LiveWire Group, Inc.

Investor Relations at Harley-Davidson. You can access the slides supporting today's call on the internet at the Harley-Davidson Investor Relations website.

As you might expect, our comments will include forward-looking statements that are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters we have noted in today's earnings release and in our latest filings with the SEC. Joining me for this morning's call are Harley Davidson Chief Executive Officer, Artie Starrs, and Chief Financial Officer and President of Commercial, Jonathan Rue, who is also the Chairman of LiveWire Group, Inc. and we'll be available to address any questions about Livewire during the Q&A portion of today's call. With that, let me turn it over to Harley-Davidson CEO, Artie Starr.

Thank you, Sean, and good morning, everyone. I'm excited to be with you today and thrilled to be partnering with our board, Jonathan, and our leadership team, with the broader team here at Harley-Davidson, and of course, with the Harley-Davidson Dealer Network. Over the past month, I've been truly energized by what I've experienced across the motor company at HDFS and dealerships and with the broader rider community. I'd like to take a moment to thank all the riders I've had the pleasure of meeting at dealerships and dealer events since joining the company. Your passion and connection to the brand are truly inspiring. On October 1st, I started my HD chapter with the dealer network right here in Milwaukee at our annual dealer forum. where over 1,500 of our global dealers came together in celebration of Harley-Davidson. During our time together, we reviewed our product launches and marketing strategies for 2026, celebrated the valuable role our dealers play in our business, and most importantly, began our planning and alignment to deliver successfully in the year ahead. Since then, I've been working with our team of employees at Juneau Avenue and have visited company facilities in Wisconsin and Pennsylvania. I've been impressed with the level of talent, craftsmanship, and the unwavering commitment to the brand from employees at all levels across the company. That resilience is part of what makes Harley-Davidson so special. On the road, I was pleased to meet with over 260 dealers from corner to corner across the country, listening and learning and beginning to shape our shared future together. It's clear that Harley-Davidson has the opportunity to improve dealer health across the network, and I'm committed to addressing it quickly. A healthy Harley depends on a healthy dealer network, and right now we have work to do to strengthen that foundation, starting with dealer profitability. I've already made some quick decisions aimed at supporting the network in the immediate term. First, we're accelerating our focus on improving motorcycle inventory management. Jonathan will share more details in a moment, but our focus is on reducing overall inventory levels at dealerships, particularly in the touring and CVO segments, to ensure a healthier, more balanced mix across the network. Second, we're introducing market responsive customer facing promotions. These are designed to drive traffic to our dealers, help close more sales, and support the reduction of touring inventory by moving units through retail. but this is especially important given the challenging macro environment we're operating in. Third, we're assessing alternative approaches to e-commerce, working closely with our U.S. Dealer Advisory Council. The goal here is to better meet the expectations of today's consumer while maintaining the right balance with the needs of the dealer network. And fourth, we're reviewing fuel facility guidelines to provide more flexibility for dealers. While that review is underway, Penalties for non-compliance will be suspended for 12 months. These are immediate actions, but they're also an important step towards strengthening our relationship with dealers while setting us up for a stronger, more resilient future together. Jonathan will get into more details on the quarter, and while we are disappointed by the results of the motor company, our Q3 results positively reflect the HDFS transactions. demonstrating the strategic value of HDFS as part of the overall business. Aligned to what you've seen in the numbers, I'd like to share some initial observations about the strengths and opportunities that I've seen since joining the company. Starting with the strengths. First, brand and community. As someone new to the sport of riding and to the Harley-Davidson community, having earned my motorcycle license this year, I'm blown away by the incredible camaraderie that surrounds the brand. The support, passion, and shared spirit among riders make it feel like more than just a community, it's a family. That passion is one of our greatest assets and a key driver of future growth for both the brand and business. Second, our product. Harley-Davidson is building the best bikes in the world. We'll continue to focus on delivering the best products for our customers and on strengthening our manufacturing capabilities to ensure excellence in every bike that leaves our facilities. Third, our dealer network. It's clear to me that the exclusive HD dealer network is a unique and powerful differentiator. As I said a moment ago, we need to build on that foundation. We'll continue to invest in supporting and strengthening the network as we all navigate the evolving commercial environment. And fourth, HDFS. The HDFS business continues to be a significant strength and asset to the company and to the HD dealer network. Post-transaction, this will continue to be the case. Now turning to the opportunities. First, given the continued interest rate environment, affordability will be critical in winning in the market. Our product portfolio must balance aspiration with accessibility. Finding the right mix across our future portfolio will ensure we don't over index on one product family while continuing to appeal to new riders. Second, we must improve our speed to market. We're building the best bikes, but we need to move faster to bring innovation to market and capture new riders. That won't happen overnight, but the competencies and talent exist within Harley-Davidson to accelerate how quickly we bring new products and experiences to customers. Lastly, in the current demand environment, we must sharpen our focus on cost and capital efficiency. Before I hand it over to Jonathan, I want to say a few words on Livewire. I want to congratulate Karim and the team for the successful launch of the S4 Honcho last month. The product has been met with a lot of positivity, and we look forward to seeing the bikes in the street next year. And with that, Jonathan, over to you.