Boston Pizza Royalties Income Fund

Hello, this is Chorus Call Conference Operator. Thank you for standing by. Welcome to Boston Pizza's second quarter conference call. As a reminder, all participants are in listen-only mode, and the conference is being recorded on August 13, 2026. After the presentation, there will be an opportunity to ask questions. Participants on the call may also pose their questions via email to Boston Pizza's Investor Relations Department at investorrelationsatbostonpizza.com. Should you need assistance during the conference, you may reach an operator by pressing star then zero on your telephone. At this time, I would like to turn the conference over to Michael Harbinson, Chief Financial Officer. Please go ahead.

Good morning and welcome to the call. Today we'll be discussing the 2026 second quarter results for both Boston Pizza Royalties Income Fund, or the fund, and for Boston Pizza International, or BPI. For complete details on our financial results, please see our second quarter materials filed earlier today on CDAR Plus or visit the fund's website at bpincomefund.com. Should you require additional information after the call, you can reach out to our investor relations... at investorrelationsatbostonpizza.com. The fund is a limited-purpose, open-ended trust established under the laws of British Columbia. Its purpose is to acquire, indirectly, certain trademarks and trade names used by BPI and its Boston Pizza restaurants in Canada. BPI pays royalty income and distribution income to the fund based on franchise revenues of royalty pool restaurants. For a complete description of the Fund and its business, please see the Annual Information Form dated February 12, 2026, which was filed on cdarplus.ca. Before I turn the call over to Jordan Holm, President of BPI, I'd like to note that certain information in the following discussion may constitute forward-looking information. For a more complete definition of forward-looking information and the associated risks, please refer to the Fund's Management Discussion and Analysis issued earlier today. forward-looking information is provided as of the date of this call and, except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. And with that, I will now turn the call over to Jordan.

Thank you, Michael, and welcome everyone to Boston Pizza's second quarter investor conference call. Today, I'll discuss our second quarter results and provide a brief outlook. Michael will summarize our key financial highlights. And as usual, we'll leave time for your questions at the end of today's call. Boston Pizza maintained strong same restaurant sales in the second quarter, driven in part by heightened guest engagement during the FIFA World Cup tournament. And these results reflect the continued success of our promotions and ongoing momentum across takeout and delivery. During the quarter, the fund posted record franchise sales from restaurants in the royalty pool of $256.5 million and $494.9 million year to date, representing an increase of 1.9% and 2.5% respectively versus the same periods one year ago. SRS was 2.3% for the second quarter and 2.7% year to date. SRS for the second quarter and year to date was principally driven by continued momentum in the takeout delivery business, promotional initiatives and increased restaurant traffic, associated with the FIFA World Cup. We began the second quarter of 2026 with the launch of a playoff promotion to accompany the hockey and basketball playoff season. This initiative introduced a variety of new menu innovations supported by extensive national advertising centered on our Feast Like a Hockey God campaign, during which guests were encouraged to call upon the hockey gods and gather at Boston Pizza restaurants throughout the playoff season. In June, we also launched several promotional campaigns in alignment with the beginning of the FIFA World Cup aimed at boosting guest engagement and celebrating Team Canada. To continue the momentum and excitement built with the FIFA World Cup, we introduced a new summer feature menu alongside a giveaway offering and a chance to win concert prizes through our ongoing partnership with Live Nation Canada. Turning to restaurant development, no new restaurants opened, two restaurants permanently closed, and 10 restaurants completed restaurant renovations during the second quarter. Year to date, no new restaurants have opened, four restaurants in total have closed and 21 restaurants have been renovated. We have an array of exciting initiatives lined up to maintain our strong sales momentum and guest engagement in the third quarter of 2026, which I'll discuss shortly. But first, I'll hand the call back to Michael for a review of the fund's financial performance. Michael.