Abaxx Technologies Inc.

Good day, and welcome to the ABAC Technologies fourth quarter and year-end 2025 earnings and business update call. All participants will be in a listen-only mode. For sell-side equity analysts on the call with us today, there will be an opportunity to ask live questions following today's management presentation. To ask a question, you may press star, then one on your touch-tone phone. To withdraw your question, please press star, then two. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. Please note that live questions will not be addressed until the Q&A portion of the call begins following prepared remarks. For those on the webcast, you may submit questions throughout the event by typing in the submit a question box on your screen. Questions will be addressed after the formal presentation has ended. Please note this event is being recorded. I would now like to turn the conference over to Tara Hayes, Director of Communications. Please go ahead.

Thanks, Nick. Good morning, good afternoon, and good evening to those joining us from Singapore. Thank you for joining us today for the ABEX Q425 Earnings and Business Update Call. My name is Tara Hayes, Director of Communications at ABEX, and I'll be directing today's presentation. With us on the line are founder and CEO Josh Crum, ABEX Chief Strategy Officer David Greeley, ABEX Exchange Chief Commercial Officer Joe Rea, and ABEX Digital Title Lead Leah Wald. ABEC CFO Steve Frey and Chief Legal Officer Jeff Lipton are also on the line and will be joining us for the Q&A period following today's prepared remarks. Everyone should have access to our 2025 year-end reports and annual information form, which will be the primary disclosures for today's presentations. But we also want to make reference to all filings and risk disclosures found on CDAR+. we have published a short slide presentation to accompany today's webcast, which is being recorded and will be posted to our investor relations website, investors.abex.tech, in the coming days. We'd like to remind everyone that part of our discussion today will include forward-looking statements, which are subject to various assumptions, risks, and uncertainties, and which could cause actual results to differ materially from those expressed or implied on today's call. Please find our full statement and cautions regarding forward-looking statements on the slide attached. Before I hand the call over to Josh to update investors on the company's milestone-driven year across the ABEX network, we'd like to specifically draw your attention to the highly regulated nature of our products and operations. Given the early growth stage of our ramp-up and deep innovation pipeline for listing new products, it's important to reiterate the cautionary nature of our forward-looking statements with respect to products that are still subject to ongoing regulatory work and review. We'll endeavor to point out these cautions as we go, but as of today, our ABAC Singapore entity's regulatory status is that of a recognized market operator exchange and approved clearinghouse in Singapore. We have revenue-generating futures products currently trading in physical delivery LNGs the only product of its kind listed globally, Singapore gold kilobars, two voluntary carbon market carbon futures products, of which our Corsia contract became the first VCM contract to ever go to delivery through FCMs and a regulated clearinghouse in 2025, our battery materials products in lithium carbonate and nickel sulfate, and first-of-their-kind weather derivatives contracts with NWAC's onshore wind futures now listed across six major power markets, including the United States, catalyzing a significant amount of new onboarding from global institutions since launch. Many other potential products discussed today, including new markets planned for additional precious metals, an oil contract we're now working on, base metals, additional weather derivatives, smart commodities, or even some of our innovative technology-enabled products in the pipeline, will be subject to meeting all regulatory requirements and disclosures before listing. As we speak about gold products today, we want to point out that ABEX spot was newly incorporated in Singapore last year, but operating under a different branch of the ABEX corporate family tree, and not part of the entities regulated by MAS under ABEX Singapore, as the monetary authority of Singapore does not regulate spot commodity markets. Following the management presentation, we will open the call up for Q&A to answer investor questions, which you can submit by typing in the submit a question box on your screen at any time. With that, I'd like to hand the call over to Josh for some opening remarks and a walkthrough of how ABEX is solving core structural inefficiencies for global commodities markets through its fully integrated market ecosystem.

