GreenPower Motor Company Inc.

Good day and welcome to the Green Power Motor Company first quarter earnings and update on Green Power sales pipeline conference call. All participants will be in 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 1 on your telephone keypad. To withdraw your question, please press star, then 2. 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 would like to welcome everyone to our call to discuss Green Power's financial results for the period ended June 30th, 2024, and provide an update on Green Power's sales pipeline. 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 Harbour 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 Donna 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 period ended June 30th, 2024. You can also access our audited financial statements and MD&A posted on Green Power's website as well as on www.cdar.com or filed on EDGAR. I'll now pass the call over to Green Power's CEO, Fraser Atkinson.

Thanks, Michael, and good morning, everyone. I'm pleased to report that since our most recent quarter, Green Power has turned an important corner. Our most recent quarter is not indicative of where our business is positioned today. While uncertainty over state regulations and federal incentives combined with other global economic factors slowed some EV markets earlier this year, the increase in orders and quotes Green Power is now experiencing shows that the demand for all electric vehicles is still there and that the market is rebounding with significant growth potential. We have the inventory and the production to meet the increased demand. Consequently, we see a step up in our revenue from our most recent quarter through each of the remaining quarters this fiscal year. Earlier today, we announced deliveries of our all-electric purpose-built school buses in California with follow-on deliveries over the next few weeks in California and Oregon. This activity complements our recent announcement on sales on the East Coast. Brendan will discuss our activities in the school bus sector in more detail later on this call. We have seen a significant uptick in the past few months with our sales pipeline for Green Power's all-electric commercial vehicles, including 28 specialty vehicles for deployment in Canada, which would utilize our current inventory of EV star cabin chassis. This represents inventory we have in our books generating cash flow requiring little additional cash outflow, markedly improving our liquidity. We've also received orders for EV star passenger vans in a variety of seating configurations and EV star plus cargo plus vehicles consisting of more than 20 vehicles. We anticipate delivering most of these vehicles by the end of this calendar year. Many of these orders in quotes have follow on orders providing exponential growth with our sales pipeline. Now an observation on our competitive landscape. Our go to market strategy consists of the horizontal market for medium duty class four vehicles where we have our own electric cabin chassis, passenger vans, shuttle buses, and a range of commercial vehicles, as well as the vertical market for school buses with our class four Type A all-electric NanoBeast school bus and our heavy-duty Class 8 Type D Beast all-electric school bus. Over the past year, there's been an interesting trend in that the number of EV OEMs with medium-duty Class 4 all-electric offerings have been dwindling as measured by the eligible vehicles listed on California's H-5th Incentive Program. There are fewer Class 4 Type A school buses, fewer Class 4 passenger vans, and fewer Class 4 commercial vehicles listed on the program. We believe this trend will continue over the short term. California has introduced legislation requiring roughly 10% of new purchases of Class 4 vehicles by fleet operators to be zero emission, creating demand for Green Power's EV Star line of commercial vehicles. This requirement will increase to 75% over the next 10 years, amounting to a multibillion-dollar annual market opportunity. We believe this increased demand will flip the supply demand in favor of EV OEMs within the medium-duty Class IV space, and that we are starting to see the early days of this new dynamic. I'll now hand it over to Brendan for discussion on operations.