Good morning, ladies and gentlemen, welcome to the ARB Corporation 2026 half-year financial results presentation. To all of those online, thank you for taking the time to join us this morning. My name is Lachlan McCann, Chief Executive Officer at ARB, and joining me today to present is Damon Page, ARB's Chief Financial Officer and Company Secretary. Today, Damon will take you through the financial update of the half-year results, and I'll present an update to the company's sales and operations. During the presentation, questions can be made through the chat box. At the top right-hand corner of your screen, you'll see a blue circle with a hand icon. By clicking this, it will open a chat box for you to enter your questions. At the conclusion of today's presentation, Damon and I will answer these questions. I'll now hand over to Damon, who'll take you through a financial update. Thanks, Lachlan, good morning, everybody. Thank you for joining us as we present ARB's results for the 6 months ended 31 December, 2025, or the first half of the financial year ending 30 June, 2026. This presentation follows the company's market update released to the ASX on 20 January, 2026. The final report released to the ASX this morning and forming the basis of this presentation, is consistent with that market update release dated 20 January, 2026. If we move to Slide 3, we see an outline of the company's sales revenue, profit before tax, and profit after tax. To the left of the slide, ARB sales declined 1% in the first half of the 2026 financial year, generating total sales revenue of AUD 358 million. The sales environment in the past six months was challenging, with the sale of new vehicles declining globally and consumer sentiment constrained. Sales into the U.S. were the standout contributor, with growth of 26.1%. Performance by sales channel is outlined on the following slide. ARB's reported profit before tax of AUD 57.1 million declined to 18.8% compared with last year. After adjusting for one-off items, including gains from real estate sales and costs associated with the termination of the Thule distribution agreement, the profit before tax decline was 16.3%. Lower sales margins, driven by the weaker Australian dollar compared with the Thai baht and lower factory overhead recoveries, were the key factors driving the decline in profitability. We will cover this in more depth on Slide 6. Costs were otherwise relatively contained, with the exception of non-cash depreciation resulting from the company's recent elevated capital expenditure program. Reported profit before tax represents 15.8% of total revenue, below the 19.4% achieved last year. Driving sales growth and focusing on restoring margins is key to achieving the company's target of 20% profit before tax to sales. To the left of the slide, reported profit after tax of AUD 42.2 million declined 17.2% compared with last year, marginally better than the company's reported profit before tax result, and earnings per share declined 17.9%. Slide 4 outlines sales performance by channel. We see there that the sales into the Australian aftermarket declined 1.7% in the first half, affected by lower new vehicle sales for ARB's core model platforms and the ongoing shortage of accessory fitment resources. Sales were marginally down in all states, except for in Western Australia. ARB's retail store network grew by four stores to a total of 79. Five new stores were opened in Mittagong and Griffith in New South Wales, in Mildura in Victoria, and in Rockingham and Midland in Western Australia, whilst the store in Burnie, Tasmania, was sold, but continues to trade as a private stockist. Sales declined during the half, customer demand remains at historical highs, and the open order book ended the half year 5% higher than at December 2024. Export sales increased 8.8% during the half. Sales growth of 26.1% was achieved in the U.S., driven by the strategic relationship with Toyota US, the e-commerce site in the U.S., and growth through the ORW and 4 Wheel Parts retail networks. Other export markets were impacted by lower new vehicle volumes and reduced government funding to the aid and relief sector. The decline in sales to original equipment manufacturer customers of 38.2%, or AUD 11.2 million, reflects increased inventory levels held by the OEMs, resulting from lower new vehicle sales and slower sell-through of inventories purchased previously. Across on the Slide 5, we see the company's profit and loss statement for the financial half-year ended December 31, 2025. It highlights sales revenue was down 1%, underlying profit before tax was down 16.3%. Reported profit before tax was down 18.8%. Some key items to call out include the combination of a decline in sales revenue of AUD 3.7 million and the increase in materials and consumables used of AUD 6.9 million, representing an AUD 10.6 million reduction in gross profits and accounts for most of the AUD 11.3 million decline in underlying profit before tax. The two factors driving the decline in ARB's gross margin being the significantly weaker Australian dollar against the Thai baht and lower factory recoveries as inventory levels materially increased in the prior comparable period, are covered in more detail on the following slide. Consequently, materials and consumables used represented 43.7% of sales, which compared with a historically low 41.4% of sales achieved in the prior half year. Costs were otherwise relatively well contained, with the exception of depreciation expense, which increased AUD 2.4 million or 16%, resulting from ARB's elevated capital expenditure program over recent years. Also of note, employee expenses were flat at AUD 90.5 million. Operating expenses, including advertising, distribution, finance, and maintenance expenses, all declined marginally over last year. Pleasingly, ARB recorded its AUD 777,000 share of equity accounted profits from its investment, primarily in ORW and 4 Wheel Parts. Regular monthly profits