Thank you very much, and thank you to everybody for joining us this afternoon. We're going to be reporting McLaren's first half 2021 results. I'll be following through the presentation that we posted on our investor website today. If we can move on to the second slide, please. I won't go through all the bullet points on this. We've been following this strategy for the restructuring of the company since we went into the period of the COVID-19 pandemic, and you have been following much of this. I'll just go straight to the last two bullet points, which are really the updates since we have had our last call. We've now completed the sale of McLaren Applied, and we've also successfully completed the GBP 550 million equity investment in the group and the refinancing of the group's super senior revolving credit facility and senior secured notes. Again, I think that has been reported, but it's just to confirm that we're completing that journey of restructuring the business. Moving on to slide three, looking at the H1 results. I'll go through each bullet point here. First half 2021 revenue compared with the same period 2020, we had revenue of just short of GBP 360 million, up 110% compared with 2020. T he first half 2021 EBITDA of GBP 94.6 million, a significant improvement over the first half results of 2020, where we had a loss of over GBP 100 million. We've seen a material improvement in the last 12 months EBITDA in the first half of 2021, with GBP 194.1 million versus a loss of GBP 14 million for the first half of 2020. It is principally driven by increasing vehicle wholesales as the restrictions resulting from COVID-19 have lifted. As I said on the prior slide, we've now completed the equity investment in the refinancing of our facilities. It's worth also noting as well that the corporate revenue relates to the costs that's recharged in the McLaren Racing potential facility. That's the element in the chart on the right, in the pie chart. Moving now specifically to automotive, the McLaren Artura launch in H1, the marketing launch, has been very successful. First deliveries of the car are expected in Q4 2021. COVID-19 has continued to impact on the business, causing instability in the supply base. It's inhibiting retail and marketing activities, and it's causing challenges in our product development process. All of these disturbances are reducing compared with that that we've experienced, but we're not finally through this period yet. First half year wholesales at 1,112 are up 90% compared with that same period in 2020. The wholesale order book as of June this year, stands at 1,237 vehicles, with around 75% of those vehicles being supercars and the balance split across the GT and Ultimate Series cars variants. That order book, as we always report, represents the five-month committed position we have with customers and retailers. Again, as already stated, the McLaren Applied business was sold in Q3 of 2021. Just again to note that racing, McLaren Racing, is now an unrestricted entity and equity accounted outside of the restricted group which we're reporting. Moving on past slide four, which shows the Elva with the windscreen, which we've recently relaunched as a variant for those markets that require that facility. Into slide 5. Just some bullet points specifically around automotive. Our revenues in first half 2021 were at GBP 334 million, up 134% compared with that period in 2020. Production wholesale continued to strengthen through the year. H1 2021 performance was further enhanced by a strong mix of products with significant contributions from premium vehicles such as Elva and the 765LT Coupe. We have now announced the 765LT Spider. We've started the marketing launch of that car. I'll talk a little bit more about that product as we move through this presentation. Following the launch of Artura, again, the marketing launch from February of this year, we've experienced very strong order book with increased customer demand. This is our first ever series production high-performance hybrid supercar. We're building up a very strong order book. Customer deliveries of the Artura will commence in Q4 2021. There have been delays due to the final sign-off and certification as a result of the restrictions we've experienced through this period of pandemic. We have had a very strong response to our marketing, and we will have a global media drive of the car, which will communicate the car out through the press in October of this year. A limited number of suppliers continue to experience COVID-19 related issues, and this has delayed delivery of some parts to our production center. However, there has been minimal impact from the microchip shortage that's been widely reported across the industry. Elva is on track to complete all of the forecast deliveries through 2021. In spite of a resurgence of COVID in a number of markets around the world, the retail network remains open. We only actually have one retailer closed currently, and we've recently announced the opening of our 100th retailer in Shanghai in China. Moving on to