GreenPower Motor Company Inc.

Good morning, and welcome to the Green Power Motor Company's second quarter earnings 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 one on your telephone keypad. To withdraw your question, please press star, then two. Please note this event is being recorded. I would like now to turn the conference over to Mr. Michael Seifert, Chief Financial Officer of Green Power. 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 from the three and six months ended September 30, 2024, and to provide an update on Green Power's operations and manufacturing. I'm here today with our Chief Executive Officer, Fraser Atkinson, and our President, Brendan Ryland. 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 provisions 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 that go. 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 just claims 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 financial measures can be found in our MD&A. For additional information on the results of operations for the period ended September 30, 2024, you can access the financial statements and MD&A posted on Green Power's website, as well as on www.cedarplus.com or filed on Edgar. I will now pass the call over to Green Power CEO, Fraser Atkinson.

Thank you, Michael. I'm going to start with Green Power's strategy in the recent elections. We still don't know the extent of changes that will be made to federal programs. However, it's safe to say that it won't be the status quo. We are expecting changes with the EPA Clean School Bus Program and the $40,000 IRA tax credit, to name a few. The perception of many is that the change in the administration and the Senate doesn't bode well for the EV sector. Well, that might be true for some EV OEMs. That's not the case with Green Power. For over a year, our strategy has been to be opportunistic with federal programs in the short term, but the longer-term focus has been on states that have put policies and plans in place to provide a cleaner, healthier ride for students through the deployment of electric school buses. States like California, and New York and regions like the Southwest. Many of these states have already indicated that they will continue to push for the electrification of school buses and commercial vehicles. Green Power has over 300 live orders and qualified leads for our all-electric school buses and are well-positioned to add to these. Next, I want to give you a quick snapshot of our current quarters. Earlier today, we announced that we had shipped eight of our EV stars to Wash U in St. Louis. There will be two more EV stars delivered to Wash U for a total of 10, which is a follow-on order to the five EV stars that we delivered around two years ago. A great testament to our EV star with the follow-on order. Combined with the deliveries of nine Type D Beast all-electric school buses, one Type A NanoBeast, and two EV Star passenger vans in the first half of this quarter, we are close to surpassing the total number of vehicles delivered during the September 30th quarter. Lastly, we have talked recently about our tradable credits. California's Advanced Clean Truck Regulation, the EPA's Phase III GHG Regulation, and NHTSA's Fuel Consumption Credit Program along with other state-level mandates, each include credit trading programs that provide manufacturers enhanced compliance flexibility and the opportunity for reduced compliance costs through the acquisition of credits. Being a manufacturer of all electric vehicles, Green Power has no internal deficits and is thus positioned to trade every credit it generates. The medium heavy-duty, or as it's referred to, the MHD market is new. According to the California Air Resource Board, only two trades have been completed to date. As opposed to the light-duty sector, where companies like Tesla have been trading credits for years. In their most recent quarter, they reported revenue of $739 million. close to 25% of Tesla's gross profit is due to the sale of their credits. Green Power has generated hundreds of tradable credits and will continue to generate significant numbers of tradable credits. We have signed several NDAs with OEMs and have engaged a broker who is a seasoned veteran with trading credits with manufacturers of light-duty vehicles. So we are working on monetizing these credits and I'll now turn it over to Brendan to discuss our operations.