recorded by ORW are ahead of the business case. Overall, the underlying profit of the business declined AUD 11.3 million or 16.3%, of which AUD 10.3 million relates to lower gross profits, resulting from the 1% decline in sales and lower sales margins. Adjustments to profit include a AUD 1.3 million gain on the sale of a retail store, following a relocation to a larger flagship site, and costs associated with the discontinuation of the Thule distribution agreement, with Thule choosing to operate in the Australian market directly. Sales and profits associated with Thule were not material to the business. Slide six provides more detail around the reduction in gross profits referred to earlier in the presentation. Firstly, ARB manufactures the majority of its fabricated products in one of its three Thai factories, where the costs are denominated in Thai bahts. Unfortunately, the Thai baht traded at its historically strongest range, i.e., between 21-21.5 baht to the Australian dollar throughout all of calendar 2025. Based on a three-month lag representing inventory holdings and timing of creditor payments, the baht averaged 21.17 baht to the Australian dollar in the first half of FY 2026. This compares with 23.71 baht to the Australian dollar in the comparative first half of FY 2025. This represents an 11% decrease in the purchasing power of the Australian dollar against the Thai baht, meaning the Thai manufactured product was significantly more expensive in the first half of FY 2026, which is reflected in the lower sales margins and ultimately the lower company profit achieved. Secondly, factory overhead recoveries in the first half of FY 2026 were lower than in the first half of FY 2025. During that period, I mean, during that prior period, ARB's inventory levels increased materially from AUD 240 million to AUD 278 million, resulting in an over-recovery of factory costs. Inventory was subsequently reduced in second half FY 2025 and again in the first half of FY 2026, leading to lower factory cost recoveries and contributing to the overall decline in profitability in the first half of FY 2026, compared with the prior December half year. On a positive note, the company has largely hedged its Thai baht exposure for the second half of FY 2026 at rates slightly more favorable than those contracted in the prior corresponding period, and overhead recoveries are forecast to be consistent with second half FY 2025. Consequently, sales margins in second half FY 2026 are expected to be broadly in line with those achieved in the second half of FY 2025. Slide 7 calls out major company cash flows during the year. The company generated cash from operating activities of AUD 63.9 million, which is marginally higher than the profit after tax of AUD 41.2 million, and the non-cash depreciation and amortization expense of AUD 17.8 million, reflecting relatively flat working capital. The company invested AUD 11.7 million on property, plants, and equipment during the half year, AUD 5.2 million on land and buildings, and AUD 6.5 million on factory, plants, and equipment. The company paid AUD 59.3 million in 2 dividends during the period, net of dividend reinvestments. The final dividend of AUD 0.35 for FY 2026 was a cash outflow of AUD 24.2 million, and the AUD 0.50 special dividend was a cash outflow of AUD 35.1 million. Both dividends were fully franked at 30%. The company was holding AUD 59.4 million in cash at the end of the half year and has no debt. This was a decrease of AUD 9.8 million from 30 June 2025, reflecting the special dividend paid. Slide 8. The board has declared an interim fully franked dividend of AUD 0.34 per share. This is consistent with last year and represents a payout ratio of 67.2%. The dividend reinvestment plan and bonus share plan will both be in operation for this dividend with a 2% discount, and will be paid on 17 April 2026. I'll now hand the time back to Lachlan. Thank you very much, Damon. Let's begin with new vehicle sales in the 6-month to the end of December 2025, and onto Slide 10. New vehicle sales for 4x4 pickup and SUV variants, where ARB has its highest attachment rate, was challenged. This not only affected the Australian aftermarket business, but also ARB's OEM channel. Given ARB's association with Ford through our licensed accessory program, we watched the Ranger and Everest sales very closely. Despite a strong month in December for the Ford, Ford Ranger, it finished the year half down-- the half year down by 1%, while the Everest was down 9% on the prior corresponding period. ARB produces aftermarket and OEM product for Isuzu and Mazda. In the half, the D-Max, MU-X, and BT-50 all declined over the prior six months, most notably the D-Max pickup sales were down 13%. Toyota recovered its Prado 250 sales in the half with a 67% increase, comping off the model change in the prior corresponding period. The iconic Land Cruiser 70 Series and 300 Series both experienced off sales. While ARB continues to invest in existing and new product for the BYD Shark, models where we are confident of higher accessory attachment rates, such as the new Ford Super Duty and Toyota Hilux, have been prioritized through the business. Unfortunately, January 2026, new vehicle sales continued this negative trajectory, which we'll hope to see recover during the balance of the financial year. Onto Slide 11. Touching on the Australian aftermarket, today, ARB store network comprises of 79 stores nationally, up from 75 stores this time last year. In line with new vehicle sales, in the first half of the financial year, the ARB domestic aftermarket declined by 1.7%, which now represents 56.9% of total sales. With resolute confidence in the future of the business, ARB and our independent store owner network continue to invest in the future expansion, which I'll dive into further in the following slide. As Damon has commented, the back order, the order book at the end of the half finished up 5% compared to December 