GreenPower Motor Company Inc.

Good morning and welcome to the Green Power Motor Company first quarter earnings 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. 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 Seifert, Chief Financial Officer. Please go ahead.

Thank you. This is Michael Seifert, the Chief Financial Officer of Green Power Motor Company. I'd like to welcome everyone to our call to discuss Green Power's financial results for the period ended June 30, 2022. I'm here today with our Chief Executive Officer, Fraser Atkinson, and our President, Brendan Reilly. 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, included those discussed in our quarterly interim results in 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 pass the call over to Green Power's CEO, Fraser Atkinson.

Thank you. Thank you, Michael. I want to start off by talking about the challenges facing our business and what we're doing to address these. First, we've encountered unstable shipping where some sailings or routes have been canceled as well as a reduction of available slots. We've started to split shipments, utilize ports on the east coast for sales in that region, and are exploring other means of reducing shipping times. Second, we are also encountering delays with the delivery of certain parts and components. For example, one of our suppliers for our onboard charging systems has been taking longer to ship as we ramp up production. With a robust supply chain with multiple suppliers, we are able to adapt where we see these trends that are going to lead to delays. This is not as simple as changing a vendor as we go through a rigorous testing and amoligation process in order to incorporate alternatives. Third, increased funding for voucher and incentive programs has led to longer approval periods. We've prioritized our processes to optimize the timing of voucher approvals in terms of our delivery opportunities. Our team is doing a great job of meeting these challenges head on and adapting to the changing environment that we operate in. I believe that the steps we've been taking will be seen in the ramp up of deliveries to customers this and the next couple of quarters. Let's shift the discussion to our current strategy. As we outlined on our update call in early July, we've moved to a go-to-market strategy with the school bus group, commercial trucks and vans group, and passenger vehicles and buses. We see multiple growth drivers for each of these. For our all electric commercial vehicles, there are recent federal programs with funding that will help accelerate adoption of these vehicles. This is really a first for the commercial side of the business as many of the programs to date have focused more on school buses and transit buses. For example, the recently passed Inflation Reduction Act features numerous programs that will benefit Green Power. To highlight one of these, commencing after December 31st, 2022, there will be a $40,000 tax credit for Class 4 vehicles or higher. The EV Star platform and models are all Class 4 vehicles. On July 11th, 2022, Canada introduced over $500 million of incentives for medium heavy duty zero emission vehicles. We have 13 of our commercial EV stars with shuttle buses listed as eligible vehicles by Transport Canada for this program with point of sale incentives ranging from 75,000 to $150,000 per vehicle. They are also permitting that these can be stacked with other funding programs up to 75% of the purchase price of the vehicle, providing for a very compelling net sales price for the 13 vehicles listed under this program. Next, the school bus group is able to draw on numerous funding programs, which we have talked about in the past. But to quickly highlight a few of these, Previously announced EPA school program with $500 million for the purchase of all electric school buses kicked off this year for the first of five years from 2022 to 2026. California's $130 million school bus set aside program for this year with the next funding already allocated for the next two years. California Energy Commission or CEC funding for qualified air quality management districts, as well as the ongoing voucher programs with New Jersey, California, BC, to name a few. I'll now turn it over to Brendan Riley, President of GreenPower, to talk about the many highlights and current activities of the company.