BCE Inc.

Good morning, ladies and gentlemen. Welcome to the BCE Q3 2025 results conference call. I would now like to turn the meeting over to Chris Summers. Please go ahead, Mr. Summers.

Thank you. Good morning, everyone, and thank you for joining our call. With me here today are Mirko Bibic, BCE's president and CEO, and our CFO, Curtis Millen. You can find all our Q3 disclosure documents on the investor relations page in the BCE website, and this was posted earlier this morning. Now, before we begin, I'd like to draw your attention to our safe harbor statement on slide two, reminding you that today's slide presentation and remarks made during the call will include forward-looking information and, therefore, are subject to risks and uncertainties. Results could differ materially. We disclaim any obligation to update forward-looking statements except as required by law. Please refer to our publicly filed documents for more details on assumptions and risks. Now, with that out of the way, I'll turn the call over to Mirko.

Thank you, Chris, and good morning, everyone. Last month at our Investor Day, we unveiled an ambitious and exciting three-year strategic plan which positions Bell for the future. This includes clear and transparent financial targets to drive long-term shareholder value and a refreshed brand that better reflects the full breadth of our customer segments. We also took the opportunity to introduce our investors to several members of the executive team and conducted deep dives into each of our operating businesses. As we execute against this plan, we're leveraging our proven ability to drive efficiencies in order to generate strong, sustainable free cash flow growth and total shareholder return, and that's supported by a disciplined capital allocation strategy. Earlier this year, I shared our intent to focus on four strategic priorities, all underpinned by our unique and highly differentiated assets in fiber, in wireless, in media, and enterprise. And in Q3, we continue to execute diligently against all four of those strategic priorities, and you can see this in our results. I'll start first with the customer. We have a re-energized focus on customer service, and it's really paying off. Thanks to the investments we've made, we reported a second straight quarter of significant post-pay churn reduction, and this is the direct result of customer service improvements, increased product intensity, and effective real-time retention offers. A few weeks ago, we launched new wireless plan tiers, each offering distinct value propositions. This innovative approach moves beyond traditional data bucket sizes, introducing differentiation based on network speeds and video quality, roaming and long distance features, varying levels of device discounts and content offerings. The response from our customers has been very positive. This construct gives customers more choice and it reduces churn, all while leveraging our owner economics and content. Our premium Bell-branded postpaid wireless loadings are significantly higher than our consolidated reported postpaid net ads, with Bell-branded postpaid year-over-year growth exceeding 100%. This is a clear indicator of strong customer demand and the strength of the Bell brand in the market, and it's completely on strategy. We're also continuing to make meaningful progress on transforming the customer experience with initiatives like the AI-powered virtual assistant that we showcased on October 14th. This, as well as other AI-driven applications, serves as a technological foundation for a next-gen customer experience. I'll move now to delivering the best fiber and wireless networks. As you know, for well over 100 years, Bell has built and operated the best networks in the country. And now we also have one of the best network growth engines in the U.S. with Ziply fiber. This was our first quarter of operating this asset, and its results are reported in our new Bell CTS U.S. segment. We're very pleased that Ziply Fibre's financial results continue to exceed our original investment case. Again, as you saw on October 14, Harold and his team are engaged and excited by the tremendous opportunity ahead. With the formation of the Network Fibre Co-Partnership now complete, Ziply is well positioned to accelerate its fibre build and expand beyond its current four-state footprint. Construction is set to ramp through 2026. Currently, Ziply's fiber network passes 1.4 million homes in the U.S., and we expect to reach approximately 3 million locations by the end of 28. Over time, we intend to leverage the network fiber co-partnership to expand our U.S. fiber footprint to 8 million locations, and we'll do that in a cost-efficient manner. Including our U.S. operations, we added 65,000 net new fiber subscribers this quarter. In Canada, fiber continues to be a key driver of multi-product penetration through mobility and internet and content cross-sell opportunities. We're focused on increasing the number of subscription services per household