Corporacion Inmobiliaria Vesta, S.A.B de C.V. American Depositary Shares, each representing ten (10) Common Shares

Greetings, ladies and gentlemen, welcome to the Vesta third quarter 2024 earnings conference call. At this time, all participants are in listen-only mode. A question and answer session will follow today's prepared remarks, and as a reminder, this call is being recorded. It is now my pleasure to introduce your host for today, Fernanda Bettinger, Vesta's Investor Relations Officer. Please go ahead.

Good morning, everyone, and welcome to our third quarter earnings call. Presenting today with me is Lorenzo Laminique Perot, Chief Executive Officer, and Juan Sotil, our Chief Financial Officer. The earnings release detailing our third quarter 2024 results was released yesterday after market close and is available on the company's website along with our supplemental package. It's important to note that on today's call, management remarks and answers to your questions may contain forward-looking statements. Forward-looking statements address matters that are subject to risk and uncertainties that may cause actual results to differ. For more information on these risk factors, please review our public filings. VESTA assumes no obligation to update any forward-looking statements in the future. Additionally, note that all figures included herein were prepared in accordance with IFRS, which differs in certain significant respects from U.S. GAAP. All information should be read in conjunction with and is qualified in its entirety by reference to our financial statements, including the notes thereto and are stated in U.S. dollars unless otherwise noted. I now turn the call over to Lorenzo Vero.

Thanks, Fernanda. And good morning, everyone. We again deliver strong financial performance with steady operating performance during the third quarter 2024. Total income for the third quarter 2024 was $63.7 million, a 14.4% year-over-year increase. Adjusted NOI margin and adjusted EBITDA margin reached 94.2% and 84.5% respectively for the quarter. And Vesta FFO ended at $40.4 million for the quarter, a 20.3% year-on-year increase. Importantly, we have upwardly revised guidance for the full year 2024, as Juan will discuss in more detail shortly. Vesta is focused on creating value through disciplined, highly strategic investment activities that will continue to deliver long-term growth in cash flow, funds from operations, and which ensures we maintain the industry's strongest balance sheet, as Juan will discuss further. Importantly, our best-in-class properties enable us to be extremely selective in the tenants to which we lease. Third quarter leasing activity reached 1.3 million square feet, 476,000 square feet from new leases, and 787,000 square feet in renewals. We're seeing our markets expand, and I'm pleased to note continued recovery and heightened activity in Mexico City and the Bajio. During the quarter, Vesta closed three new leases in Querétaro with new and existing clients, which are directly aligned with Vesta's exacting criteria. Two European companies and one American in the automotive and mixed automotive and electronics space. Also, most of the companies Vesta is currently in discussions with in our primary regions are European, American, and nation companies in the automotive, electronics, consumer, logistics, and aeronautical industries. We continue benefiting from longer-term client commitments with a contract lease term at approximately 10 years for the majority of new leases, as well as attractive rental rates and an 8% spread for renewals and releasing during the third quarter 2024. During the third quarter, we made a strategic investment in nearly 36 hectares of land bank in Tijuana, Baja California, adjacent to our Vesta Park mega region, which will be comprised of six world-class LEED-certified buildings on one million square feet. As with all Vesta properties, this new acquisition has assured access to energy, water, drainage, and infrastructure. As a related comment, Vesta's high-quality assets designed to Vesta's consistently high standards includes security at our properties, which enables clients to focus operations not on their safety. And this ensures Vesta maintains a solid foothold in this important region. New sharing trends remain robust. An example of this was Foxconn's recent announcement that the company has committed to build the largest plan for NVIDIA's GV200 super chip servers in Mexico, aiming to produce 20,000 units by 2025 to meet global AI demand. Today, Foxconn, which is Vesta's third largest tenant, has its digital twin within one of our facilities in Vesta, Mexico's electronics industry hub, where Foxconn's engineers are defining processes and training robots in this virtual environment, enabling the physical plant to highly efficiently produce the next engine of accelerated computing, which is the NVIDIA Blackwell HGX systems. This underscores Mexico's growing appeal for high-tech manufacturing while decoupling global technology supply chains from China. So, while there were no new construction starts during the third quarter, Vesta's development pipeline remains robust. with 3.4 million square feet under construction and 1.3 million square feet delivered during the third quarter 2024. We are seeing continued strength in the Mexican market and expect to close 2024 with leasing activities similar to that of 2023. We are executing on a strong pipeline with a land bank that's shovel-ready and an eye towards sustained but strategic land-backed growth that ensures clients' access to logistic corridors and energy infrastructure that is critical in today's environment. Our portfolio and strategic footprint cannot be replicated, and our close relationships and deep Mexico presence ensures we will have privileged access to the unique opportunities which continue to surface. We remain focused on consistency and discipline as we pave the road for Vesta's next phase. Let me now turn it over to Juan to review this quarter's financial results.