Xos, Inc.

Greetings and welcome to Exos Inc's second quarter 2022 earnings call. At this time, all participants are in a listen-only mode. Afterwards, we will conduct a question and answer session. At that time, if you have a question, please press the 1 followed by the 4 on your telephone keypad. If at any time should you require operator assistance during the conference, please press star 0. As a reminder, this conference is being recorded. At this time, I would like to turn the conference over to Exos' General Counsel, Kristen Romero. Thank you. You may begin.

Thank you, Operator, and thank you, everyone, for joining us today. Hosting the call with me today are Exos' Chief Executive Officer, Dakota Simler, Chief Operating Officer, Giordano Sordone, and Chief Financial Officer, Kinipli Afamiki. Ahead of this call, Exos issued its second quarter 2022 earnings press release and a presentation, which we will reference today. This can be found on the investor relations section of our website at investors.exostrucks.com. On this call, management will be making forward-looking statements based on current expectations and assumptions, which are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key assumptions are incorrect because of factors discussed in today's earnings news release, during this conference call, or in our latest reports and filings with the Securities and Exchange Commission. These documents can be found on our website at investors.exostrucks.com. We do not undertake any duty to update any forward-looking statements. Today's presentation also includes references to non-GAAP financial measures and performance metrics. Please refer to the information contained in the company's second quarter 2022 earnings press release for definitional information and reconciliations of historical non-GAAP measures to the comparable GAAP financial measures. Participants should be cautioned not to put undue reliance on forward-looking statements. With that, let me turn it over to Dakota.

Thanks, Kristen, and thank you, everyone, for joining us today for our second quarter 2022 earnings call. We are excited to update you on another quarter of growth in both deliveries and revenue for Exos. During our call today, I'll cover the business highlights we had over the quarter and also updates since the end of the quarter, including the additional fundraise we announced today. GEO will provide you an update on our manufacturing progress, as well as details on our recent engineering partnerships. And to wrap up, Kingsley will provide you a detailed review of our second quarter financial results and our outlook for the second half of 2022. But first, I would like to give you a brief reminder on our mission and the problems we are solving for fleet customers. At Exos, we are focused on providing the most durable and reliable electric trucks with purpose-built battery and powertrain technology designed specifically for the rigors of demanding commercial fleet applications. Our proprietary technology allows fleets the ability to unlock total costs of ownership or TCO savings unmatched in the industry. On top of that, our energy services, such as the Exos Hub and Exos Chargers, help fleets remove roadblocks for electric vehicle adoption by enabling fast, high-power charging for our customers. Our customer success initiatives, including our charging solutions and fleet management platform, enable fleets to seamlessly transition to electric vehicles while remaining focused on reducing total cost of ownership. Our efforts in building a robust sales and customer support organization are continuing to pay off as our revenue for the second quarter of 2022 was $9.8 million, up roughly 40% compared to the first quarter of 2022. We also announced some new partners during the second quarter. We entered an e-axle partnership with Allison Transmission, a leading supplier of transmissions and gear systems for the commercial vehicle industry, to develop vehicle and powertrain technology. We are also working with Thermo King, a leading manufacturer of transport refrigeration units, to develop zero-emission TRU systems for commercial fleet operators. Some of the highlights of our expanding customer relationships include the delivery of vehicles to FedEx ground operators in Canada, making them the first Canadian-based Exos customer, delivery of 58 vehicles to merchant fleet, and initial delivery to help them reach their goal of deploying 40,000 electric vehicles. In addition to expanding our customer relationships and deliveries, we have broadened our distribution network to put more trucks on the road. As I'm sure you all saw last week, we recently announced that we have signed a dealership agreement and made initial deliveries to Gabrielli Truck Sales, marking the entrance of our dealership distribution network into the Northeast region. With this new dealership agreement, Exos vehicles will now be available across New York, New Jersey, and Connecticut. This is an exciting opportunity for Exos as we continue to build upon our already strong dealership distribution networks in the United States. It will also ensure we provide industry-leading support to commercial and municipal fleets in the region with the leading dealership group as our partner. We continue to work closely with all of our dealership partners in 10 different states and multiple locations to provide coverage to areas where EXOS does not already have existing support and distribution services. We expect our regional distribution and service footprint to continue to grow significantly as we make inroads with new fleet customers and service providers throughout the country. Our focus over the second half of 2022 is optimizing our supply chain and manufacturing operations to build profitable vehicles as we continue to scale. We also plan to commence manufacturing of our industry-first charging solutions, such as the Exos Hub, which will enable rapid deployment of charging infrastructure for fleets. In addition to our focus on customer and delivery growth, Exos has continued to build stronger partnerships with our existing strategic partner, the Algema Automotive Company. The Algema Automotive Company has been an incredible partner in Exos' growth through direct investment and facilitating commercial relationships with global fleet customers. The Aljamae Automotive Company continues to invest into Exos through an adjoining convertible, which Kingsley will discuss in a moment. In May, during our Fleet Week event, we launched Exosphere, our fleet intelligence software platform, which helps our customers minimize the TCO for electric fleets. Our fleet management platform is the most connected vehicle ecosystem for electric trucks available today. This platform is already in use by customers, including our launch customer, Unifirst, who's using the platform to track the health of its fleet in real time. We also showcase two new trucks to service Class 6, 7, and 8 fleet customers. The MDXT platform is a Class 6 or 7 medium-duty electric vehicle that can travel up to 270 miles on a single charge. We are proud to have Republic National Distributing Company, one of the nation's leading wholesale beverage distributors, as a launch partner. The HDXT, on the other hand, is a Class 8 heavy-duty tractor designed for regional haul fleets and can travel up to 230 miles on a single charge. McLean Company, a leading supply chain services and distribution company, has agreed to a pilot program with 10 HDXT vehicles. The launch of these new platforms will continue to help EXOS accomplish its objective to build the fleet of the future with our innovative solutions to produce platforms that go farther, last longer, and provide a more cost-effective vehicle for all of our customers. Finally, I would like to touch on the recent climate bill that the Senate approved this past Sunday. The climate bill includes an estimated $369 billion in expenditures related to climate change and energy security, including tax and other incentives to promote production of electric vehicles in the United States. We believe that this bill could provide an exciting opportunity to help grow our customer base and accelerate the decarbonization of commercial transportation in the U.S. We're excited to have more support, not only from the federal government, but also incentives from states such as California, New York, New Jersey, Massachusetts, Minnesota, and Texas. With that, I will now turn the call over to Gio.