2024, which gives us confidence as we head into the second half of the financial year. In lockstep with our independent store owners, ARB is re-expansion opportunities for specialized resellers for specific products where ARB may not necessarily access a customer through our ARB store network. Specialized mechanical driveline shops for our air locking differentials or auto electrical stores for ARB's aftermarket lighting lineup are examples which we are currently pursuing. The partnership between Ford Motor Company and ARB continues to flourish. Whether it's on a Ford national television advertising campaign, or driving past a Victoria Police Ford Ranger adorned with ARB product, the solution Ford and ARB provides to our collective customer base has definitely resonated with the market. In later slides, I'll speak to the launch of the Super Duty platform, which has now been integrated to the FLA program. Moving on to Slide 12. In the half, we completed 1 upgrade of a flagship corporate site and added 2 all-new independent flagship stores. Confident in the future of ARB and the profitability of these stores, our mapping of Australia, combining new vehicle sales, distribution of wealth by postcode, and other key inputs, suggest there remains a lot of headroom for store expansion. To our partners, James Whitworth and the team in Mildura, Mildura, Victoria, and to Matt Pawlicki and the team in Griffith, New South Wales, thank you for your commitment and effort to launch all new flagship showrooms. It's deeply appreciated. To our ARB corporate team members in Launceston, Tasmania, and to our new employees in Warragul, Victoria, we appreciate your contributions to the business in bringing your stores to market in the last 6 months. Pleasingly, for the balance of 2026, we have 2 priority developments. Globally, ARB's largest footprint store in Townsville, Queensland, will launch in FY 2026, in addition to an all-new corporate site in Metro Sydney region. In FY 2027, the expansion continues with 2 all-new stores and 3 flagship upgrades. Moving on to Slide 13 and our e-commerce program. When COVID arrived on our doorstep 5 years ago, there was a reflection point on our retail strategy in Australia, as we were unable to transact with customers online. While we're far from a box in, box out business, given the need for the majority of our products to be fitted, there is a customer demographic that either prefers to shop online or are capable of DIY fitting, that do make our products less accessible by exclusively being a brick-and-mortar retailer. This really challenged ARB's management during COVID with an incredible temptation to stand up a simple e-commerce platform. After careful consideration, we knew there was a much bigger long-term play in designing a best-in-class, integrated 4x4 accessory e-com site that provides a seamless customer interaction online, with the incremental benefit of our omni-channel offering, where a digital experience is complemented by our in-store customer service. The road to a best-in-class site required significant investment in proprietary tools that supported the success of this site. These include an e-catalogue, which provides a guaranteed fit of ARB parts to the complex car park in Australia. We've worked extensively with our independent store network to ensure their business is integrated to the new site, and their primary market area is respected online. We've also worked with premium vendors to ensure our site uses best-in-class technology. As referenced on screen, we have 1 million unique visitors to the ARB USA, the arb.com.au website today, which, with quick calculations referencing our e-commerce site in the USA, based on average order value and conversion rate, suggests this will become an important commercial channel for ARB. Additionally, we note that the different demographic between an in-store customer to those browsing the ARB website, where over 60% are aged between 29 to 44, suggesting opportunities to reach new customer demographic and bring these guys into the brand. The store is now live as of last week. We've traded seamlessly through our first weekend. Orders and quotes are strong, and we're looking forward to a brave new world for ARB. I'll play the following video shortly, which will give you a quick recap of the features of this brand-new site. Excellent! Hey, to all those online, please jump on the new website and have a browse. We think it's pretty special. Just a quick update on the Ford Licensed Accessories Program. Just as a reminder, this is where we've partnered with Ford Australia and Ford globally to deliver in excess of 180 branded accessory products for the Ford Ranger and Everest platforms, available through Ford dealerships with a full 5-year Ford backed warranty. As an extension of the partnership, Ford and ARB have collaborated on a special interest pack for Raptor. These special interest packs support an OEM's mid-model life cycle strategy to reignite excitement in a model that is in the middle of its lifetime. In the half, Ford released the Ford Raptor Desert Pack, which features ARB branded sports bar, 4 Nacho quattro lights, along with a number of other Ford upgrades. The Desert Raptor Pack is now available to order at Ford dealerships. The Ranger Super Duty is now in market. Our FLA partnership has flowed through this model and, as presented at the AGM, we believe is a customer profile directly in the bullseye for ARB product. Early indications suggest accessory attachment rates are high and, in some products, exceeding our expectations. We continue to discuss with Ford further product expansion opportunities for this model. Later in the presentation, I'll quickly touch on ARB's marketing push for the Super Duty. Moving on to our international business. On slide 17, we see ARB's export business achieved 8.8% growth in the half and now represents 38% of our total business. Asia, New Zealand, and the Pacific region performed well with 