Altius Renewable Royalties Corp.

Ladies and gentlemen, this is the operator. Today's conference is scheduled to begin momentarily. Until that time, your lines will be placed on hold until the conference begins. Again, ladies and gentlemen, this is the operator. Today's conference is scheduled to begin momentarily. Until that time, your lines will be placed on hold until the conference begins. Thank you. Thank you. Good day and thank you for standing by. Welcome to the ARR Quarter 3 2021 Financial Results Conference Call and Webcast Conference. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question and answer session. To ask the question during the session, you will need to press star 1 on your telephone keypad. If you require any further assistance, please press star zero. I would now like to hand the conference over to your speaker today, Ms. Flora Woods. Please go ahead.

Thank you, Francie. And thank you to everyone who's joined us for our Q3 results call. We have a short slide presentation, which is on our website and showing on the webcast. The main purpose of this call is to provide a quarterly forum where we'll have Brian, Ben, and Frank available for questions. And for those of you on the webcast, I'll point out that questions can only be asked on the conference call. With me today are Brian Dalton, CEO of ARR, Ben Lewis, CFO of ARR, and Frank Gettman, CEO of Great Bay Renewables. Brian's going to speak first, and we'll then hand over to Frank. and you can address questions in the Q&A to any of us. We're using forward-looking statements and have a disclaimer on slide two that'll apply to both the comments we make and any discussion during the Q&A. And with that, I'll hand over to Brian.

Thank you, Flora. Thank you, everyone, for joining us. Very happy today to update everybody on a very noteworthy quarter. The business continued to execute on the key objectives that it set out at the time of its IPO earlier in the year, and I feel like we're actually tracking well ahead of those targets following this past strong order. New royalties created year-to-date through developer pipeline financing investments included seven projects with a total expected capacity of 1,800 megawatts. This includes an additional 300 megawatt sale, subsequent to quarter end, for which further details will be provided. at a later point. We are also expecting the first of our project royalties created under the developer funding initiative to reach operating status by the end of the year when the 195 megawatt Jayhawk wind project in Kansas commissions. During Q3, we made announcements describing a total of US $108 million in JV level new capital deployment with an apex follow on funding tranche and then two investments covering four projects that are already operational. These investments, representing 465 megawatts of wind and solar capacity, have proven that our royalty financing is not only attractive to development stage projects, but now to the full spectrum of the industry's growing capital requirements. We believe that this has major implications for the size of the addressable market that ARR can participate in as it continues to seek to scale up its portfolio. Frank will have more to add on this in a moment. The strong level of deployment in Q3 has allowed Apollo to complete its earning requirements and become an equal partner in the GBR joint venture. All new investments made from here are therefore expected to be funded equally by the partners. To close, I'd be remiss if I didn't give a big shout out to the GBR team in New Hampshire for their hard work, innovative thinking, and amazing execution thus far. Thank you, team. With that, I'll turn it over to Frank for some high-level remarks before we open the floor to your questions.