EZCORP, Inc.

Thank you, and good morning, everyone. During our prepared remarks, we will refer to slides which are available for viewing or download from our website at investors.easycorp.com. Before we begin, I'd like to remind everyone that this conference call, as well as the presentation slides, contain certain forward-looking statements regarding the company's expected operating and financial performance for future periods. These statements are based on the company's current expectations. Actual results for future periods may differ materially from those expressed due to a number of risks or other factors that are discussed in our annual, quarterly, and other reports filed with the Securities and Exchange Commission. As noted in our presentation materials, and unless otherwise identified, results are presented on an adjusted basis to remove the effect of foreign currency fluctuations and other discrete items. Joining us on the call today are EZ Corp's Chief Executive Officer, Lockie Given, and Tim Jugman's Chief Financial Officer. Now I'd like to turn the call over to Lockie.

Thank you, Sean, and good morning, everyone. EZ Corp is off to an exceptional start to fiscal 2026, delivering one of the strongest quarters in our history. We achieved record first quarter revenue in PLO, along with outstanding earnings growth for our shareholders. Our team's disciplined execution and the operating leverage inherent in our platform drove more than 35% growth in both net income and EBITDA. The poor demand environment remains highly favourable. Consumer credit conditions continue to remain challenged, particularly for lower and middle income households, as many traditional lenders continue to tighten underwriting standards. The consumers who need immediate, no-obligation access to cash, Bourne remains a fast, transparent and trusted solution. At the same time, more consumers are seeking affordable, high-quality pre-owned goods driven by value-conscious shopping and a focus on sustainability. Both sides of our business benefit from these trends. Core financial metrics were very strong across the business for the first quarter. We saw continued momentum in PLO and PSC, merchandise sales and margin, and a material increase in scraps. We ended the quarter with net earning assets of $554 million, up 17%, and our PLO to inventory ratio remains healthy at 1.2 times, reflecting discipline lending and inventory management. Subsequent to quarter end, we closed two exciting acquisitions that expand our scale and geographic reach. As we've consistently said, we will deploy capital with discipline when the right opportunities emerge, and these transactions deliver on that commitment. Our focus in the immediate term is to successfully integrate these businesses to maximise profitability and returns, and we remain excited about our active pipeline for additional M&A opportunities going forward. The first of these transactions was closed on January 2nd with the acquisition of Founders One, which owns a majority interest in simple management groups one of the largest porn platforms in North America. SMG operates 105 stores across 12 countries, including Florida and Puerto Rico in the US, Costa Rica, Panama, and various markets across the Caribbean. We first invested in Founders as a preferred equity holder back in October 2021. The transaction is immediately accretive and expands our porn footprint into 11 new countries. creating a compelling platform for future domestic and international expansion. Importantly, SMG meaningfully broadens our total addressable market. In Puerto Rico, the stores also offer auto porn and auto title loans, giving us exposure to a higher ticket secured lending category that complements our traditional porn offering. SMG was one of the few remaining large independent porn chains in the United States, and we're very pleased to welcome the team into our Easy Call family. On January 12th, we acquired our Buffalo Pawn, adding 12 stores in Texas, further strengthening our position in one of our largest domestic markets. This acquisition brings an experienced local team and a strong presence in a rapidly growing market, and we are excited to apply our operating playbook and capital to unlock additional value in this business. Following these two transactions, EasyCorp now operates 1,500 pawn stores across 16 countries, marking a significant milestone that highlights the scale of our growing global platform. Turning to slide three, for those new to the story, the pawn business resonates strongly with customers because the transaction is fundamentally customer-friendly. Our loans are non-recourse, meaning customers have no obligation to repay. We don't credit check, require bank accounts, or verify employment. We don't pursue collections, and we don't report to credit bureaus. These are small, short-term transactions, typically $200 to $220 in the US and $70 to $140 in Latin America, with terms ranging from 30 to 90 days. That core value proposition, together with offering great value for money second-hand goods in an environmentally responsible way, where it's fun to come and shop in a pawn store, have been critical in driving consistent, outstanding operational and financial results for our shareholders. With that, I'll turn it over to Tim to walk through the financial details. Tim?

