Ideanomics, Inc.

Greetings. Welcome to iDynamics' third quarter 2021 earnings call. At this time, all participants will be in listen-only mode. The question-and-answer session will follow the formal presentation. If anyone today should require operator assistance during the conference, please press star zero from your telephone keypad. Please note, this conference is being recorded. At this time, we'll now turn the conference over to Tony Sklar, SVP, Investor Relations. Tony, you may now begin.

Thank you, Operator, and welcome, everybody, to the Ideonomics Third Quarter 2021 Earnings Conference Call. Joining me today, I am pleased to have Mr. Al Gore, Chief Executive Officer, Ms. Kristen Halshaw, Chief Revenue Officer, and Mr. Connor McCarthy, Chief Financial Officer. A webcast of today's call will be archived and available in the Invention Presentation section of our corporate website for a minimum of 30 days. As a reminder, this conference call is being recorded. During the call, we will make forward-looking statements such as dialogue regarding our revenue expectations or forecast for the quarters and full year 2021 and 2022 related to our business. These statements are based on our current expectations and information available as of today and are subject to a variety of risks, uncertainties, and assumptions. Actual results may differ materially as a result of various risk factors that can be described in our periodic filings with the SEC. As a result, we caution you against placing undue reliance on these forward-looking statements. We assume no obligation to update any forward-looking statement as a result of new information or future events except as required by law. In addition to other risks that are more currently described in our ID and public filings with the U.S. Securities and Exchange Commission, which can be found at www.sec.gov. Yesterday, November 22, 2021, the company filed its 10-Q with the SEC, and afterwards, they issued a press release announcing the financial results So participants in this call who may not have already done so may wish to look at those documents. We provide a summary of the results on this call. The format of today's call will be as follows. Mr. Althor, our CEO, will speak to the company's overview and business strategy with context around the activities and developments from the third quarter 2021 and Q4 so far. Ms. Kristen Heltzel will speak to the company's third quarter revenue and further revenue growth opportunities. And Mr. Connor McCarthy, our CFO, will speak to the company's operating and financial results for third quarter 2021. It is now my pleasure to hand the conversation over to our CEO, Mr. Alfred Hoare.