Thanks, Tara. Thanks to everyone for joining us today. We will spend some of our time today discussing real-time markets and the speed of technology. In that context, it may seem paradoxical to be presenting historical Q4 results when our business transforms every 90 days. While our 2025 figures represent a successful zero-to-one transition of a company that builds hard things to one that sells things globally, developments over the past month have already made them history. In Q4 2025, we operated at a startup baseline of around 1,500 contracts of average daily volume, which generate our first approximately Canadian $1 million in top-line exchange trading revenue for the year. However, in the final two weeks of March, we executed a decisive step function breakout to 11,500 EV. Logarithmic growth was driven primarily by our flagship LNG and Singapore gold contracts, with volume now picking up in our lithium carbonate and carbon curves, and we expect our unique weather product suite to join them as well during the high commercial demand for joining and trading. To put the scale of that shift in perspective, the volume we transacted just this past month of March effectively eclipsed our entire trading volume for 2025. This philosophy demonstrates the scale of the proprietary infrastructure we have spent six years building. As we expand from our early Singapore-based traders into India, the Middle East, and beyond, with the largest markets of the US, China, and the UK still in progress for ramp-up later in 2026, We are following a clear network effect path to joining the elite group of roughly 10 global futures exchanges of our kind, transacting 1 million contracts a day or more. But stepping back, it is important to contextualize the strategy behind those numbers. As many of you know, when talking about markets, I always like to say that one should never lead an argument with price, but instead focus on the fundamental structure behind the price. And similarly, when looking at the real-time growth of our business, one should never lead an argument with volume. It is important to remember that the volume growth we are seeing today is a direct result of the foundational onboarding work, connectivity, and incentive strategy we completed in 2024. Consequently, I look forward to discussing the revenue impacts of our 2025 developments in four to six quarters from now, as we begin to see the full effect of recent milestones, such as our U.S. TFTCF bot approval and our TMX trade port connectivity and more. Even this week, post the trade report rollout, major global banks and energy trading desks are actively pulling our LNG and gold market data through these new channels and reaching out for connectivity to our markets. I'll also note at the top of the call here that we are continuing to evolve the format of these quarterly calls. We will speak again in just 45 days to discuss a much richer Q1 2026 data set. And because onboarding and connectivity KPIs are best viewed on a six-month, over six-month horizon, today's presentation will focus on the plumbing updates behind the numbers. David Greeley, Joe Rea, and Leah Wald will provide updates on our growth stages, product updates, and the market OS and ID++ digital title technology stack. I will then cover our corporate finance updates before we open the floor to our sell-side analysts for Q&A. But before handing over the call, I think it's an important time in the world to reiterate the deep engineering and problem-solving culture that we built at Avex, our approach to solving global macro challenges while creating long-term shareholder value with a high-grade business model. Our core focus remains the development of the Avex network. This network is the absolute nexus where our exchange and market businesses converge with our software strategy. In a world now moving at the speed of agentic computing, we are developing an operational machine unlike any global competitor, one designed for the rapid rollout of new physical markets to meet challenging supply chains, changing supply chains, and evolving collateral networks. This is the infrastructure and client network where we will deliver our vision for seamlessly global 24-7 markets powered by ID++ and MarketOS. As we present our onboarding and development KPIs, remember the ABEX network is far more than a list of partners and counterparties. It is a preloaded distribution network. Every new member is a future trader of our nth commodity contract, many of which no competitor has yet imagined and no analyst has yet modeled. Furthermore, every member is a future user of our market OS full-stack technology, allowing us to eventually capture revenue through software, data, and services far beyond simple trading fees generated in 2025. Over the year ahead, as we grow our benchmark contracts and release our software products, the broader markets will begin to see what we're building. In our view, an unreplicable strategic moat. This mode is comprised of hard market plumbing. Every new clearing member, trading firm, and data distributor adds a new node. Every new regulatory license and risk management practice becomes embedded. This makes the ABEX network and market OS a technology platform that will be increasingly difficult for any pure software company to replicate or any pure market infrastructure incumbent to MIMIC. We are an engineering sovereign great infrastructure, a high integrity asset capable of supporting the global economy's most essential functions during times of stress. Even today, our team is working with urgency to meet the moment as geopolitical conflict effectively halts 20% of global energy transit in the Middle East. In this world of force majeure and failing paper safe havens, the market is in need of sellers of last resort. We provide physical benchmarks anchored in molecules rather than survey proxies. actual local metals, not just price assessments from far away and uncorrelated markets. We're still in the earliest stage of this build and growth. And to reiterate, our medium-term goal of 1 million contracts per day is not a ceiling, it is a floor of our ambition. We have built the infrastructure, the market is validating utility, and now we scale. And with that, I'd like to hand the call over to David Greeley.