slide six. Giving some more detail around the 765 LT Spider. A very significant car for us in many ways. Clearly, very strong vehicle in terms of communicating the brand. It has a limited production volume of 765 vehicles. Some of those will be built and sold through the back end of this year. The majority of those vehicles are in 2022. We haven't yet done the media test drive for this, that will also be in October of this year. It will be a relatively limited event because we are in the strong position of being oversubscribed for the full production of LT Spider. All of 2021 is allocated and we're just now allocating through the registrations of interest we have from customers for 2022. Moving on to the next slide then, and looking at the wholesale position across the globe for the first half of the year. Our focus now is clearly on delivering the balance of our volumes through 2021. The majority of those vehicles are now ordered. The production center and CTC, so our Sheffield Composite Technology Center, are now running and producing the volumes anticipated. We have strong demand in the Asia Pacific markets. We are still seeing some impact on local retailers in this market as there is a resurgence of COVID-19 in individual countries and restrictions being applied. Largely speaking, it's not impacting on the demand that we've seen coming through strongly from Asia. We're also seeing strong demand in North America. There are, however, some restrictions still existing in the European countries. It's worth noting that retail performance remains a very strong driver, exceeding our wholesale performance and very much supporting the wholesale plans that we have for the business. I'm going to pause there now and hand over to Kate, who will talk about the group financials. Thank you, Mike. Good afternoon, everyone. I think we now find ourselves on slide 9 of the presentation. I thought before diving into the financials, I'd just give you an overview of the new group structure following the equity raise and the refinancing that we completed at the beginning of August this year, Where we issued GBP 550 million of new preference shares and $620 million of senior secured notes. I think the key point to highlight on this slide is that the restricted group is now the automotive group, for reporting purposes. We will still produce the usual annual report in April, and of course, that will be McLaren Group. That will incorporate all group companies, including racing. Just on the topic of racing, you'll remember that in December last year, MSP Sports Capital invested GBP 185 million into racing. Of course, this investment fully funds Racing's business plans for the next few years. No financial obligation from the Automotive Group. Just a reminder that Racing has been carved out of the debt-restricted group, and is now a direct subsidiary of McLaren Group, with various commercial arm's length agreements in place. I think if we move now on to slide 10, the summary of the key metrics. As we emerge from the pandemic, clearly H1 shows a much better picture across the board versus this time last year. As Mike's already pointed to, we can see strong revenue growth given the wholesale volume's up 90% H1 versus H1 last year. That's from GBP 584 to GBP 1,112. We're still targeting between 3,000 and 3,250 units for the full year. For FY 2021. Even taking out the sale and leaseback gain, if you look at the underlying EBITDA for H1, it is materially stronger as volumes pick up, versus half one last year. Liquidity closed H1 at GBP 79 million, but of course it materially improved to GBP 197 million by the end of August following the completion of the equity raise and the refinancing. Likewise, net debt also improves materially post the period end. Also, you can see finally there, a good reduction in CapEx as we maintain our guidance of GBP 150 million-GBP 200 million over the next few years. You'll remember historically, it was well over GBP 200 million. Just as a reminder, the reduction really is driven primarily by the investment that we've already made in the Artura platform, which will serve other models in the medium term. If we move now on to slide 11. The reported EBITDA bridge, a slide you'll be used to, really now relatively simple. We've already covered the key drivers of the EBITDA generation, but the only other point I would add on this slide is that the model mix was also richer in H1 2021, with a significant increase in Super and Ultimate Series wholesales and a reduction in the lower margin Sports Series. Moving you then on to slide 12. Looking at the group cash flow. We start obviously with the material improvement in operating performance that you've already seen through the profit and loss account. On top of that, in the period, we saw a modest working capital outflow, $15 million in H1. There are three key moving parts here. As you'd expect, we are holding more stock, an outflow therefore, as we anticipate a good H2. Creditors actually have reduced, causing an outflow. I think this is timing more than anything. We're