Altius Renewable Royalties Corp.

Good morning, ladies and gentlemen, and welcome to the LTS Renewable Royalties Q1 2024 conference call and webcast. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Friday, May 3, 2024. I would now like to turn the conference over to Flora Wood, Investor Relations. Please go ahead, ma'am.

Thank you, Lara. Good morning, everyone, and welcome to our Q1 2024 call. Our press release and filings came out yesterday after the close and are available on our website under Investors and on the homepage. This event is being webcast live, and you'll be able to access or replay the call along with the presentation slides that have been added to our website, again on the homepage and under investors. Brian Dalton, CEO of ARR and Frank Gatman, CEO of Great Bay Renewables are both speakers on the call. And in the Q&A, we also have Ben Lewis, CFO of ARR available for questions. The forward-looking statement on slide two applies to everything we say both in our remarks to start and in the Q&A session. And with that, I will turn over to Brian. Go ahead, Brian.

Thank you, Flora. Good morning, everyone. Thanks again for joining us. Before turning things over to Frank, I will quickly repeat some of my comments from the previous quarterly update. The broader market backdrop for renewables continues to exhibit relatively weak sentiments and capital constraints, particularly with respect to the cost and availability of equities. We note that the TSX Renewables Index is now at one-third of the level it was when ARR went public a little over three years ago. This continues to represent a double-edged sword for us, however, as while it weighs on our own equity cost of capital, it also continues to drive an increase in demand and the number of uses for our royalty financing offering. This underscores the importance of the debt-based financing that was completed at the GBR level last year, which comes at a reasonable cost that we are continuing to find ways to accretively deploy against. The team remains very busy on this objective, which is my segue to turn things over to Frank.