6% growth. Unfortunately, our European, Middle East, and African business declined 6.9%, which I'll speak to later in the presentation. The USA again outperformed, achieving a fantastic 26.1% growth to the half. Despite very challenging economic and political environments, with the recent tariff news is seemingly going to continue, we're dedicated with the progress of our sales, marketing, and distribution channels in the Americas. It's important to note that the Off-Road Warehouse, 4 Wheel Parts, and Nacho revenue is not consolidated, and therefore this revenue is excluded in the outdoor door sales of the ARB USA business. Moving on to slide 18. Again, as a quick recap, on September 9th, 2024, my apologies, ARB announced that Off Road Warehouse, ARB's associate company in the USA, had entered into an asset purchase agreement to acquire the 4 Wheel Parts business, which includes 42 retail stores in the US, alongside associated IP, including the 4 Wheel Parts e-commerce business. The acquisition was finalized on October 18, 2024, for a provisional amount of $30 million, which was subsequently adjusted down by $4 million as a result of excess and obsolete inventory. Combined with ORW's existing 11 stores, this significantly expanded the retail network to 53 stores and provided ARB with the majority opportunity for a long-term brand and sales expansion in the U.S. To facilitate ORW's funding of the acquisition, ARB increased its ownership interest from 30% - 50% for AUD 16.7 million and provided a loan to ORW of AUD 7.5 million. The main shareholder partner of Off Road Warehouse is Greg Adler. Greg's family founded 4 Wheel Parts in the 1960s. Greg has spent the majority of his working life in the business, including over two decades as CEO of 4 Wheel Parts, and is happily back at the driving wheel, running the family business to its former glory. Moving on to an update on Slide 19. In the 8 months of trading, 4 Parts has successfully integrated over 500 employees to the business, transitioned the ERP system, closed a total of 5 stores, 3 of which were geographically close to other stores and 2 were underperforming. The business now has a total of 48 stores. We've restructured a loss-making e-commerce business back to profitability, and as a result, the business has achieved a net profit before tax shift of $3.5 million from the second half of 2025, noting that we acquired a loss-making business. At 30th of June 2025, ORW had a positive cash balance of $14.5 million, and as reported by Damon, has repaid its ARB debt facility in full. With all of that, the comeback has just started. Through a lot of operational heavy lifting, Greg and the team have begun to raise their eyes to grow the business. Optimization of existing store network remains a strategic priority, and while we're better in many of these stores, there's a lot of room for improvement. We have fantastic engagement with our supply partners, who are eager for a deeper engagement with a fresh-looking 4 Parts business. Truck Fests have been a long-term known strategy where the business plans and executes customer-facing retail shows to provide access for manufacturers directly to the retail public. Four events have been planned for 2026, with great excitement from our retail customers and valued suppliers alike. Expansion opportunities across new locations and possibly specific house branded categories are being considered. Moving on to slide 20, which speaks to the ARB product sales inside ORW and 4 Wheel Parts stores. Again, a good news story, where ARB product sales have achieved excellent results. The product exposure and education are a priority through the retail and e-commerce sites, both of which have significantly improved. On a like-for-like store basis, ARB product sales through the ORW 4 Wheel Parts channels are growing at over 100% on prior corresponding periods. I'm pleased to report that the store in-store ARB displays passed probation. We now move on to our next batch of 6 stores, which include, in April, Kearny Mesa, California, Las Vegas, Nevada, Denver, Colorado. Then in May 2026, Dallas, Texas, and Orlando and Doral in Florida. Following the completion of these stores, we will assess the timing and activation of our next bunch of store developments. ARB, of course, will also have a fantastic presence within the Truck Fests presented on the previous slide. Moving on to slide 21. With great credit to our team at ARB USA, led by Rich Borlase, we're delighted by our continued growth of 26.1% in the half and the continued strengthening of the ARB brand in the U.S. market. All sales channels performed well in the U.S., Latin America, and Canada, including our strengthening partnership with Toyota USA. On to Poison Spyder. As a part of the Wheel Pros Chapter 11 process, there was an opportunity to acquire an iconic off-road brand in the USA, which is close to the hearts of Jeep enthusiasts and rock crawlers alike. This is Poison Spyder. Rock crawling, rock crawling legend, Larry McRae, drove the brand to its original heights after various ownership changes, including time as a part of the 4 Wheel Parts family. The sleeping icon has laid dormant or semi-dormant for a number of years. Under ARB's ownership, the brand has now relaunched with much excitement, both online and at events such as King of the Hammers in Johnson Valley, California. Product is now in market, demand has exceeded original expectations, we're in backorder. The dedicated e-commerce site has now launched, we're looking for product expansion opportunities. Watch this space. To finish, the U.S. update, ARB has leased a 8,100 square meter facility in Norco, California, which is approximately 80 kilometers from downtown L.A. The expansion site will support ARB's future growth on the U.S. West Coast, housing engineering, Poison Spyder, the expansion of 4 Wheel Parts ORW, and new products ARB will bring to the market in coming months and years. Unsurprisingly, today, our