Pet Valu Holdings Ltd.

up before stepping back into the question queue so that we can allow time for as many people to ask questions as possible. I would now like to turn the call over to James Allenson, Investor Relations at Petvalue. Mr. Allenson, please go

ahead. Good morning and thank you for joining Petvalue's call to discuss our second quarter 2025 results which were released earlier this morning and can be found on our website at .petvalue.com. With me on the call is Richard Maltzberger, Chief Executive Officer, then the Dry Sale Chief Financial Officer, and Greg Ramier, President and Chief Operating Officer. Before we begin, I would like to remind you that management may make forward-looking statements which include guidance and underlying assumptions. Forward-looking statements are based on expectations that involve risks and uncertainties which could cause actual results to differ material from those expressed today. For a broader description of risks related to our business, please see our Q2 2025 MD&A, 2024 Annual Information Form, and other filings available on CDAR+. Today's remarks will also be accompanied by an earnings presentation which can be viewed through our live webcast and is also available on our website. Now I would like to turn the call over to Richard.

Thank you, James, and good morning, everyone. We are pleased to report another quarter of strengthening performance as devoted pet lovers increasingly chose Petvalue for our balance of quality, convenience, value, and expertise for their pet care needs. All in, this helped drive Q2 results at or ahead of our expectations across all key financial indicators. Same-store sales grew 2.6%, marking the third consecutive quarter of accelerated growth, accompanied by a return to positive growth in same-store transactions, while revenues grew 6%, once again outpacing system-wide sales on higher wholesale penetration. We then successfully paired sales and revenue growth with stronger than expected margins, ultimately delivering adjusted EBITDA growth of 4% and adjusted EPS growth of 6%, despite continued absorption of higher supply chain fixed costs. These outcomes are a direct result of well-crafted commercial and supply chain plans together with strong execution by our teams. All the while, we continue to advance our long-term strategies to better serve Canadian devoted pet lovers and grow the long-term returns for our franchisees. These actions include opening new stores, reinvesting into existing stores, enhancing our digital capabilities, improving our merchandising excellence and product innovation, and strengthening our infrastructure. Greg will speak more to these in a minute. As we look into the back half of the year, we have growing conviction in the sustainability of our recent commercial success, using data and expertise to target investments that drive continued momentum in our top line and deliver margin dollars for reinvestment and returns. Tying this together with strong performance in the first half, we are raising our full-year outlook, which Linda will cover in more detail shortly. Before passing the call to Greg, I want to celebrate completion of the final major milestone in our supply chain transformation. In mid-July, we commissioned our third new distribution center, located in Calgary, Alberta, essentially concluding our multi-year, $100 million investment to modernize and upsize our distribution center capabilities. In 2022, it seemed like a daunting task to undertake the single largest and most complex investment in our company's history. But through meticulous planning and execution, we remained on time and on budget, and now operate the most advanced and resilient distribution network supporting the Canadian pet specialty sector. This is a key moment of pride, not just for our extremely capable supply chain team, but for all of our aces and franchisees as we continue to elevate the standard for pet specialty retail in Canada. Well done. Now, over to Greg to walk through our operational accomplishments. Greg? Thank you, Richard.