Thank you, Tony, and thank you to everyone joining our call today. I'd like to start off by acknowledging that this call is a week later than anticipated, and I wanted to take a moment to speak to that. We were delayed with this call as putting out a very hefty S4 filing in support of our largest acquisition and the onboarding of a new order for this quarterly filing meant there was simply not enough hours in a day and days in a week to get it done on time. I set the agenda, I set the standards, and I accept responsibility when things like this occur. That aside, we have a lot to be proud of in our achievements so far this year. Our acquisition strategy is beginning to pay off as we anticipated, with our products and services in demand and our order pipelines growing across the group. Ideonomics continues to transform dramatically quarter over quarter. And we will close out 2021 with the technologies, talent, and opportunities that will help drive our businesses and share price growth. My focus today will be on providing you an update about Q3 activities, some remarks on Q4, and what we can expect into 2022. And with that in mind, I'd like to encourage you all to read the business outlook section of our Q3 filing as it provides further insight on our activities across our businesses. I'll begin with our Ideanomics mobility activities and move on to Ideanomics Capital thereafter. When we began this process of transforming the Ideanomics business, I had a vision for a company beyond just selling a vehicle. It was a vision to assemble a set of technologies and businesses that worked synergistically, with each one helping the other to be more successful, and most importantly, the products to help fleet operators navigate the transition to electric vehicles That's the key to success in this market. Today, I'm excited to see that vision coming together. We have started seeing cross-selling across different Ideanomics operating businesses, from selling vehicles and charging systems as a package, through to collaboration on tenders and RFPs. We are beginning to demonstrate that we can service the needs of fleet operators better than anyone else in the market. I'm proud of the company we are building, and I'm grateful to our 300,000-plus loyal and involved shareholders for their support. They have a strong interest in our vehicle and charging products, and we are very optimistic in our ability to deliver back the results to our shareholders, which will translate into the share price appreciation we have all been looking for. We have asked our investors to support aggressive acquisition and capital-raising initiatives to date. With the money we have raised and the companies we have acquired, Idenomics is positioned to compete globally and take advantage of the growth in the commercial EV industry. To ensure we are aligned with shareholder interests, we have structured performance targets into the deal structure of our acquisitions. So the full value is only received when it is reflected in Idenomics results. And we've raised the capital needed to scale and grow those acquisitions in a competitive environment. To make use of the capital we have raised effectively, we have attracted experienced leadership with expertise in their fields, including commercial EV executive Robin Mackey as president of Ideonomics Mobility, ex-Tesla and BYD executive Aaron Gilmore as CEO of Wave, and Mani Iyer, the ex-head of the Americas for Tractor Maker Mahindra, has come in as CEO of Selectrac. This adds to talent which came into acquisition, such as Dr. Abbas Godhazi, The combination of our businesses, the growth capital, and the people to execute is why I'm confident Idenomics will realize the potential we all know is there. Our growth plans are solid, and we are now in execution mode. Idenomics Mobility is both competing and cooperating with our industry peers to service commercial fleet operators' needs. Each of our operating companies made notable progress in Q3 and is accelerating its activities further in Q4. Our vision for Idenomics Mobility has come together in time for us to take advantage of the maturing commercial vehicle markets in Europe and North America, as well as confidently develop our Asian business. We have made two very important strategic moves in Q3, the first being the announcement of the planned acquisition of VIA Motors, which is focused on the high-growth area of zero-emission local and last-mile delivery vehicles. We expect VIA to bring tremendous value to the Idenomics family through accessing large-scale fleet operators whose interest goes beyond just vehicles and into the other products we offer. We are already seeing interest in VIA Motors and our other customer conversations, and we anticipate the demand for their vehicles will bring us additional sales and revenues from the sale of energy storage, charging, and other vehicle types. Their proprietary and modular skateboard platform was engineered to compete with the incumbent OEM's pricing and provide very competitive total cost of ownership for fleet operators, which will make VIA the go-to choice in the last mile delivery sector. They've designed their vehicles with significant customer input, helping cement relationships with some prominent companies. Just last week, I was onsite at a customer location to field test a VIA all-electric Class 3 delivery van built on its skateboard platform. I can tell you the drivers, as well as the corporate representatives of the company, were thrilled with the vehicle, which we took out on live customer deliveries. The engineering team at VIA has built an exceptional vehicle, and it performed exceptionally well as a result. The other strategic move was our tender offer for the remaining public float of Italian performance electric motorcycle company, Energica, which is a category leader in the two-wheeled market. These are two extremely important companies in the EV sector, They both have market-leading technologies and their teams are second to none. Their electric vehicle design, engineering, and manufacturing expertise positions Ideonomics to be a true market leader in commercial EV. Q3 was a tough quarter across the industry from a supply chain perspective, and during the quarter, it became clear the value of having a team on the ground in China. The Ideonomics China supply chain team helped our companies locate microchips, and other components where there was seemingly no short-term supply. Finding these parts kept production running, where it otherwise might have stopped, as we have seen at several major OEMs. We anticipate tight supply chains continuing for the foreseeable future, although areas such as shipping container availability has eased, albeit with price increases that will likely be sustained in the near term. Our China operation is also delivered on the revenue front, continuing their growth since our reorganization of that business in the first quarter. They had a strong quarter. I've continued that in Q4 by beginning to unlock the order interest we have in the vans, trucks, and bus categories, as many of you will have seen from the images we put out on our social media channels. Like many of you, I was a close observer of the COP26 summit, where it was made clear that the move toward zero emissions is top of mind for governments and corporations worldwide. With the recently passed infrastructure bill here in the U.S., we expect the long-awaited government investment to help accelerate market demand in electric and zero-emission vehicles and the associated charging infrastructure, as we all work together to reduce the world's carbon emissions. Finally, in terms of Idenomics Mobility, I'm very pleased to announce we recently secured our facility on the East Coast, which will showcase our technologies and products across Idenomics Mobility. as well as serve as a regional hub for assembly, servicing, and spare parts for our companies. It will take time to fit out, then we'll let you know when we're ready to announce its official opening. But it's a prime facility which will bring high-tech EV jobs to the Northeast. I will now move over to our Idenomics Capital activities. As you will have seen from our disclosures in Q3, one of our main revenue contributors in the group was subject to a cybersecurity incident. I am pleased to announce we're able to recover relatively quickly and without paying the requested ransom. although there was an effect on the revenues which Kristen will speak about further. We recently launched an ESG, an impact investing destination named Justly, as a reboot to our Deebot acquisition. This is an important milestone for Ideanomics Capital as it shows our ability to adapt and ensure we get value from our investments regardless of market changes. I'd like to congratulate the Justly team for getting up and running ahead of schedule. That's it for my remarks. I'd like to close out by saying we are making investments in our marketing communications initiatives to increase interaction with our investor community, as well as improve the visibility of our businesses to their customer audience. We look forward to both our annual shareholder meeting, as well as the shareholder proxy for the beer acquisition. I'd like to thank our shareholders for their continued support. I'll hand you over now to Kristen Halsall.