largest single market on the West Coast of Eastern California, we're servicing this market from our current Seattle location, is slow and expensive. As a result of this, we will close the Seattle distribution center, but retain a core team of marketing, product management, operations, and administration in Seattle. Moving on to slide 22, talking through further international business. Planning for ARB's presence in China through our Wholly Foreign-Owned Enterprise remains on track. Confident with this presence, we'll stabilize then grow this important market. Opening is planned for April 2026, where customers, OEM partners, and key dignitaries will attend the event. Product is on the water. We will, we look forward to providing sales updates in future presentations. An important miss for the half was our business in Europe, Middle East, and Africa. The business was materially impacted by three factors: A reduction in customer demand in the aid and relief sector. ARB has previously reported our frame agreements with organizations such as the UNHCR, World Food Programme, Médecins Sans Frontières, all have experienced cuts to their funding in the last six months. Isolated non-recurring issues with key customers in Africa have also weakened the first half trading. In addition to which, lower 4x4 pickup sales in key European markets affected sales, as reported by Damon. Offsetting the lower aid and relief sector spending, we've seen increased tendering and contracts in the defense space, which we anticipate will support improved sales in this region in the second half of the financial year. Truckman in the U.K. performed well in achieving a 5.2% lift in revenue. This result was achieved despite a 13% reduction in re-registrations of pickup models, key to the Truckman business in the first half of the financial year. ARB product sales, combined with additional defense spending, supported this growth. Moving on to slide 23 and ARB's OEM channel. To the next slide, sorry, 24. Thank you. The OEM channel has had a tough six months, with a 38.2% decline. We'd previously flagged a reduction in sales, a combination of increased inventory holdings by OEM partners and lower vehicle sales affected platforms and compounded this result. The result does not reflect a loss of any OEM contracts. It does indicate softening of specific models key to ARB's OEM and aftermarket business. In the prior corresponding period, ARB was delivering Toyota genuine Prado bull bars at this, which, as this vehicle ramped up, exacerbated the decline in revenue in this first half. Given the multi-year time frame of these OEM programs, ARB is actively pursuing business with both new and existing OEM customers. Moving on to slide 25. Consistent with our Trailhunter program in the U.S., investors will have seen an increase in ARB brand partnership collaborations with Toyota markets outside Australia. ARB has been working with Toyota for over 40 years, and it is immensely proud of this partnership. ARB is delivering branded content on the recently released FJ Cruiser in the top right-hand corner of the screen, which is a platform restricted to specific markets outside Australia. We also collaborated closely with Toyota Thailand on the release of the Hilux vehicle, which we hope to see further commercial opportunities into the future. We'll move on to our product section, firstly, to slide 27 on the winch. ARB has respected our long-term partnership with Warn Industries, the global leader in the design and manufacture of electric recovery winches. This relationship was specific to the Australian market, but in markets outside Australia, where the recovery winch remains an important accessory, we didn't offer a solution to our customers. Given ARB's investments in distribution, particularly retail-facing channels, this is an incredibly important accessory to complement our bull bar offering. Over the last two years, our engineering team have been working on innovation in this product category to bring something new to market. The ARB winch, in addition to its fantastic styling, also integrates the contactor pack back into the winch to enhance both performance and the ease of installation to vehicle platforms. Demand has again, exceeded initial forecasts, where we have prioritized our international business units. First shipments will begin arriving with customers in March 2026. The next few slides, we won't move slides yet, speak to the application engineering, which has consumed the lion's share of our development resource over the last 6-8 months. Speed to market is everything in our industry. We're incredibly fortunate not only to have an outstanding design and production engineering team in Kilsyth to get products ready, but also a highly capable factory that lets us build first units in Australia to put product in customers' hands as close to vehicle launch as possible. The next video showcases the already mentioned Ford Super Duty. If we can please play the video. From our Summit MKII bull bar to the Slimline Base Rack, Old Man Emu suspension, and our MITS Alloy service body, thanks to our partnership with Ford, ARB was ready at vehicle launch with a full complement of products. These products were incredibly well received by customers, which today is converting to very strong product demand. Moving to slide 30. Just in market is the facelift Toyota Hilux. ARB benefited through our association with Toyota Corporate, with early access to vehicle data and a physical vehicle to prepare for launch. Conscious of the differences in vehicles between international markets and Australia, and also to integrate our offering, we have taken time with an Australian specification Hilux to fine-tune designs of products, such as the bull bar, canopy, and suspension. These products are now in production in Kilsyth and shortly in Thailand. Deliveries to customer back orders are now imminent. While there has been differing opinions in the market to the new pickup