Gold Royalty Corp.

Welcome to the Gold Royalty Corp First Quarter 2026 Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. I would now like to turn the conference over to David Garofalo, Chairman and CEO. Please go ahead.

Thank you, operator. Good morning, ladies and gentlemen, and thank you for participating in today's call to review our first quarter 2026 results. Please note, for those not currently in the webcast, a presentation accompanying this conference call is available on the presentation page of our website. Some of the commentary in today's call will include forward-looking statements, and I would direct everyone to review slide two of the presentation, which includes important cautionary notes. All dollar values mentioned on today's call are expressed in U.S. dollars unless otherwise noted. Speaking alongside me this morning will be our President, John Griffith, Andrew Goebbels, Chief Financial Officer, and Jacqueline Peres-Balowski, Vice President, Capital Markets and Sustainability. The first quarter was another strong quarter for Gold Royalty as we reported another record quarterly revenue in adjusted EBITDA and as we continue to have a positive outlook for our business going forward. Before we dive into the results, I wanted to start with an important announcement. I'm delighted to announce two appointments this morning. John Griffith has been named President in addition to his role as Chief Development Officer. The title is a true reflection of the value that John has brought to Gold Royalty over the company's life. We recently celebrated the five-year anniversary of our listing and the tremendous accomplishments in building Gold Royalty's peer-leading portfolio. And John was absolutely instrumental in making Gold Royalty what we are today. His new role as president reflects a leadership position that John already fills in the company and will continue to fill going forward. We have also transitioned the responsibility for sustainability from Catherine R. Blaster, our outgoing Vice President of Sustainability, to Jackie Przybylowski, who will be Vice President of Capital Markets and Sustainability effective July 1st. We want to thank Catherine for her invaluable contributions to Gold Royalty. She has been with Gold Royalty in a part-time capacity since 2022, which is a great example of the overhead savings that we realize with our shared services model. Catherine will continue to work with Uranium Energy Corp and Uranium Royalty Corp moving forward. And Jackie will manage sustainability at Gold Royalty, adding no additional personnel to our team as a result of this transition. I now pass the call over to our president, John Griffith.

Thanks, Dave. The past five plus years at Gold Royalty, has been both personally and professionally rewarding as we've grown the company from 18 royalties and zero revenue in 2021 to over 250 royalties and meaningful revenues and cash flows today. The depth, breadth and quality of the portfolio that we've assembled exceeds my expectations. And I'm so proud of the work that our team has done to get to this point. But our story is really just beginning. After celebrating our five year anniversary in the first quarter, we're incredibly encouraged by our growth outlook for the next five years as well. The guidance that we provided on March 18 shows that gold royalty expects production to grow to 28 to 34,000 geos by 2030. At the midpoint, this represents nearly 500% growth compared against our 2025 actual results of 5,173 GOs. This growth is all from royalties and streams already fully bought and paid for in our portfolio. And I would emphasize that if we did nothing at all, if we only sat on our hands for the next five years, we still would have peer-leading growth. Of course, we're not planning to sit on our hands for the next five years. Our team continues to investigate acquisition opportunities each and every day. In your current environment with strong gold prices, we're seeing less emphasis on balance sheet repair. Most of the opportunities we're seeing now are sales of existing third-party royalties where sellers could potentially be looking to take advantage of high commodity price environment that I mentioned earlier. We're committed to accretive transactions, and we will stay disciplined to ensure we're not overpaying for the sake of growth. We continue to look for double digit returns using conservative commodity price assumptions, and we continue to favor precious metals in low risk jurisdictions. With that in mind, I look forward to continuing to build upon the great platform we've built in our first five years. I'll now pass the call to our CFO, Andrew Goebbels, to discuss the details of our first quarter results and our outlook on slide five.