AlTi Global, Inc.

Good afternoon. At this time, I would like to welcome everyone to ALTI's first quarter 2026 earnings conference call. During the call, your lines will remain in a listen-only mode. After the speaker's remarks, there will be a question and answer session. I would like to advise all parties that this conference call is being recorded and a replay of the webcast is available at ALTI's investment relations website. Now, at this time, I will turn things over to Lily Arteaga, Head of Investing Relations for ALTI. Please go ahead.

Good afternoon and welcome to ALTI Global's first quarter 2026 earnings conference call. On today's call, we will hear prepared remarks from Nancy Curtin, Interim Chief Executive Officer and Global Chief Investment Officer, and Mike Harrington, Chief Financial Officer. Nancy and Mike, along with Kevin Moran, our President and Chief Operating Officer, will be available to answer questions during the Q&A session. Before we begin, I would like to remind everyone that certain statements made during the call may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, comments made during the prepared remarks and in response to questions. Forward-looking statements can be identified by the use of words such as anticipate, believe, continue, estimate, expect, future, intend, may, planned, and will, or similar terms. Because these forward-looking statements involve both known and unknown risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these statements. For discussion of these risks and uncertainties that could cause actual results to differ, please refer to ALTI's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. ALTI assumes no obligation or responsibility to update any forward-looking statements. During this call, some comments may include references to non-GAAP financial measures. Full reconciliations can be found in our earnings presentation and our related SEC filings. With that, I'd like to turn the call over to Nancy Curtin. Nancy?

Thank you, Lily, and good afternoon, everyone. As I reflect on my first six weeks as interim CEO, what stands out most is the strength of our platform and the opportunity ahead. Alty operates at the high end of the wealth management market, serving ultra-high net worth families and institutions whose needs are increasingly global, complex, and long-term in nature. That positioning is differentiated, highly relevant, and well aligned with the needs of clients, navigating these clients that are navigating generational change in a more uncertain market environment. During these first few weeks, my focus has been on working with the leadership team to maintain execution, sharpen priorities, and ensure the organization remains aligned. While we continue to refine how we deliver against our plans, our strategic priorities remain unchanged, driving organic growth, pursuing inorganic opportunities where they are strategic to our goals. Upright is one global firm. building capacity for our people, and importantly, improving profitability in a disciplined and sustainable way. The first quarter of 2026 unfolded against a volatile market backdrop. Geopolitical uncertainty, sharp increases in energy prices, lower equity markets, currency fluctuations, and shifting expectations around interest rates. These factors all contributed to heightened dispersion and pressure on asset values across the industry. In that environment, the resilience of our client base and investment approach is especially important. Our clients are ultra-high net worth families and institutions with long-term investment horizons well-diversified balance sheets, and generally limited near-term liquidity needs, which support our disciplined decision-making through periods of market stress. At the portfolio level, our allocations are designed with diversification and downside awareness in mind and typically exhibit lower beta relative to the broader markets. In addition, our positioning in energy and energy infrastructures and technology, both in the United States and emerging markets, allowed us to outperform more volatile markets. While market movements can affect reported AUM quarter to quarter, as we saw during this past quarter, the underlying client relationships, engagement levels, and long-term strategies remain fundamentally resilient. As we look forward, our job is to continue to strengthen our firm by investing in capacity and growth while streamlining complexities and costs. We are investing thoughtfully in this platform, improving how we operate, removing inefficiencies, creating more capacity for advisors to serve our clients and thus drive organic growth. With that context, let me briefly highlight a few points from our first quarter results. ALTI generates $73 million in total revenue, representing 28% growth compared to the same period last year. Recurring management and advisory fees total $52 million, up 16% year over year, and continue to represent the majority of our revenue base, reflecting the stability and recurring nature of our business model. We also saw meaningful contributions from investment distributions of 21 million. The incentive portion of those distributions was 19 million in Q1 2026 compared to 10 million in Q1 2025. Adjusted EBITDA for the quarter was 15 million, up 21% compared to the prior year quarter, largely driven by the revenue increase. overall revenue in the quarter held up well particularly given as mentioned the heightened geopolitical uncertainty and market volatility our results benefited from the stability of our core revenue streams and we also saw a contribution from the incentive income driven by the strong performance of our external managers that said we are very clear about where improvement is needed Meaningful increasing organic revenue growth is critical and is a primary focus across the organization. We are intent on driving stronger, more consistent momentum as we move forward. We also continue to review inorganic opportunities in our core strategic markets that catalyze further growth and help us scale the business. On the expense side, costs remain too high, and addressing that is a near-term priority. We are laser-focused on reducing and simplifying our cost structure. While the reported numbers do not yet fully reflect the progress through the ongoing strategic review, our underlying expense trajectory is improving. These efforts are aimed at better aligning the business with its core strengths and ensuring our financial results more accurately reflect its long-term earnings power. Finally, with respect to the strategic review process, The committee continues its work. As of today, there's nothing further to report. We will provide updates as appropriate. With that, I'll turn the call over to Mike to walk through the financials in more detail. Mike?