vehicle, it's a Toyota, and those loyal to the quality of product and the service offered by Toyota will continue to buy Hilux. When the ARB offering was presented to market, it was very well received, which we're seeing come through now in initial customer orders. Onto slide 31, to recap ARB's 50-year celebration. From our very humble beginnings out of a family garage in Croydon, Victoria, in 1975, the company has come a long way in 50 years to be a true global leader in the design, manufacture, marketing, and distribution of our 4x4 accessories to outdoor and off-road enthusiasts around the world. We used 2025 to thank our employees, suppliers, and also engage with our incredible customer base who follow ARB's journey. The 50th-year celebration gave us the opportunity, through various digital channels, to explore our most popular Australian destinations, but also provide aspirational insights to off-roading in far-reaching locations such as Mongolia, South Africa, the UAE, and Morocco. As you can see on screen, the engagement with our fan base was remarkable and will serve as a great springboard as we strive to grow brand awareness of ARB through the next 50 years. Finally, onto the outlook. Sales margins in the second half of 2026 financial year are expected to be broadly in line with the first half. As explained by Damon, in recent weeks, we've taken the opportunity with the strengthening Australian dollar to hedge our Thai baht exposure, largely removing this headwind in the second half. The Australian aftermarket remains a challenge. We actively monitor through OEM partners' new vehicle supply. In the second half, we see the Super Duty and Hilux as a tailwind, although we remain concerned about the supply of models such as the 70 Series Land Cruiser and 300 Series Land Cruiser. The customer order book remains strong, and looking beyond the next 4 months, ARB's investments in new store developments, as well as new channels such as e-commerce, will be incremental to ARB's revenue growth over time. The outlook in export is positive. We're confident headwinds experienced in the first half are behind us. The order booking in export is well ahead of December 2024, and we continue to see a long runway for growth in the USA as a result of strategic investments made in recent years. The OEM result in the second half will largely depend on new vehicle sales of those models ARB supports our partners with. The OEMs have reduced their inventory levels, which vehicle sales dependent should support improved sales in the second half. Overall, ARB's financial performance in the second half is expected to improve relative to the first half of FY 2026 and trade closer to the prior corresponding period. Closing the half with a very strong balance sheet and AUD 59 million of cash in the bank puts us in a very strong position to invest in our future. ARB management and the board remain positive about the long-term growth prospects of the business. An increasing population of four by four pickup vehicles, the best distribution network for specialized four by four accessories in the world, a strong and growing global brand, and a high-performing management team remain very excited about the future of the business. That concludes today's presentations. Thank you very much for everybody online for taking the time to join us. I'll now hand back over to Damon, to answer some questions that have come through. Thanks, Lachlan. A number of questions coming through on margin impact, I'll just consolidate and answer to cover all of that thereof. If we could perhaps just go back to slide 6 in the presentation, I'll just address the impact of the foreign exchange on the margins going forward. On slide 6, on the left-hand side, you'll see the average exchange rates for the half year. Second half, FY 2025, being January to June 2025, you'll see that the average exchange rate over that period is 21.7. We bought 21.7 baht to the Australian dollar at that time. Now we've locked in our... We've locked in the majority of our currency requirements for the second half this year at a rate just slightly above that 21.7. You do lose some forward points as you move, move your forwards out to June, May, and June. In terms of the exchange rate, we expect that the exchange rate will be very consistent with the second half of last financial year. We do have a little bit more to lock in, but it's not going to materially change that impact. In terms of the price increase that we went through in February, that price increase, it was suggested on one of the questions that it was a large price increase of 4%-5%. It was an average price increase of about 3%. That price increase went through in February. We expect to see the benefit of that flowing through at the back end of the second half, so probably through that late April, May, and June period there. We will get a little bit of uplift from the price increase, but it will take approximately 3 months to flow through February, March, and April before we see the benefit of that flowing through to our results, given the order book we have and the open and back orders in place. Just, again, in terms of the Thai baht, look, if the Thai baht stays where it is, we'll, we'll obviously start at some stage looking to take cover into the first half of the next financial year, into that July and post-July period, and we should, we should see some, some favorable impact as we move forward into the new financial year. A question here about, as GP margins deleverage with the weaker baht and lower factory absorption, shouldn't we see those-- shouldn't we see it reverse should those conditions change? The answer is yes, but the Thai baht's now trading back below 22 baht. So it won't be as material a change upward as it was on the way down when it went from 23.7 baht last year to 21.1 baht this year. we, if the Thai baht strengthens back to THB 23, yeah, we'll see a complete reversal of what has occurred in this first