just seeing less trade finance at the moment. Actually, we are though seeing, which is a really important factor, much better cash collection, which is very much part of our strategy to improve working capital management. Other highlights, I guess, from the cash flow, we've obviously got the cash coming in from the sale and leaseback that was realized during the period. I've already mentioned CapEx, you can certainly see reduced CapEx year-over-year. If you think about other key financing movements happened after the period end. In terms of financing, you've really just got the GBP 85 million relating to the partial redemption of the senior secured notes. Finally, if I can move you on to slide 13, so where we look at net debt and liquidity. In the first half, the gross debt was still reflecting the $250 million and £370 million, those were our five-year senior secured notes, which we issued in July 2017. Of course, the GBP 100 million issued in July, August 2019. This was fully repaid post the period end, at the beginning of August. What we have today is $620 million of senior secured notes, as I mentioned earlier. This obviously extends the maturity date of our secured borrowing to August 26th. We've also got a new revolving credit facility that remains undrawn currently, and net debt as of the end of August was GBP 306.2 million. Obviously, a significant reduction from where we were at the period end. Following the completion of all the transactions above, liquidity at the end of August was GBP 197.1 million. I think concluding remarks would be that the refinancing activities that we undertook over the summer certainly ensure that our business plan is fully funded over the coming years, and it is a plan that certainly delivers EBITDA growth and ultimately cash generation. I think unless there are any further comments from Mike, I think that we would hand straight over to Rene. Yeah, I think that's fine, Kate. Thank you. Okay. If you would like to ask a question, please press star followed by one on your telephone keypad now. If you joined us online, please press the flag icon. To remove your question, please press star followed by two. As a reminder, that is star followed by one to ask your question. Our first question comes from Tom Elliott from Royal London Asset Management. Please go ahead. Good afternoon. Can you hear me okay? Yes, thank you. Fantastic. Just one question from me. It's just on your liquidity. Slide 10 to slide 13 note, GBP 197 million liquidity at the end of August. If I look back to the new issue, pro forma, you had GBP 383 million of liquidity. At both points in time, the GBP 55 million RCF remains undrawn. I was just wondering, it's a 5-month period since your pro forma new issue numbers, and you've presented 6 months figures to June 2021 today. You touched on working capital earlier and other financing after the period. In terms of that cash move from pro forma figures at the new issue to this GBP 197 million in liquidity, the end of August, I was wondering if you could just bridge that and provide some color. Thank you. I wonder if I'm just thinking, I'm just looking at Steve here. I can just do this here. Sorry, bear with us. We're just trying to do the math to match. Yeah, sorry. To match I wasn't really making notes as you were talking there, but essentially. No problem. It may have been oversized on my part, but I’m just finding it a little bit tricky to put all the numbers together. If you could just lay it out for us, that’d be very helpful. I think what I might do is maybe do a quick bridge for you, and then we'll. Sure come back at the end of the call. I think the key is obviously going to be a lot of moving parts between the period end and today and all the various financing pieces and the transaction costs, probably in hindsight, maybe it would have been useful to lay that out. If we move on to the next question, then I'll literally give you a kind of line-by-line bridge to get you there. That'd be very helpful. Okay. Thank you. Our next question comes from Robert Schwartz from AllianceBernstein. Rob, please go ahead. Hi. Thank you. Just two quick ones. one, can you tell us what the retail units were in the first half last year? You're good at asking us questions we haven't prepared for today. I think, Wholesale was. Retail units. wholesale was just over GBP 500. I've got hold still. I'll just have to have a quick look. Yeah. Give us two minutes, Rob, and we'll give you the exact answer as we go back into our numbers. Sure. Do you want to go to your second question? Yeah, my second question. August 306. Can you give us any indication of where you think that may end the year? Would it be at that level or above or below that level? Sorry, in terms of retail? I'm talking about, sorry, net debt at the end of August was GBP 306 million. I'm just wondering if you can give us any guidance on where that may end the year. Is it going to be above or below that number? Yeah. As you know, we don't tend to guide on cash, but I suppose giving all the financing activities, my