Ero Copper Corp.

Thank you for standing by. This is the conference operator. Welcome to the AeroCopper First Quarter 2026 Operating and Financial Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. If you do need assistance during the conference call, you may reach an operator by pressing star then zero. I would now like to turn the conference over to Farooq Ahmed. repeat investor relations. Please go ahead.

Thank you, operator. Good morning, and welcome to AeroCopper's first quarter earnings call. Our operating and financial results were released yesterday afternoon and are available on our website, along with our financial statements and MD&A for the three months ended March 31st, 2026. A corresponding earnings presentation can be downloaded directly from the webcast and is also available in the presentation section of our website. Joining me on the call today are Marco DiFilippo, President and Chief Executive Officer, Wayne Dreyer, Executive Vice President and Chief Financial Officer, Jelson Batista, Executive Vice President and Chief Operating Officer, and Courtney Lin, Executive Vice President, External Affairs and Strategy. Before we begin, I'd like to remind everyone that today's discussion will include forward-looking statements, which involve risks and uncertainties that may cause actual results to differ materially. For a detailed discussion of these risks and their potential impact on our business, please refer to our most recent annual information form, available on our website, as well as on CDAR and EDGAR. Unless otherwise noted, all figures discussed today are in U.S. dollars. With that, I'll now turn the call over to Marco DiFilippo.

Thank you, Farouk, and good morning. These days, it is difficult to know exactly what each morning's news will bring, so let me start by saying I appreciate all of you dialing in for this. Before diving into the quarter, I wanted to share three observations on the back of several weeks of travel throughout Brazil, New York, Boston, comparing notes with Wayne from Sesco, and a recent trip to Washington, D.C., all of which have implications for our sector and are highly relevant for Aero. First, we see broad enthusiasm for copper backstopped by tight supply and a serious lack of quality development assets at a time where there is a structural shift occurring across the copper demand landscape. Second, sector-wide cost inflation is not only topical, it is a ground truth reality. While we are better inflated than many of our peers, and I'll come back to that shortly, we're not immune from it. Third, and perhaps most relevant for our business, is that Brazil is getting a lot of attention. The world has woken up to Brazil's deep capital markets, its economic diversity, resource production capacity, and its relative strategic positioning in an increasingly complex world. Capital inflows into Brazil have, unsurprisingly against this backdrop, resulted in a considerable strengthening of the Brazilian real against the US dollar, which has a direct impact on our business. These observations matter because a lot of our work and strategy over the past year has been focused on making sure that Arrow is as well positioned as possible to benefit from these copper market tailwinds, advancing our long-term growth strategy while protecting our bottom line from cost and currency pressures. I see this happening in three ways. First, our operating portfolio prominently features the right mix of commodities at the right time in the sector, and we are developing an extremely high-quality long-term asset in Ferdat. Second, our operations do not rely on sulfuric acid. A considerable portion of our production base is from underground, and we operate in Brazil, where power is majority source from renewables. There are well-established local supply chains, and diesel is subsidized. Third, with Brazil in the global spotlight, initiatives we undertook last year, particularly around foreign exchange rate risk management, are serving to offset cost impacts from the rapid strengthening of the BRL we have seen so far this year. Circling back to Q1, from my perspective, this is the first quarter that shows our portfolio of investments and risk management in action. It shows where those investments are delivering and where there is more progress to come. Before I turn the call to Jelson and Wayne to cover the details on our Q1 performance, I want to offer some perspective on what a difference a year makes. Looking back on the last 12 months, our consolidated copper production is up nearly 40%, and gold sales volumes, when including gold concentrates, are up 77% year-on-year. Quarterly revenue and adjusted EBITDA over the same period are up 110% and 100% respectively. Our focus on debt reduction has resulted in year-on-year decreases in net debt of approximately 70 million, while our leverage ratio has reached targeted levels of one times, down markedly from approximately 2.4 times this time last year. Most importantly, over the past year, we have put considerable focus on transforming safety across our operations. A few weeks ago, while in Brazil, I was with our teams at Tucumã to mark a significant milestone. Four years without a lost time injury representing more than 11 million hours worked from the moment we first broke ground. This milestone is rare in our business. I am cognizant it was earned shift by shift, and it belongs to our entire organization, past and present. Operationally during the quarter, our minds tracked largely to plan. Across our copper operations, Q1 production and cost performance have us well positioned against full year guidance. At Javanchina, Q1 was the trough quarter we expected due to necessary ventilation and cooling investments as we advanced that operation forward. With that work substantially completed by the end of April, we expect to see mining rates and throughput show a step change increase in the second half of the year, supporting full-year gold production and cost guidance. Jelson will speak to this in more detail. As Wayne will discuss, our financial results in Q1 were bolstered by strong copper and gold prices, while our foreign exchange risk management program helped to mitigate some of the external cost pressures we are seeing elsewhere across the sector. With that, and to ensure sufficient time for questions, I will turn the call over to Jelson, who will walk you through our operational performance, our production outlook for the remainder of the year, and an update on key projects.