Welcome to the Penske Automotive Group Annual Meeting of Stockholders. At this time, I will turn the meeting over to Anthony Pordon from Penske Automotive Group. Thank you. Good morning, ladies and gentlemen. Welcome to the Penske Automotive Group Annual Meeting of Stockholders. I am Anthony Pordon, the company's Executive Vice President of Investor Relations and Corporate Development. Today's call is being recorded for record-keeping purposes and will be available for replay purposes later today. During today's virtual meeting, the company may make forward-looking statements about future events, including our operations, earnings, and potential outlook. Our actual results may vary because of risks and uncertainties, which may cause the actual results to differ materially from expectations. I direct you to our SEC filings, including our Form 2025 10-K and our Form 10-Q for the three months ended March 31st, 2026 for additional discussion and factors that could cause results to differ materially. At this time, the polls are now open if anyone would like to cast a ballot. If you have a question, we encourage you to submit it electronically at this time. I will now turn the call over to Roger Penske. Good morning. Thank you, Tony. Welcome to the 2026 Penske Automotive Group Annual Meeting of Shareholders. I'm Roger Penske, Chairman of Penske Automotive Group. I will now call the 2026 Annual Meeting of Stockholders to order. I'd like to welcome the Penske Automotive Group Board of Directors and the PAG officers to our annual meeting. We're also joined today by representatives from our principal auditing firm, Deloitte & Touche. Thank you all for attending. We'll begin this morning with a brief overview of our business, followed by highlights from last year. Today, Penske Automotive Group is a $32 billion diversified international transportation service company with over 28,800 employees. We operate across four continents and eight countries. We have 368 retail automotive locations and 15 used vehicle locations, 45 retail commercial truck locations, 21 commercial vehicles, power systems, and parts distribution locations. When I look back to 2025, PAG delivered 485,000 new and used vehicles and nearly 19,000 commercial trucks. We generated nearly $32 billion in revenue and $1 billion in cash flow from operations. We completed acquisitions representing approximately $1.6 billion in expected annualized revenue. We generated $1.26 billion in earnings before taxes and $937 million in net income and earnings per share to $14.13. Through our balanced and flexible capital allocation approach, PAG returned $395 million to our shareholders through dividends and share repurchase. Also, we published an updated sustainability and performance report. At this time, I recognize Shane Spradlin, our General Counsel and Corporate Secretary, for the determination of a quorum. Thank you, Roger. Good morning. The holders of record of our common stock on March 20th, 2026 are entitled to vote at this meeting. Each share of stock is entitled to one vote, and there were approximately 66 million shares outstanding on the record date. Approximately 97% of our outstanding stock is represented here today, either personally or by proxy, and therefore a quorum is present for the transaction of business. Roger? Thank you, Shane. The board of directors has appointed Shane to serve as the Inspector of Election, and he will certify the results of today's vote. I would now like to return to today's agenda. We have three proposals for consideration. First, the election of our directors. Second, ratification of our independent auditors. Third, an advisory vote on the named executive officer compensation. Shane will introduce the first proposal. Thank you, Roger. Upon the recommendation of our Nominating and Corporate Governance Committee, our board of directors has nominated 12 individuals for election to serve for a one-year term expiring at next year's annual meeting. I hereby put this matter into nomination. Roger will now introduce each nominee. Thank you, Shane. The nominees are Lisa Davis, former CEO and managing board member, Siemens AG. Wolfgang Dürheimer, retired Chairman and CEO of Bentley Motors Limited. Michael Eisenson, founding partner, Charlesbank Capital Partners, LLC. David Hoogendoorn, former senior partner, Ernst & Young. Yosuke Kawakami, Executive Vice President, Strategic Relationship Management, Penske Automotive Group. Robert Kurnick Jr., President, Penske Automotive Group. Greg Penske, Vice Chairman, Penske Automotive Group. Roger Penske, Chairman and CEO, Penske Automotive Group. Sandra Pierce, Corporate Board Executive, CEO Advisor, and Community Strategist. Ray Scott, President and CEO of Lear Corporation. Greg Smith, Principal, Greg C. Smith LLC, and former Vice Chairman of the Ford Motor Company. Brian Thompson, Chairman and CEO of Universal Telecommunications, Inc., and our Lead Director. Each of these director nominees has been formally presented. Shane will now introduce our next proposal. Thank you, Roger. Our second proposal on today's agenda is the ratification of our independent auditing firm. Our audit committee has selected Deloitte & Touche to serve as our principal independent auditing firm for 2026, and we have determined to submit the selection of Deloitte & Touche for stockholder ratification today. I hereby put this matter into nomination. Roger? Thank you, Shane. Our third proposal will be introduced by Bud Denker, Executive Vice President of Human Resources. Thank you, Roger. The board of directors has approved the compensation of our executive officers. Today, we are seeking a non-binding advisory vote to provide shareholders with an opportunity to express their views on our executive compensation. We believe our executive compensation program is designed to attract and retain the highest quality executive and key employee talent available, and is aligned with increasing the value of our common stock and promoting key strategies, values, and long-term financial and operational objectives. I hereby put this matter to nomination. Roger? Thank you, Bud. At this time, all three proposals have been formally presented. The polls will be closing soon. Please cast your ballots if you've not already done so. At this time, we will pause to check the queue for any questions. Roger, we do have one question from a shareholder. The question is, are you seeing any impact on sales based on the recently higher gas prices? Good morning. Thank you for the question. This is Rich Shearing, Chief Operating Officer for North American Operations. The short answer is no, we have not seen a material impact on sales from the gas prices. If you look at our Q1 new car sales, they were down 10% year-over-year. Just as a reminder, last year we had the Liberation Day tariffs announced in March that created a pull ahead, then we had two significant weather events in the first quarter this year. Both of those were more materially impacted our new car sales than the gas prices. We did think that the gas prices may drive some near-term demand in our battery electric vehicle offering, but that it didn't materialize, which I think continues to demonstrate the consumer's concern for range and public charging infrastructure as measures that trump any rise in gas prices near term. We have no further questions. Thank you, Tony. Since all shareholders have had an opportunity to vote on each proposal, I hereby declare the polls closed. Before announcing the election results, I'd like to review the company's first quarter of 2026 performance. During the first quarter, we delivered 123,000 new and used vehicles and over 3,500 new and used commercial trucks. Our revenue was $7.9 billion. New and used vehicle gross profit per unit increased sequentially from the fourth quarter and remains strong. We generated $324 million in earnings before taxes and $234 million in net income and earnings per share of $3.56. We also repurchased 170,000 shares of common stock and increased our dividend by $0.02 to $1.40 per share, which yields approximately 3.4%. Lastly, PAG acquired two Lexus dealerships in Central Florida, strengthening our brand mix offering in a desirable growth market such as Orlando. At this point, I'll have Shane, will give you the election report. Thank you, Roger. The votes have been counted. On proposal one to elect 12 directors, I'm pleased to report that each nominee has received in excess of 91% of the total votes cast, and each has been elected for a one-year term. On proposal two, ratification of Deloitte & Touche, over 96% of our stockholders voted in favor. With respect to proposal three, an advisory vote on executive compensation, over 93% of our stockholders voted for approval. Therefore, all measures have been passed. Thank you, Shane. There are no further business to come before the meeting, thank you for your participation and continued support. The meeting is adjourned. I'll now turn the call back over to the operator. This concludes today's meeting. Thank you for attending. You may now disconnect and have a wonderful rest of your day.