Pinewood Technologies Group PLC

Hi, I'm Bill Berman, CEO of Pinewood AI. I'm pleased to report another half of great progress for Pinewood AI, delivering our strategic objectives and positioning the business for accelerated growth in the future. We have continued to grow revenue and profits as we have onboarded major new customers and increased spend across our existing customer base. The launch of our upgraded user experience and user interface also ensure that our technology remains at the forefront of automotive software and will further support our already high levels of customer satisfaction and minimum churn rate. The acquisition of CEEZ was another major milestone, which has significantly enhanced our AI capabilities and product suite. We are in the process of fully integrating CEEZ impressive tools, including its leading AI powered chatbots into the Pinewood AI platform and are already seeing the benefits. Preparations for our rollout in North America market are also continuing at pace. The agreement to take full ownership of our North American JV that we announced in June alongside the major contract signed with Lithia to roll out the Pinewood AI platform across all of its over 300 rooftops in North America marks major steps forward as we prepare to enter the key strategic market. Our pilots are set to start in Q4, and we are thrilled to move to the next stage. Thanks to the scale of our new contract with Lithia, alongside our exciting pipeline of new customers and our confidence in the scale of the global opportunity in the market, I'm pleased that we've been able to set an ambitious new underlying EBITDA target of between 58 and 62 million for FY28 today. I'd like to thank all of our employees for the hard work over the last six months, and I'm confident that together we'll achieve even more in the months ahead.