Bridgemarq Real Estate Services Inc.

Good morning. My name is Sylvie, and I would like to welcome everyone to the Bridgemark Real Estate Services Inc. 2026 Second Quarter Results Conference Call. Note that this call is being recorded. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. For those of you who dialed in to the conference call, if you would like to ask a question, simply press star then number one on your telephone keypad. And if you would like to withdraw your question, please press star then two. For those who joined us via webcast, if you would like to ask a question, simply type it into the Q&A box on your screen. We will answer these questions following the dial-in questions after the presentation, time permitting. I would now like to introduce Ms. Anne-Elise Allegritti, Director of Investor Relations at Bridgemark Real Estate Services Inc. Ms. Allegritti, you may begin your conference.

Thank you, Sylvie. Good morning, everyone, and thank you for being with us on the call today. I am joined in the room by our Chief Executive Officer, Spencer Enright, and our Chief Financial Officer, Wallace Wang. They will begin with a brief overview of our company's second quarter results. Wallace will then discuss our financial results in more detail, and Spencer will conclude by providing some remarks on operational highlights, company updates, and market developments. Following their remarks, Spencer and Wallace will be happy to take your questions. Please note Only analyst questions will be permitted on the dial-in line. All others who wish to submit a question are welcome to do so via the Q&A feature on the webcast. You can find the link to the webcast on the events page of our website. I want to remind everyone that some of the remarks expressed during this call may contain forward-looking statements. You should not place reliance on these forward-looking statements because they involve known and unknown risks and uncertainties that may cause the actual results and performance of the company to differ materially from the anticipated future results expressed or implied by such statements. I encourage everyone to review the cautionary language found in our news release and on all of our regulatory filings. These can be found on our website and on CDAR+. I will now pass the call over to Mr. Spencer Enright to give a brief overview of our second quarter results.

Thank you, Anne-Elise, and good morning, everyone. In the second quarter, Ridgemark continued to strengthen its leadership position in the Canadian real estate industry through strategic investments in technology, innovation, brand leadership, while enhancing the company's financial flexibility to support future growth. Although real estate market conditions remain mixed, we continue to execute our long-term strategy, enhancing the tools and resources available to our network while positioning the business to capitalize on opportunities as the housing market continues to gradually stabilize. Revenue for the second quarter amounted to $97.5 million compared to $108 million generated in the second quarter of 2025. This is reflective of persistent weakness in the Canadian real estate market and a decrease in the number of realtors within our Royal Page network. On July 16, we announced a strategic capital allocation plan to allow us the opportunity to make significant investment in AI and other technology frameworks and growing the business. The new expected annualized dividend rate of $0.05 per restricted voting share, payable on a quarterly basis if and when declared by the Board. The Board is expected to announce its first quarterly dividend under the new framework when we announce our Q3 earnings in November. I want to acknowledge this decision and the feedback we have received from some shareholders. We recognize that the changes to our dividend are significant and impactful. Rest assured this was a decision the Board and management approached with careful consideration. The Canadian residential real estate industry is entering a period of meaningful change driven by consolidation, and Accelerating Technological Innovation. We believe this new framework positions Bridgemark to respond proactively and capitalize on these emerging industry trends. Today's real estate market also presents compelling opportunities to deploy capital strategically, allowing us to invest in initiatives that we believe will generate sustainable long-term value for shareholders. This framework is designed to strengthen our financial position, enhance our flexibility to pursue strategic acquisitions and growth opportunities, and support disciplined capital allocation with the goal of generating long-term shareholder value. With that, I'll turn the call over to Wallace for a closer look at our second quarter financial performance.