half. If it sits where it currently is, then, obviously, those margins will continue forward, and we'll get some, some price, some, some improvement in gross profits from the, from the price that was taken in February, the price increase. The question around second half financial performance being closer to the prior period, that's in reference to absolute AUD rather than to profit before tax margin%. Just to be clear, that's in reference to absolute AUD. I think that's it by way of margins and financial questions. Lachlan, if any more come through, I'll pick those up, but I'll just hand back to you. Okay. Thanks, Lachlan. -to respond to the other questions. Yeah. Okay. Okay, thanks, everybody, for the questions that have come in. I'll just start with one around the timing and the release of the ramp of the Toyota, Toyota Asia partnership in terms of supplying product. In limited quantities, product has commenced supply. There's a number of products, if you've got a keen eye, including the roof rack and a couple of other things on the FJ Cruiser. We have further products that we have been contracted with on that model that have not yet commenced supply, but a limited number of accessories have commenced supply into Toyota Asia, which is fantastic. The next question relates to the BYD Shark. ARB is watching BYD Shark accessory uptake. How does it compare currently to, say, ARB's key models? How do you balance having product ready for Shark versus the uncertainty on accessory take-up? There is a finite engineering resource at ARB. We do believe BYD as clearly an opportunity in market, which is, which is obvious. They've done a great job in bringing that vehicle to market. Do we see the attachment rates on a BYD Shark as high as platforms like the Super Duty and like the Hilux? Clearly, the answer to that is no. We have prioritized those two models as examples of product that we have pushed through our design and production engineering teams. With that said, and as has been presented to market previously, product is available for the BYD Shark today through ARB channels, and we'll continue to increase that offering on that platform. Again, conscious with constrained engineering resources, we have taken the decision to prioritize those other two platforms. I, I certainly would suggest that we don't ignore the success of the BYD Shark. We know with confidence that both the Super Duty and the Hilux have higher attachment rates. How confident are you, is the next question, in your growth earnings for FY 2027? I, I think in the outlook, we've provided enough update as we're prepared to give, so hopefully that gives you some, some indication as to where we sit, both for the balance of the year and hopefully some indications as, about where we see the future. The next question, where you say the Australian aftermarket, the company's order book remains healthy, with daily sales and order intake close to historical highs, are you implying that revenues are on track towards AUD 201 million? Again, there we've given, I think, as much information as we're prepared to provide in, on the outlook slide, so that hopefully covers that one off. Can you explain further to what drove the softer results within EMEA? Spoke to unassociated challenges versus non-recurring. Yeah, I, I suppose with transparency, it just, it does speak to a major distributor who had a significant health concern during the year, which slowed the business down. Which, you know, on reflection, it's, it's a succession planning and corporate management piece that we have to organize. That health condition is behind the owner of that business. The business has started to pick up, but it does highlight for the business some weakness or susceptibility with respect to succession, that when a single individual goes out of the business, we can have that type of slowdown. That's certainly something we're looking to address going forward. Can you provide further details on the composition of export business within EMEA? How is the split between military, foreign, and independent retail? It's a very good question. What I would speak to in my exposure in the 25 years to those markets is there has been a shift away from retail to fleet. Fleet is a growing and important part of those businesses and something that we have actually invested in dedicated resources in that space, including the OEM channel for the European market, so that we can continue to grow. I wouldn't say by any stretch that means that the retail market in Europe is softening. There are certain product commodities that continue to be very, very positive. Our product offering, given its practical use application, is definitely more targeted towards that fleet demographic and is a part of the growth of our European business, in particular, over the last sort of decade or so. I think I've covered off the European questions. What percentage of total export sales does ARB USA currently represent? The answer to that is 43%. That covers that off. Toyota's commenced calendar year 2026 at a slower rate. Are you seeing supply impacts within Toyota, or has the Hilux launch been a little lackluster relative to prior new generation launches? Do you expect Toyota volumes to improve over the next six months? Look, there's publicly available information, for example, on the Land Cruiser 70 Series, where Toyota has actually indicated that they've stopped taking orders. We receive forecasts from OEMs, which are their best view of the future. What I would say is, my understanding is Toyota is supply constrained, not demand constrained. Every model that we know of that Toyota has is back ordered within the system. We actively monitor key models such as the 300 Series, the 70 Series, the Toyota Hilux, and the Land Cruiser Prado, and on a lot of those months, you are waiting many months, up to 6-8 months, for a new vehicle if ordered today. Now, the soup of Toyota and how they decide in, in their way of playing God