U.S. Global Investors, Inc.

CEO and Chief Investment Officer, Lisa Calicott, Chief Financial Officer, and myself, Holly Schoenfeld, Director of Marketing. On slide number three, during this webcast, we may make forward-looking statements about our relative business outlook. Any forward-looking statements and all other statements made during this webcast that don't pertain to historical facts are subject to risks and uncertainties that may materially affect actual results. Please refer to our press release and corresponding form 10Q filing for more detail on factors that could cause actual results to differ materially from any described today in forward-looking statements. Any such statements are made as of today and U.S. Global Investors accepts no obligation to update them in the future. On slide number four, this is another slide we like to highlight that kind of goes along with our disclosure or our safe harbor slide. I'll speak about it briefly. And if Frankie want to jump in, please feel free. But this is what we call the DNA of volatility graphic. What it does is allows investors to manage their expectations of various asset classes. So if you see what it's showing is the standard deviation Over a year for various industries from large caps to gold. Airlines, and then, of course, the growth stock and so what's most important is to realize that over a 1 day and a 10 day period. It's essentially a non event for our growth stock to go up or down 2% and then subsequently up or down 4%. But then if you look at more volatile assets, for example, if you look at the company like high, which deals directly with Bitcoin, that fluctuation has historically seen bigger swings. Frank, I don't know if you want to add any other color on this slide.

No, I think I think it's very helpful and the derivative of this is that we're in the fund business and a lot of our funds are in the gold business. So, as you can see from this visual, our biggest fund is airlines. And so it's a non event for those assets to go up or down. 6% over a 10 day rolling period and gold is plus or minus 6%. We are less than that over a 10 day period. But it's just helpful to put that in context that each asset class has its own unique. DNA of volatility and to manage those expectations as Holly said, it's important to understand them. We update this on a regular basis because government policies over time can change in industry or category and so it's helpful. I further like to point out to investors is that we used to trade when I first bought US Global, moved here off of money market funds, rates were very, very high. And we had big growth in our government, agency fund and it went from basically nothing to a billion dollars in assets. And that was the sort of the correlation, but we were known for gold. And then our gold assets took off and we started to trade as a stock highly correlated around what gold was doing and what the fund flows were in and out of our gold funds. and then it became predominantly off of bitcoin and hive when we made the initial investment in hive in 2017 because we realized they weren't going to allow an etf in the crypto industry and it was only this year this year that it was allowed and uh now this week we've elected a future president who is pro the Bitcoin ecosystem. So I think we were way ahead of our times. But with that, Hive was at one time a unique investment. We were early and we caught that wave and we we're having this tremendous volatility around bitcoin that's not happened today because we have a hive structure no um and and so that is a very different composition of our of our key investments uh and i'm happy to see that all these other etfs um have enjoyed success and grown um but has taken them something like seven years before this event took place. I think that the industry now follows what the airline index is doing, what the flow fund flows are, which is moving around. And I hope during this presentation to give you some color on the airline industry and gold, because gold is making all time highs also. Next, please.

I can take it back briefly on this slide as always to our loyal shareholders that are tuning in. We invite you to email us at info at us funds dot com and we would love to send you 1 of our hat scene here. And we actually have some new gold hats on the way. So, like I said, shoot us a message with your mailing address. We're happy to get you some swag. um on the next slide before i hand this over to frank i will briefly review our company us global investors is an innovative investment manager specializing in smart beta 2.0 thematic products we have vast experience in global markets and specialized sectors and we use a quantum mental strategy to create these smart beta 2.0 funds The company was originally founded as an investment club, becoming a registered investment advisor in 1968. The company has a long-standing history of global investing and launching first-of-their-kind investment products, including the first no-load gold fund. We're well known for our thematic investing in gold and precious metals, natural resources, airlines, and luxury goods. Now, slide number seven, I would like to hand the presentation over to CEO Frank Holmes. Frank.