Franco-Nevada Corporation

Good morning and welcome to Franco Nevada Corporation's second quarter 2026 results conference call and webcast. This call is being recorded on August 12th, 2026. At this time, all lines and listeners are now remote. Following the presentation, we will conduct a Q&A 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 anytime when you call by typing your question in the Q&A section of the webcast platform. If you require immediate assistance during this call, please press R0 anytime for the operator. I would like to turn the conference over to your hosts, Bonavie Tek, VP Finance, and Investor Relations. Please go ahead.

Thank you, Anis. Good morning, everyone. Thank you for joining us today to discuss Franco Nevada's second quarter 2026 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 Sandip Rana, Chief Financial Officer, who will provide a brief review of our results. This will be followed by a Q&A period. Our 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 notes on slide two of this presentation. I will now turn over the call to Paul Brink, President and CEO of Franklin Viaduct.

Thank you, Bonavie, and good morning. With a strong second quarter, with CEOs sold up 18% year-over-year due to higher production at Antipokai, Antamina, and South Arturo, New contributions from the recently acquired Cote Gold and Casabarati interests and start production at Valentine Gold. In addition to record gold prices in the quarter, we saw strong world prices. With the higher energy contribution and the processing of stockpiles at Cote Panama, we're tracking towards the upper half of our annual guidance range for 2026. At Covey Panama, the environmental audit was completed, indicating no major findings and an overall compliance rate by the operation of 87.7%. The government then established a commission of senior ministers to evaluate both the environmental aspects and the economic contribution of a potential mine restart. Simply put, in our business, you want to grow through acquisition in the bear market and organically in the bull market. In particular, Without the wealthy portfolio, that organic growth can be very powerful. Q2 is the spring quarter, and we saw green shoots across the portfolio. We received good news on future mine expansions at all of Cote, Detour, Mugino, Valentine, Contestapa, Casaronas, and Seguela. At Candelaria, we had news of a potential pushback. And at Porcupine, we had the kid acquisition that may ultimately allow a doubling of output. Guadalupe, Hemlo, Buller Bulling, and Ormac all announced resource expansions. There was positive progress on mine development at Copper World and Stipnite Gold. Crawford Nickel received its federal approval and PSJ Mendocino, previously San Jorge, its Argentinian regay approval. And lastly, success of the drill bit. Great exploration results in the Porcupine Camp, Borden, Hoyle, Alcrete, and others. Midas where Heckler are considering a restart, Stibnite, where they started drilling again after more than a decade, and at Ormac and Buller Bulling where we have new interests. Energy revenue was up on stronger oil prices. While operator capital discipline prevails, there has been a pickup in U.S. oil rig rates, 450 rigs now up from 420 three months ago in the lower 48. Also, reinvestment rates amongst the U.S. producers are moving up. 55% now on average versus 51% earlier in the year, both of which bode well for higher future production rates. The leverage on the NPI at our weight-bearing interest in Canada gave a nice boost to our Canadian energy segment. On the sustainability front, we continue to expand our engagement with and contributions to communities at mine sites, Frank Nevada was recognized as one of Corporate Night's Best 50 Corporate Citizens in Canada for 2026 and achieved an A rating from CDP. We're in the progress of evaluating candidates for our expanded scholarship program and are delighted with a bumper crop of excellent applicants this year. Ian and the business development team have a strong pipeline of opportunities. Unfortunately, our total available capital stands at $4.3 billion, so we're well positioned to add attractive new assets to the portfolio. With that, I'll hand the call over to Sandip.