Thanks, Lockie. Turning to slide five for the consolidated financial results. We delivered another quarter of exceptional earnings performance. Adjusted EBITDA rose 36% to $70.3 million, with margin expanding 260 basis points to 19%. Deluded EPS improved 34% to 55 cents. These results reflect the operating leverage embedded in our model as we scale. Total revenues reached a record $374.5 million, up 17%. Improvement was broad-based with meaningful contributions from PSE, merchandise sales, and a significant increase in scrap, reflecting elevated gold prices. PLO also increased 12% to $307.3 million, marking an all-time Q1. fueled by sustained consumer demand and high average loan sizes across all drug fees. BSC revenue rose 11% to $129.6 million, generally in line with BLO. On the retail side, merchandise sales climbed 10% to $205.2 million, with same-store sales up 7%. Merchandise margin expanded 230 basis points to 37%, reflecting improved pricing, execution, and product mix. Scrap margins also expanded significantly from 23% to 34% as we benefited from higher gold prices. Gross profit of $218.9 million improved 18% supported by contributions across all three revenue streams. G&A rose 9% primarily due to high incentive compensation and professional fees related to the acquisition activity. With top and bottom line growth meaningfully outpacing operating expenses, we're demonstrating the scalability and operating leverage inherent in our platform. Before I turn it to the segments, I'd note a presentation change this quarter. We've modified how we allocate certain administrative expenses. These are now reported within corporate G&A rather than allocated to store expenses at the segment level. Prior periods have been recast to conform. There's no impact to operating expenses or net income, but please see slide 22 in the earnings presentations for reference. Moving to the U.S. segment on slide six and seven, we ended the quarter with 547 stores across 19 states. Total revenues increased $37.6 million, or 16%, to $269.8 million. Roughly half of this improvement is attributed to higher scrap sales, which benefited from elevated gold prices and increased jewelry purchasing activity. PLO expanded 9% to $239.9 million, with same-store PLO up 8%. Average loan size rose 12% to $231, largely due to higher prices on jewelry. Jewelry now represents 68% of US PLO, up 310 basis points. BSC improved 8% to $95.2 million, supported by same-store PLO gains. On the retail side, merchandise sales climbed 8%, with same-store sales up 7%. Merchandise margin improved 170 basis points to 38%. Jewelry scrap gross profit rose $8.6 million, reflecting our ability to efficiently monetize inventory in this gold price environment. Inventory increased 29% to $190.9 million fueled by PLO expansion and higher merchandise purchases, including continued growth of our lightweight product, as well as a decline in turnover from 2.2 times from 2.5 times. This reflects a higher mix of jewelry, which naturally carries a longer sales cycle, as well as continued success of our lightweight product. Laway provides customers a flexible path to ownership and supports healthy sell-through and inventory velocity. In addition, jewellery that doesn't sell through retail can be monetised through scrap, providing a natural floor on inventory risk. Despite lower turns, aged general merchandise remains manageable at 3.1% of total GM inventory, or $1.7 million. We have prioritised efforts to optimise inventory velocity and reduce aged GMs. Segment EBITDA improved 28% to $73.5 million as margins expanded 260 basis points to 27%, supported by robust gross profit performance and effective expense management, with same-store expenses up 6%. Turning to Latin America on slide eight and nine, we ended the quarter with 836 stores across four countries. During the period, we opened seven de novo stores, including five in Guatemala, one in Mexico, and one in Honduras. and acquired 14 stores in Mexico. Total revenues rose $16.7 million on 19% to $104.7 million. Roughly half of this improvement is attributed to merchandise sales reflecting solid retail execution across the region. PLO expanded 23% to $67.4 million with same store gains of 12%. Average loan size improved 16% to $102, 9% on a constant currency basis, largely reflecting higher jewelry prices. Jewelry now represents 47% of Latin American PLO, up 650 basis points. BC rose 18%, supported by the same store PLO gains and contributions from new stores. Merchandise sales climbed 15%, with same stores up 8%. Merchandise margin improved 380 basis points to 34%. Inventory increased 10% to $56.1 million viewed by PLO expansion. Importantly, inventory turnover improved to 3.1 times from three times. Age general merchandise increased to 3.6% of total GM inventory, representing $1.2 million. We are applying best practices to reduce age GM. Stegman Evadar improved 23% to $21.4 million, and margins expanded 70 basis points to 20%, reflecting continued expansion despite a 16% rise in same-store expenses, mainly due to labor costs, including minimum wage increases. From a balance sheet perspective, our robust position of $465.9 million in unrestricted cash will enable us to fund organic expansion, pursue compelling acquisition opportunities, and thoughtfully return capital shelters over time. As Lachie noted, subsequent to quarter end, we completed two acquisitions that meaningfully expand our footprint. On January 2nd, we closed the SMG transaction. The transaction was funded through a conversion of existing preferred equity investments and notes receivable, plus approximately $9 million of cash for a total consideration of approximately $64 million. This results in approximately 75% economic interest in SMG. Following the transaction, we will consolidate 100% of SMG's financial results with net income allocated to non-controlling interests reflected below the net income line. We also provided SMG with an intercompany debt facility to replace its third-party financing. This intercompany debt and associated interest will be eliminated upon consolidation. Also in January, we acquired El Buffalo Porn, adding 12 stores in Texas for $27.5 million. Both transactions represent disciplined deployment of capital to drive longer-term shelves of value. Looking ahead on a consolidated basis, we remain focused on expanding PLO, improved inventory efficiency and scaling operational best practices across all geographies. Based on the current trends, we expect Q2 momentum to remain favourable. Tax refund season typically drives increased loan redemption and retail activity, and the current gold price environment continues to support elevated scrap contributions. With respect to scrap, we're not in the business of predicting gold prices, but we can say gold has continued to rise through the quarter. As long as that continues, we expect elevated scrap gross profit contributions. As you will know in the last quarter, once gold stabilises, we expect approximately two quarters of elevated scrap gross profit margin before margins begin to normalise towards historical levels. On expenses, we remain disciplined. That said, we do expect sequential increase through the year as we onboard our recent acquisitions and continued scaling operational best practices across all drug fees. Our M&A pipeline remains active in the US and Latin America as we approach each opportunity with rigorous financial discipline. With 1,500 stores across 16 countries, we've reached a significant scale milestone and are well positioned to capitalize on further consolidation opportunities. Now I'd like to turn back to Lachie for closing remarks.