Federal Agricultural Mortgage Corporation

Good day and welcome to the Farmer Mac third quarter 2020 investor conference call. All participants will be in listen-only mode. Should you need assistance, please say no conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Brad Nordholm. Please go ahead.

Good afternoon, everyone. I'm Brad Nordholm, and I'm very pleased to welcome you to the third quarter 2020 investor conference call. We have an exciting report for you today, but before I begin, I'd like to first ask Steve Mullery, our general counsel, to comment on forward-looking statements that management may have today and as well as PharmaMax use of non-GAAP financial measures. Steve?

Thanks, Fred. Some of the statements made on this conference call may be forward-looking statements under the securities laws. We make these statements based on our current expectations and assumptions about future events and business performance. We may not be obligated to update these statements after this call. We caution you that forward-looking statements are subject to risks and uncertainties. Actual results may differ materially from the results expressed or implied by the forward-looking statements. In evaluating PharmaMac, you should consider these risks and uncertainties, as well as those described in our 2019 Annual Report on Form 10-K, filed with the SEC in February, as updated in our quarterly report on Form 10-Q, filed with the SEC today. In analyzing its financial information, PharmaMac sometimes uses measures of financial performance that are not presented in accordance with generally accepted accounting principles in the United States, also known as non-GAAP measures. Disclosures and reconciliations of PharmaMac's non-GAAP measures can be found in the most recent Form 10-Q and earnings release posted on PharmaMac's website, PharmaMac.com, under the financial information portion of the investor section. A recording of this call will be available on our website for two weeks, starting later today.