GreenPower Motor Company Inc.

Good morning and welcome to the Green Power Motor Company year-end earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing star then zero on your telephone keypad. 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 Sieffert, CFO. Please go ahead.

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 financial results for the fiscal year ended March 31st, 2024. I'm here today with our CEO, Fraser Atkinson, and Brendan Riley, our president. 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 quarterly interim results and MD&A filed on CDAR and on EDGAR. In addition, these forward-looking statements relate to the date on which they're 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. For additional information on the results of operations for the year ended March 31st, 2024, you can access the audited financial statements and MD&A posted on Green Power's website, as well as on CDAR, and or filed on enter. I'll now pass the call over to Green Power CEO, Fraser Atkinson.

Thank you, Michael. Green Power has accomplished a great deal in the past year, and I'm proud to be working with the team at Green Power as we've set a new path for our business. Today, Green Power has two fully operational production facilities, one on the west coast in Porterville, California, and one on the east coast in South Charleston, West Virginia. This positions Green Power as a national company with production, sales and service from coast to coast. With a full line of commercial vehicles and the only EV school bus OEM to manufacture both a Class 4 Type A and the larger Type D all-electric purpose-built school bus, Green Power is positioned to be a core supplier of electric vehicles in the medium and heavy-duty space. Let there be no doubt, over the past year, the EV sector has encountered significant headwinds. Despite these headwinds, Green Power has made significant progress with our roadmap to transition to a production plan driven by customer orders. In the past, we'd manufacture to inventory so that we were able to complete sales when we received the customer order. Now that we are receiving larger orders, including some with deposits, we must be able to produce pursuant to those customer orders. As Michael will discuss in his remarks, this provides for more efficiencies and fewer touch points which should improve our gross profit over time. In order to make this transition, Green Power needed to expand its manufacturing capabilities both in California and West Virginia, make investments in GP truck body to provide a complete range of commercial vehicles, and Obtain Production Financing. Brendan will discuss the transition with our manufacturing and Michael our capital structure in order to achieve this plan. Hand in hand with the production plan is a sales strategy that focuses on long-term prospects with mandates and money. To provide some context on mandates, when a customer is interested in a Tesla Model 3, a Rivian pickup truck or Lucid Air automobile, they are not required to buy any of these. Because mandates do not exist for light duty vehicles, growth in the market for these vehicles can at times stagnate. However, mandates do now exist for medium and heavy duty vehicles like the Class 4 commercial vehicles and school buses manufactured by Green Power. That is why Green Power has chosen to focus on these two markets. Many states have requirements for school districts to purchase all-electric school buses by certain dates. In states like New York and California, this has to happen over the next 10 years. Those two states alone operate 80,000 school buses, representing a market opportunity of approximately $25 billion. For the Class IV commercial space, California has recently introduced legislation requiring roughly 10% of new purchases by fleet operators to be zero-emission vehicles, creating demand for Green Power's EV star commercial vehicles. This requirement will increase to 75% over the next 10 years, amounting to a multi-billion dollar annual market opportunity in that state alone. and several other states are copying the California initiative, further expanding this market opportunity. While these mandates represent strong growth drivers, they are only as effective as the funding available to support the initiatives. In the case of California, the HVIP voucher program has recently introduced the Small Fleets Plus Up, which doubles the amount of the vouchers available to purchase our EV Star products. These Plus Ups amount helped small fleet operators get into green power commercial vehicles for nearly no cost when combined with the federal IRA tax credits. Additionally, HVIP introduced the zero-emission school bus initiative with $500 million, which is in addition to existing funding programs from air quality management districts and the school bus set-aside fund. Further, the EPA has been slow in getting out getting out contracts for awards, but we expect to see that activity in the current fiscal year. The combined green power production and sales strategy designed to meet the customer needs in the most cost-efficient manner possible while focusing on the incentive money available where the mandates required adaptation will continue to provide for the best growth trajectory for our companies. I'll now hand it over to Brendan for discussion on our operations.