Fiera Capital Corporation

Good morning and welcome to the FIERA Capital Conference Call to discuss financial results for the second quarter of 2026. I will now turn the conference over to Amin Mouss-Avian, Senior Vice President, Head of Treasury and Investor Relations. You may begin your conference.

Thank you and good morning everyone. Welcome to the FIERA Capital Conference Call to discuss our financial and operating results for the second quarter. Copies of our press release, MD&A, and earning presentation are available on FieraCapital.com under Investor Relations. This morning we have with us Maxime Ménard, Global President and Chief Executive Officer, Lucas Pontillo, Executive Director, Global Chief Financial Officer and Head of Corporate Strategy, and Gabriel Castiglio, Executive Director and Global Chief Operating Officer. Following the opening remarks, we'll have a question and answer session. Comments made on today's call, including replies to certain questions, may deal with forward-looking statements which are subject to risk and uncertainties that may cause actual results to differ from expectations. Please refer to the forward-looking statements on page two of the presentation and periodic reports that we have filed with the regulatory authorities. I will now turn the call over to Max.

Good morning, and thank you for joining us today. The second quarter was challenging from a flows perspective as we experienced larger than expected outflows from our sub-advised mandates, along with elevated client rebalancing. However, we remained focused on executing against our strategic priorities. As a result, we saw positive momentum across several areas of the business, including growth in our private markets platform, continued traction within our key distribution channels, and improving investment performance across a number of our flagship strategies. I'll begin with a review of assets under management and flows for the quarter. Total assets under management ended the quarter at $163.5 billion, up approximately 2.1% from the end of the prior quarter, a strong markets appreciation more than offset net outflows. Public markets AUM of $141.2 billion increased 2.4% from the prior quarter as strong market growth was partly upset by net outflows. Excluding some advised mandates, public markets net outflows totaled $2.2 billion in the quarter largely due to client rebalancing across both equity and fixed income strategies. During the quarter, we won new mandates and captured net inflows from financial intermediary relationships established within the last 18 months. Growing exposure to the financial intermediary space continues to support organic growth and a more consistent flow profile. As we announced earlier this week, NICSMART has been appointed Lead Portfolio Manager, Canadian Large Cap Equities. Nick has previously served as a co-lead of our Canadian large cap strategies and has been involved with a flagship strategy since inception, providing continuity of investment knowledge, fundamental research, and portfolio oversight. Nick and his team will be supported by the broader Canadian equity team, FIERA's institutional investment platform, and the governance of our global investment office, which oversees performance, investment risk, and Resourcing. These changes came on the heels of the action we took, which we believe necessary to protect our clients, employees, the firm, and the integrity of our investment platform. Our standards of professional conduct apply to everyone at Fiera Capital, regardless of seniority or commercial importance. Now, looking at the sub-advisory AUM, outflows were $5.3 billion in the quarter, reflecting a single U.S. client that transferred assets directly to Pinestone, which we pre-announced in the previous quarter, along with rebalancing from clients in the U.S., AMIA, and Asia. As previously announced, we are aware of one remaining client request to transfer approximately $1.5 billion of AUM directly to Pinestone in the second half of the year. We continue to expect direct transfer in 2026 to be lower than prior year. Turning to our private market platform, private markets AUM increased 0.5% during the quarter and 1.4% year to date, reflecting net inflows and market appreciation. We raised close to $100 million in new mandates, During the quarter, we launched a note feeder that allows life insurers to access our private credit strategies. This new investment vehicle has been generating good traction and we expect demand will grow over time. With approximately 20% of our AUM tied to life insurers, we see good opportunity in this space. During the quarter, more than $500 million of capital was deployed into new projects, bringing total deployed capital to $800 million year-to-date. Our pipeline and undeployed capital remained strong at $1.9 billion. We also began deploying capital into our Canadian Built Opportunities Funds, and have expanded the strategy with new clients, which is expected to fund in the third quarter. We see good opportunity to bring on potential clients over time in this innovative structure. We continue to view private markets as a key driver of long-term value creation. As part of a strategic plan during the quarter, we align private markets with the firm-wide investment governance model, consistent with the structure established in public markets. Under this model, investment teams are aligned under the Global Investment Office, strengthening investment oversight and collaboration. This change will enable us to fully leverage FIERA scale and capture multi-assets opportunities across all platforms. Now, taking a look at our Canadian franchise, we are continuing to allocate resources towards growth within the Canadian retail channel through relationships with financial intermediaries. We were recently granted four SMA platform approval with our well-known Canadian advisor, which follows last year's SMA platform addition with a prominent Canadian wealth manager. One of our flagship equity strategies was also added to a large Canadian life co-investment platform during the quarter. Within our Canadian business, outside of our sub-advised AUM, we continue to see momentum in net organic growth supported by efficient distribution, and our multi-strategy platform. Looking outside Canada, in AMIA, our integrated fixed income strategies captured net inflows of close to $200 million in the quarter, reflecting our success within the insurance market. Starting to investment performance, we saw meaningful improvement during the quarter across several of our key equity strategies. Notably, our large cap equity strategies produced strong absolute returns With most outperforming their respective benchmarks and peers in the period, while continuing to offer competitive results over long term. Our emerging market strategies delivered another quarter of benchmark outperformance, further building on an impressive track record of top quartile returns and alpha generations across one, three, and five year periods. Despite the recent headwinds and the market-related challenges faced by our quality-focused equity platform over the past few quarters, we are encouraged by the results of the current quarter. We remain focused on sustaining this momentum and returning to the high standard of long-term outperformance that has historically defined our platform. Within fixed income, our strategies continue to deliver strong absolute and relative performance with 91% of our fixed income AUM outperforming respective benchmarks over the one year period. Looking at private markets, our real estate core and small cap industrial funds continue to perform well in the quarter supporting continued demand for the real estate strategies. Private credit also delivered strong performance supporting strong client interest in the strategy. With that, I'll turn the call over to Lucas to walk us through the financials in more detail.