GreenPower Motor Company Inc.

Good day and welcome to the Green Power Corporate Update and 2022 Fiscal Year-End Conference Call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. And to withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Michael Sieffert, Chief Financial Officer. Please go ahead, sir.

Thank you. This is Michael Sieffert, the Chief Financial Officer of Green Power Motor Company. I would like to welcome everyone to our call to discuss Green Power's corporate update and financial results for the period ended March 31, 2022. I'm here today with our Chief Executive Officer, Fraser Atkinson, and our President, Brendan Riley. During today's call, We may make comments or statements about our future expectations, plans, and prospects, which may constitute forward-looking statements for the purposes of the safe harbor provision under the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in our annual results and MD&A filed on CDAR and on EDGAR. In addition, these forward-looking statements relate to the date on which they are made. We anticipate that subsequent events and developments may cause the company's views to change. Green Power disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Also, during the course of today's call, we may refer to certain non-IFRS financial measures. Reconciliation of these non-IFRS measures can be found in our MD&A filed on CDAR and on EDGAR and is also located on our website at www.greenpowermotor.com. I will now provide a brief summary of our results for the year ended March 31, 2022. Recorded revenues of $17.2 million for the year ended March 31, 2022, represented an increase of over 30% of the restated revenue of $13.3 million for the previous fiscal year. Revenue for the year was generated from the 93 vehicle sales, including 18 Beast school buses, 11 EV Stars, 4 EV Star Plus, and 21 EV Star CCs, as well as 1 EV Star and 10 EV Star CCs for which we provided lease financing, and 28 EV Stars, which had previously been on lease and whose leases were canceled and the vehicles subsequently sold. Our cash, including restricted cash at year end, was $6.9 million. We ended the year with $32.3 million of inventory compared to $12.5 million at the previous year end. Our gross profit margin for the fourth quarter was negatively impacted by several one-time costs that pushed Green Power's gross profit margin below our 30% historical run rate. Briefly, for the quarter ended June 30, 2022, we delivered over 20 vehicles, including three Beast, and the remainder were a mix of EV Stars, EV Star Cabin Chassis, EV Star Plus, and EV Star Cargo. I'll now pass the call back to Brendan Riley. Brendan, please go ahead.

Good morning, everybody, and thank you today. Some very interesting things that I'd like to discuss today, first and foremost, is our Workhorse deal. We are under contract with Workhorse for 1,500 EV star CCs, which we are selling to Workhorse. Workhorse is putting their own custom, very compelling body on these vehicles. adding some of their own telematics and other features that workhorse supplies. And then they're selling these vehicles into the step van market. This is compelling on many levels, but I think most importantly, this is business that Green Power was not addressing previously. We've not had a plan to enter the step van market. It's also leveraging the sales of working power sold to vehicles once to Workhorse. And now Workhorse is selling these vehicles into the marketplace and supporting the vehicles in the marketplace, including contributing and vehicles. So we really believe this is, you know, I don't want to say found business, but that's kind of a good way of looking at it. This was not part of what typically we would normally do in a business transaction where we would launch the vehicles, train customers, support them. We've got one touch point, and that is Workhorse, which really makes this deal very, very compelling to us and hopefully to the market. The school bus sector has really been a very, very attractive area for us lately also. Not only did we introduce our Nano Beast, which you'll see slide here, which is a Type A kind of smaller school bus in addition to our Beast, but the announcement of the new infrastructure law, which this year alone has already enabled a lot of schools to start buying zero emission school buses at no cost to them. which includes offsets for infrastructure and other training and other things that make this a very, very compelling space for green power right now. Currently, we've got a lot of money in California. We've got money on the federal level. States such as New York and Colorado have announced large amounts of money in this space. Green power has address the national market by expanding our dealer base across the entire country. We will have some announcements very shortly on some additional dealers, but that will be an address to the national market and how we're going to penetrate all these various states with our school bus product. And then lastly, we've got something very exciting, and that's that Green Power was able company delivering on the New Jersey VIP program. It's kind of a clone or a program that's planned in very much in the spirit of the California HVIP program. And this is for the New Jersey area. This program is, again, very generous, and we've started to deliver. I believe we've got seven deliveries already under this program, and they're just starting now. We're very excited to take advantage of the opportunities in New Jersey for that. And with that, I'll pass it to Fraser Atkinson.