best steer is at this stage, let's give a broadly neutral, but we're not really guiding on outlook at the moment. You're saying broadly, you think net debt at the end of August would be similar at the end of this year? You're asking where we get to for full year 2021, at the end of the year? Yes. I'm just wondering if you think you're going to generate cash from the end of August or not. I think we've been very clear that if you look at underlying cash flow, we wouldn't expect to really start meaningfully generating cash. I mean, within the operating business, within the automotive business, until towards the end of 2022, 2023. Obviously, there are a whole load of other moving parts in there, particularly some of the financing activities. I think just purely operating cash flow, I'd expect that. Combination of factors, obviously, as we begin to. Second half is stronger than the first half. It doesn't balance through to a positive position for the year. That's right. You're saying second half cash flows will be stronger, but it will not be enough to generate. Yeah. No, that's what I'm. The year, if you think about this year as being one of still emerging from the impact of the pandemic, and the year is progressively strengthening as we move through it. You'll see a stronger H2 than H1, but not enough to offset it all, and as Kate said, not enough to move us into a positive cash position for the full year. Yeah, right. That was my assumption. I was just wondering from end of August net debt, do you expect to generate cash for the next four months or not? I think you can probably listen to Look, I think at this point, let's say, I'd prefer probably not to guide, if that's all right. I think the general direction is that we will continue to modestly consume cash at the underlying operating business until end of 2022, early 2023. Okay, great. Thank you. Even in the second half, given that we're coming back, obviously strongly from the pandemic, but not yet generating cash. Our next question comes from Stephanie from JP Morgan. Stephanie, please go ahead. Hi. Thank you very much. Just a few modeling questions from me, discussing I guess the delivery cadence for 2022 of this 765LT Spider would be one. Also, you're talking about deliveries for the Artura. Can you remind us, have you disclosed what sort of quarterly delivery cadence that we could expect from that? My next question is just on your discussion topics about some delays related to COVID-19. Have you split out any of the impact from those delays that maybe we could expect, I guess, would be accretive to earnings in 2022, possibly, let's say, if this pandemic does really settle down next year? I think that would be helpful. Yeah. A few elements on that. 765LT Spider will start deliveries before the end of this year. The vast majority of the 765 units are in 2022. We'll see the majority of that volume contributing to 2022 numbers. Artura, we will start delivering this year. Forecast is delivery round about mid-November. That is a small delay from last time we talked, I think around 6 weeks. Won't materially affect our results for this year, as we have seen strong demand of our other products. We've got very low inventories in the market, which has drawn that demand through the production and wholesale. Our internal forecasts around our financials for this year are pretty much unchanged as a result of that. Next year, we see the Artura volumes being consistent with our business planning. Circa 1,800 units or so through 2022. Okay. We take our next question from Tom Elliott from Royal London Asset Management. Please go ahead. Hi, I just have another question. I was just wondering, so I think it's slide 10, you still anticipating between 3,000 and 3,250 units for the year, and you achieved 1.1 in the first half of the year. The order book stands at 1,200. I was just wondering, and just in terms of your, Don't need exact numbers, but just in terms of your thinking, how that order book at 1.2 translates into sort of the 1.9-2,300 units required in the back half of the year. Again, broadly speaking, as you look at 2021, it has consistently strengthened through the year from a demand perspective, but also from a supply perspective, we will only be bringing Artura into the mix Q4. Primarily in the first three quarters, we've been selling our Super Series 720S, some 765LT Coupes, the GT and a small number of Elva. We've got a broader product offering to sell into a stronger market Q4. Bearing in mind that you've got the volumes from the first half, you've got the order book, plus you've got what will be Q4, will be our strongest quarter. Our forecast is a little over 3,000 vehicles. We're not seeing to change the sort of forecast we're putting out there of around 3,000-3,200 full year. That figure is pretty consistent across retail and wholesale. The order book as it stands today, perhaps I'm misunderstanding this, but there's no Artura in that order book today. Yes, the order book number we quote to you is an end of June number. Oh. It doesn't have Artura in it. The