American Healthcare REIT, Inc.

Hello, everyone. Thank you for joining us and welcome to the American Healthcare REIT Q1 2026 earnings conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Alan Peterson, Vice President of Investor Relations and Finance. Alan, please go ahead.

Good morning. Thank you for joining us for American Healthcare REIT's first quarter 2026 earnings conference call. With me today are Jeff Hansen, Chairman and Interim CEO and President, Gabe Wilhite, Chief Operating Officer, Stephon Oh, Chief Investment Officer, and Brian Pei, Chief Financial Officer. On today's call, Jeff, Gabe, Stephon, and Brian will provide high-level commentary discussing our operational results, financial position, our increased 2026 guidance, and other recent news relating to American Healthcare REIT. Following these remarks, we will conduct a question and answer session. Please be advised that this call will include forward looking statements. All statements made during this call, other than statements of historical fact, are forward looking statements that are subject to numerous risk and uncertainties that could cause actual results to differ materially from those projected in these statements. Therefore, you should exercise caution in interpreting and relying on them. I refer you to our SEC filings for a more detailed discussion of the risk that could impact our future operating results, financial condition, and prospects. All forward-looking statements speak only as of today, May 8, 2026, or such other dates as may otherwise be specified. We assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. During the call, we will discuss certain non-GAAP financial measures, which we believe can be useful in evaluating the company's operating performance. These measures should not be considered in isolation or as a substitute for our financial results prepared in accordance with GAAP. Reconciliations of non-GAAP financial measures discussed on this call to the most directly comparable measures calculated in accordance with GAAP are included in our earnings release, supplemental information package, and our filings with the SEC. You can find these documents as well as an audio webcast replay of this conference call on the investor relations section of our website at www.americanhealthcareread.com. With that, I'll turn the call over to our Chairman, Interim CEO, and President, Jeff Hansen.

Thanks, Alan, and good morning, everyone. Before the team gets into the quarter, I want to provide a brief update on Dan Proskey, our CEO and President. As you know, he experienced a health event in February and he continues to recover at home. We're very pleased, by the way, to share that he underwent the only important medical procedure that was actually part of his treatment and recovery plan. That happened a couple of weeks ago. It went exceedingly well, and he's in good spirits and making strong progress at home. I'd also note that during the entirety of the interim period, he's remained fully engaged in each of our board meetings virtually, and he and I speak regularly each week on the business front. Although we don't have a definitive timeline for his reentry, given the recent procedure, we do expect to have that clarity soon and look forward to sharing the details with you in the near term. In the meantime, AHR is advancing with full momentum, and I want to be clear about what that looks like from where I sit. As most of you already know, I served as chairman and CEO of our predecessor companies, so stepping into this seat was not a transition into unfamiliar territory. To the contrary, it was a return to a business, a strategy, and a team that I know intimately and have significant track record with. Gabe, Stefan, Brian, and the broader leadership team are executing at a high level, and my role has been to lead alongside them day to day and full time since Danny's event, making sure that we continue to operate with the discipline and ambition that you expect of AHR. The results you'll hear this morning reflect that fact. Q1 was another exceptionally strong quarter across core metrics, double-digit same-store NOI growth for the ninth consecutive quarter, efficient capital formation and accretive deployment, and even further strengthened balance sheet and raised full-year guidance. Rather than isolated data points, these represent the output of a strategy that we've forged together over time and a team that's executing consistently. What gives me the greatest confidence, though, is what lies beneath these numbers. AHR exists to deliver higher quality care and superior resident and patient outcomes while also striving to be the most sought after and trusted capital partner for some of the best operators in the space. This mission, by the way, isn't a slogan. It's the operating logic that AHR fully embraces and that our people live each and every day through our strategic operating partnerships. When we get our operator relationships right, underwrite with discipline, and structure capital to support long-term performance rather than short-term optics, financial results naturally follow. Q1 is another quarter of evidence that this approach is not only effective, but that it's effective at scale. With that, I'll turn it over to Gabe and the rest of the team to walk through our operating performance. Gabe?