Brighthouse Financial, Inc.

Good morning and welcome to Franco Nevada Corporation's first quarter 2025 results conference call and webcast. This call is being recorded on May 9, 2025. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session, where you may ask a question through the phone line or webcast. If you are joining by webcast, You may submit a written question for the Q&A session at any time during this call by typing your question in a Q&A section of the webcast platform. If you require immediate assistance during this call, please press star zero at any time for the operator. I would now like to turn the conference call over to your host, Candida Hayden, Senior Analyst, Investor Relations. Please go ahead.

Thank you, Jenny. Good morning, everyone. Thank you for joining us today to discuss Franco Nevada's first quarter 2025 results. Accompanying this call is a presentation, which is available on our website at franco-nevada.com, where you will also find our full financial results. The presentation is also available to view on the webcast. During our call this morning, Paul Brink, President and CEO of Franco Nevada, will provide introductory remarks, followed by Sandy Brana, Chief Financial Officer, who will provide a brief review of our results. This will be followed by a Q&A period. Our full executive team is available to answer any questions. Participants may submit questions by telephone or via the webcast. We would like to remind participants that some of today's commentary may contain forward-looking information, and we refer you to our detailed cautionary note on slide two of this presentation. I will now turn over the call to Paul Brink, President and CEO of Franco Nevada.

Thank you, Candida, and good morning, everyone. Today we're reporting our best financial results ever. We achieved record quarterly top and bottom line results, and that without any contributions from Cobre Panama. The results benefited from elevated gold prices, a good contribution from Hemlo NPI, and strong production from iEnergy. We're looking forward to added contributions through the year, in particular, from the ongoing ramp up of Tocantinsinho and Greenstone, and the startup of Valentine Gold, as well as contributions from the new Porcupine Royalty. On the topic of Cobre Panama, President Malino of Panama continues to indicate a willingness to hold discussions about the mine this year, and we're encouraged by his recent statements in this regard. It was an active quarter for our community support program, and we funded contributions for a waste management initiative at Cascabel Sogo, the reopening of the Museum of Northern History in Kirkland Lake with Agnico Eagle and Alamos, and a contribution to the Sioux Saint, the Sioux Area Hospital Foundation with Alamos. During the quarter, we closed the previously announced $500 million acquisition of a stream on Savania Stillwaters, Western Limb Mining Operations, and we received the initial payment, which relates to operations in the last four months of last year. We ended the quarter debt-free and with $2.1 billion in available capital. And post-quarter end, we closed the acquisition of a 4.25% NSR royalty for $300 million with Discovery Silver on the Poker Fine Complex. You'll recall as part of that financing package, we also provided a $100 million loan facility, and we had a roughly, we provided a roughly $70 million Canadian lead order in their equity issues. Needless to say, we're delighted with the roughly triple in value of the shares from our purchase price. We remain well capitalized to add further growth, and our business development team have a number of actual opportunities that could add further attractive assets this year. With that, I'll hand the call to Sandy.