OPENLANE, Inc.

Welcome to the KAR Auction Services Quarter 1, 2021 Earnings Conference Call. Please note that today's call is being recorded. At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask your question during the session, you will need to press star 1 on your telephone. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker for today, Mr. Mike Eliason, Treasurer, Vice President, Investors Relation. Mike, the floor is yours.

Thanks, Jay. Good morning, and thank you for joining us today for the CAR Global First Quarter 2021 Earnings Conference Call. Today, we'll discuss the financial performance of CAR Global for the quarter ended March 31st, 2021. After colluding our commentary, we will take questions from participants. Before Jim kicks off our discussion, I'd like to remind you that this conference call contains forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties that may affect CARA's business, prospects, and results of operations, and such risks are fully detailed in our SEC filings. In providing forward-looking statements, the company expressly disclaims any obligation to update these statements. Let me also mention that throughout this conference call, we'll be referencing both GAAP and non-GAAP financial measures. Reconciliations of the non-GAAP financial measures to the applicable GAAP financial measure can be found in the press release that we issued last night, which is also available in the investor relations section of our website. Today on the call, we have Jim Hallett, Executive Chairman, Peter Kelly, CEO, and Eric Lockmiller, CFO. Now I'd like to turn this call over to Carglobal Executive Chairman, Jim Hallett. Jim?

Great. Thank you, Michael, and good morning, everyone, and thank you for joining today's call. Consistent with our announcement earlier this year, Peter Kelly has transitioned into the role of CEO of Carglobal beginning April 1st. So in a few moments, I will be handing the remainder of this call over to Peter and to Eric Lochmiller, our CFO. As Executive Chairman, however, I wanted to take the opportunity to thank all of you for your support over the years. It has been my pleasure getting to know so many of you and sharing CAR's story with you. I also want to congratulate Peter Kelly and all of CAR on what I would call a seamless leadership transition. Peter has been an inspirational leader in our company for over a decade and is a true industry pioneer. He has been the architect of our digital transformation and has a clear, bold vision for Carr's future, which I know he will begin sharing with you today. This is the right time for this transition, and Peter is the right leader for our customers, for our investors, and for our employees. So with that, I'm very pleased and very proud to pass this call to Carglobal CEO, Peter Kelly. Peter.