Sprott Inc.

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Sprott Inc's 2022 Third Quarter Results Conference Call. At this time, all participants are on a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. As a reminder, this conference is being recorded today, November 4, 2022. On behalf of the speakers that follow, listeners of today's presentation and the responses to questions may contain forward-looking statements within the meaning of the safe harbor provisions of the Canadian Provincial Securities Law. Forward-looking statements involve risk and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are implied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. For additional information about factors that may cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements, please consult the MD&A for the quarter and SPROT's other filings with the Canadian and U.S. securities regulators. I'll now turn the conference over to Mr. Whitney George. Please go ahead, Mr. George.

Thank you. Good morning, everyone, and thank you for joining us today. On the call with me today is our CFO, Kevin Hibbert, and John Chimpaglia, the CEO of Sprott Asset Management. Our 2022 third quarter results were released this morning and are available on our website, where you can also find the financial statements and MD&A. I'll start with slide four. We delivered solid results in the third quarter during a very volatile period in the markets. We recorded our 13th consecutive quarter of positive net sales driven by strong contributions from private strategies and our physical trust. We expanded our ETF product suite with the launch of Sprott ESG Gold ETF, and we listed Sprott Uranium Mining USITS ETF in multiple European markets. We're developing new products and capabilities in the energy transition space where we're using our expertise and talent in understanding mining to apply to a much larger and bigger opportunity than our core precious metals franchise. With that, I'll turn it over to Kevin for a look at our financial results for the quarter.

Thanks, Whitney, and good morning, everyone. I'll start on slide five, which provides a summary of our historical AUM. AUM was $21 billion as at September 30th of this year, down $901 million or 4% from June 30th, but up $601 million or 3% from December 31st, 2021. Our quarter over quarter AUM was negatively impacted by market value depreciation across our fund products, but on a nine month ended year over year basis, our cumulative market value declines were more than offset by strong inflows to our physical trusts, in particular our uranium and gold trusts, the onboarding of new commitment fee generating private strategy LPs, and $1 billion of AUM onboarding from the URNM acquisition. Slide six provides a brief look into our three and nine months earnings. Adjusted base EBITDA was $16.8 million, up $124,000, or 1% from this time last year. And on a year-to-date basis, adjusted base EBITDA was $52.9 million, up $6.6 million, or 14% over the same nine-month period last year. Adjusted base EBITDA benefited from strong net inflows into our physical trust primarily our physical uranium and gold trusts, as I mentioned earlier, as well as the URNM acquisition and inflows to our private strategy LPs. These increases were only partially offset by weaker mining equity origination activity in our brokerage segment and lower average AUM in our managed equity segment. Moving on now to slide seven. Despite the ongoing challenges encountered across most global markets, and asset classes, our balance sheet, cash flow, and liquidity metrics remain strong at the nine months ended mark of the year, and we expect to see this strength continue throughout the remainder of 2022. For more information on our revenues, expenses, EBITDA, and balance sheet metrics, you can refer to the supplemental information section of this presentation, as well as our third quarter MD&A filed earlier this morning. With that said, I'll turn things over to John.