with content bundling playing a central role in that strategy. In Q3, product intensity was up approximately 7% year over year, fueled by growth in content subscriptions. And as we shared at Investor Day, we plan to increase product intensity in the next three years by approximately 25%. So we're off to a good start. Our fiber advantage will grow with the availability of Wi-Fi 7, and Wi-Fi 7 works best on fiber. And again, it's going to improve the product intensity momentum. Turning to wireless, the environment has stabilized, and we expect this trend to continue. Wireless service revenue and ARPU both declined by less than half a percentage point, while post-paid churn improved by 15 basis points. We also recently announced a partnership with AST Space Mobile to deliver direct-to-cell satellite service. This breakthrough technology will expand our network reach bridging the gap between the terrestrial 4G and 5G networks and Canada's most geographically challenging areas, using powerful and reliable low-band spectrum. An initial launch of our service is scheduled for late 2026. The service will include voice, video, text, and broadband data capabilities using base stations owned and operated by Bell within Canadian borders, and it will be accessible with an ordinary smartphone. The partnership with AST will enhance network reliability, resiliency and security for all those choosing Bell. Turning now to enterprise and leading with AI-powered solutions. We all know that the Canadian economy is changing, our industry is changing and technology is advancing at an unprecedented pace. The AI revolution is in full swing and it has the potential to change how we work, how we live and how we connect. At the same time, global instability is rising and Canada and other countries are reassessing longstanding relationships that in some cases seem far less solid than they once were. Against this backdrop, as we've been sharing, we've reshaped our strategy and we're well positioned for growth in this new environment. In just the past year, we've launched the three game-changing AI-powered solutions businesses, and they're all foundational to our long-term growth strategy. And that's Ateco, Bell Cyber, and Bell AI Fabric. Each of these businesses is expected to deliver significant top-line and bottom-line growth as we execute against our three-year strategic plan. I'm pleased to report that revenue from AI-powered solutions grew 34% year-over-year, Most of that's organic growth, and it's a strong validation of our strategy. Canada is having its AI moment, and it will be distinctly sovereign. According to a recent survey by the Harris Poll commissioned by Bell, 75% of large Canadian businesses consider AI to be a strategic enterprise-wide priority, with 91% of them prioritizing data sovereignty. This is where Bell holds a clear advantage. Bell's AI fabric is precisely engineered to meet these exact needs. Our purpose-built AI data center business and the full-stack AI alliance we've assembled with other Canadian tech leaders continues to have a deep pipeline of interest, and we expect to announce more growth in this space in the coming months. The public and private sectors share a fundamental role in building Canada's sovereign AI ecosystem, and the renewed commitment to AI that we saw this week in Budget 2025 is an important step forward that will support adoption, strengthen the economy, and help Canada compete globally. I'll turn now to the fourth strategic priority, which is building a digital media and content powerhouse. We recently introduced our new streaming bundles for Bell Mobility and Internet customers, and that features Crave, Netflix, and Disney Plus together all in one bundle. Our commitment to sports content also remains strong. We announced long-term broadcast and streaming rights extensions for regional coverage of both the Montreal Canadiens and the Winnipeg Jets, and that reinforces our leadership in Canadian sports media. We're also continuing to ramp our digital media capabilities. Our long-term partnership with iHeartMedia was expanded this quarter to include Canadian representation of iHeartRadio's extensive podcast portfolio, significantly enhancing our digital audio offering. Additionally, we entered into a strategic ad distribution partnership with Tubi, one of the largest and fastest growing free streaming platforms in Canada. All in, these initiatives will create new opportunities for digital advertisers to reach Canadian audiences across Bell Media's audio and video platforms. So in short, we're executing with discipline and we have momentum across all four of our strategic priorities. This focus path will continue, positioning us to deliver long-term, sustainable free cash flow growth and enhance shareholder value. As shown at our investor day, we have a highly coordinated and energized company that's fully aligned and ready to continue to execute. With that, I'll now turn it over to you, Curtis, for a review of our Q3 financial results.