between their international markets is quite confusing. The Land Cruiser Prado, which is built in Japan for the U.S. market, has been incredibly popular and has outperformed expectations, which may have a supply impact to the Australian market, possibly. We see models like the Toyota Hilux, which is now in market in Australia. We know that that vehicle is not going to be available to purchase in the U.K., for example, until the back end of this calendar year. Like the person who wrote this question, we too are quite confused in some instances about how Toyota decides to allocate vehicles to market. There's compliance issues, there's all sorts of things that I'm sure go into their thinking there, but it's something we obviously certainly watch a lot. The next question: "Can you please discuss how the vehicle model changes affects the OEM revenues and aftermarket revenue timing? This is something not well understood, and it also opens up on Europe impact of vehicle supply patchiness, et cetera, et cetera." I think in answering the last question, that is sort of covered off. I'd really, again, take the time to highlight, this is not only something that's relevant to Toyota, but certainly Ford fights this as well, where it's not always a question of demand in the market, it's definitely a question of supply. We know for a handful of those models, and certainly for the Super Duty right now, if Ford could build more vehicles and send them to Australia, they'd be selling more vehicles, which is, which is a good news story. I don't know how to translate this question. "Just to clarify, the... Oh, the 100% product sales with reference to the entire 4 Wheel Parts network." This question just is seeking to clarify our doubling, effectively, of ARB product sales through the 4 Wheel Parts ORW network. This does not just represent the 1-2 stores. This is a year-on-year comparison to the prior corresponding period. Through the 48 stores, our sales have doubled. We have to highlight that they are coming off a weaker volume, but we're seeing incredibly strong penetration through those stores. The next question speaks to the probation, which is interesting wording, probation set for the 2, 2 stores. There was some commercial decisions wrapped around those 2 stores on probation. There was some customer experience that we baked into the decision to move ahead with further stores. There was certainly a lot of feedback from the store managers that we baked into our decision. There was also us making sure that the experience resonated with the customers. You know, we call a bullbar a bullbar, they call it a bumper. There's different ways that they present suspension to market, et cetera, et cetera. We just wanted to make sure that the physical representation of our products into those stores resonated with the market, which we're confident that it has, again, we move forward, which is incredibly exciting. "Have ARB products needed to stock the U.S. store and store rollout been booked in sales?" If it was, it would be immaterial to the business, so I don't think that's necessarily relevant in terms of revenue, and our good accountants would probably capitalize that investment anyway. There is one more question: "Any comment on the tool or impact on aftermarket sales and profitability?" Immaterial on both fronts. Yep, that covers that question off. Damon, do you have any more? Look, Lachlan, I'm conscious you haven't seen these, but just wanted to give you an opportunity just to respond to whether it's worth investing more in engineering capability, given the changes in the car park. Good question. Look, there's, there's a couple of answers to that. Number one, we've presented before to market the investments that we are making in the US, and so, yes, and we, we certainly are planning for further engineering expansion in Australia. I suppose the best way to speak to that is the, the explosion of models and the pr- proliferation of new entrants to the market means that we have to have more engineering resources to get more product to market. It would be a fair criticism to say, you know, we've had to prioritize Hilux and Super Duty over BYD Shark. Why can't we do all of them at once? And of course, including the Kia Tasman, which has also come to market recently. Lachlan, we've cited fitment resources as a headwind to results again. Question is around, you know, have we increased the number of fitment bays in flagship stores and focused on labor? Does this get resolved, is the question. Yeah, look, it was only because we, we see it as a perennial issue facing the business on a go-forward basis. We've restructured the incentive plan for fitters in the first half of the financial year, where there's some performance-based incentives, which we really only finalized the rollout in, in December. The effect of that has been really positive. We're actually seeing retention rates improve. Rather than speak to that, with limited data in this half year results presentation, we wanted the time to have that mature in the second half of the financial year, so we can report back more specifically. Initiatives across the board, again, the Filipino fitters and the international fitters continue to be a focus. Our onboarding of team members is a weak point that we need to improve so that we get better engagement earlier and retain those fitters. As always, there's a raft of measures that we're undertaking through HR, and through the business to continue to improve in that space. I would say in the, in the first half of the financial year, we have made inroads, particularly to holding on to those staff members that join us. We hope to be able to present further to this in the full year presentation. Okay, we're nearly 1 hour in, that will that'll conclude today's presentation. Both Damon and I, again, would like to really take the time to thank you all for joining online, and we look forward to seeing you at the next presentation. Thank you again.