order book that we have now in September does have Artura in it. Okay. Have you provided that figure while I've got you on the phone? No, I haven't. The Artura is in the mix. As I say, everything indicates now that it'll go to market mid-November time. We'll see it in the mix of cars through November and through December. Okay. Understood. Thank you. Our next question comes from Aditya Aney from Algebris. Please go ahead. Aditya Aney, your line is now open. Please go ahead. Okay, we will move to our next question, which is from Abbie MacKay from ICG Advisors. Abbie, please go ahead. Hi, thanks for taking my question. Just two from me. Firstly, when I look at the quarter-on-quarter development, I see a softening of the ASP and EBITDA margin at the automotive division in comparison to Q1. Can you comment on the drivers of this? I suspect mix is a factor. Some more color would be great. The guidance for the full year EBITDA. Firstly, given it's time of the deal, is this unchanged? Secondly, does this include the gain recognized in this quarter? That's it from me. Thank you. I'll do the first bit, Kate, and you help me with the second bit. Yeah. Yes, the margin movement you see really does follow our model mix. It depends on the mix of product in a particular quarter. As you go through our range, our lowest margin car is the GT, which is our entry price product, strengthens through with the 720S. The 765LT Coupe had a significantly better margin than the 720S. The Elva, albeit it's in very low volume, does contribute a very strong margin per unit. We don't split out all the exact detail of how many of each individual model in every quarter, but it's very mix dependent. As we look at that contribution through the full year, it is just a buildup of that volume times margin on individual units. I think we can answer. Great. I think if just quickly if I could follow on that. Sorry, go on. Could you provide the split of specials delivered in Q1 and Q2? By specials, I mean, I assume you mean Elva. Yes. I'm gonna say. Again, I don't think we've got the number in here, Steve, do you know? Q1, Q2 was GBP 19 in Q2 and GBP 30 in Q1. 19 and 30. Yeah. Let's say 40, 45 cars, something like that. Yeah. Okay. If I can just take, I think fair to say on the guidance point, at this point, we're saying that all that guidance that we've given is pretty much unchanged. The only caveat I would add to that is Mike's just talked about the Artura being delayed. I think we're just working through the makeup of, naturally we might be selling some more higher margin products in place of the Artura, which may have a bit of an impact on revenue, but we're just working through that. We would expect guidance not to change materially. I think as Mike's talked about on that margin point, very simply, even if you work with the numbers that you've already got, you can see it. If you look at, for example, December 2020. I think at that point, the percentage of ultimates in our mix, and you work out the gross margin there, and then you look at where we are at June 2021, you can definitely see the mixed impact that Mike's just talked to you about. Great. Thanks. Just to clarify, does the full-year guidance include the gain? Oh, sorry. No, it doesn't. Great. Thank you. That is helpful. I think when we were talking about, I think we had an LTM of just under GBP 100 million. Obviously, that does not include the gain. That's underlying EBITDA. As a reminder, if you would like to ask a question, please press star followed by one on your telephone keypad. If you've joined us online, please press the flag icon. I'll just add actually at this point. Sorry, we've been answering questions. I haven't forgotten about you, Tom. I think the key point here, I'm just talking off the top of my head, but the key pieces are obviously going to be as at June, I think we had GBP 40 million of cash, which moved to GBP 142 million in August. The undrawn piece of the RCF was GBP 39 million in June, which goes to GBP 55 million in August. The GBP 102 million there cash piece obviously all relates to all the various bits of the financing. As I say, I can happily, after this, I'll just break down for you all the moving parts with obviously the cash in from our preferential issue, repaying of the loan, and then of course issuing the new notes, the RCF. There were transaction costs, OID. I'll probably list out all the ins and outs to get you to that GBP 102 million, but I just haven't managed to do that while I've been talking. Thank you. Well, we confirm we have no further questions, so I will hand it back to the speaker Team. Well, thank you very much for joining the call today. If you have any follow-ups, you know where we are. Yeah. Sorry, Rob, I didn't give you the first half. I'm just flicking through my dataset. End of May, it was GBP 900. I think it was about GBP 1,200 end of June last year. I hope that's close enough. Kate, thank you for that. Thank you everybody for dialing in. Yeah, we'll look forward to talking to you when we do our Q3 call. Thank you very much.