Saputo Inc.

Greetings and welcome to the Saputo Incorporated Fiscal 2022 First Quarter Results Conference Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question and answer session. At that time, if you have a question, please press the one followed by the four on your telephone. If at any time during the conference you need to reach an operator, please press star zero. As a reminder, this conference is being recorded on Thursday, August 5th, 2021. I would now like to turn the conference over to Marlene. Please go ahead.

Good afternoon, everyone, and thank you for joining us. Taking part in the webcast are Lino Saputo, Maxime Therrien, and Kai Bachmann. Before answering questions from our analysts, Lino, Max, and Kai will provide an overview of our fiscal 2022 first quarter results and an update on our operational initiatives. Please note that if you are joining us by phone, you will not be able to see the visual component of the presentation. You must join the webcast for full access to the content. Before we begin, I remind you this webcast is being recorded and will be posted on our website along with the investor presentation we are showing. Please also note that some of the statements provided during this call are forward looking. Such statements are based on assumptions that are subject to risks and uncertainties. We refer to our cautionary statements regarding forward-looking information in our annual report, press release, and filings. Please treat any forward-looking information with caution, as our actual results could differ materially. We do not accept any obligation to update this information except as required under securities legislation. I'll now hand it over to Lino.

Thank you, Marlene. As we round out the first quarter of fiscal 22, we're beginning to see signs of recovery in many of the regions where we operate. But we are definitely not yet in the clear. We face some difficult headwinds, and although things look more hopeful as each day passes, the impacts of the pandemic still resonate in our business. Before Max digs deeper into this and our fiscal 22 financial results, I'll share some brief highlights from our 2021 Saputo Promise Report published this morning. Of note, this year we aligned our report with the recognized disclosure frameworks, SASB and TCFD. Among many other accomplishments, it details our considerable efforts towards our environmental pillar. Although our metrics trended negatively this year, mainly as a result of the pandemic, we still made tremendous strides towards our 2025 environmental plan targets. In fiscal 21, we allocated investments to complete 12 projects across our network, and I'm pleased to announce a further 24 projects will be funded in fiscal 22. In fact, today we amended our 1 billion US dollar revolving credit facility, which now includes a sustainability linked loan structure. This introduces an annual pricing adjustment based on the achievement of key climate and water targets in line with our 2025 commitments. Beyond the scope of our own operations, we're also dedicated to doing our part in creating a sustainable food system. our passion for this led to the development of our supply chain pledges an exciting initiative coming to reality this fiscal year as part of these pledges which we announced today by 2025 we aim to source 100 percent of our principal ingredients sustainably and to contribute 10 million dollars to fund relevant projects in this area With so many forward-thinking elements underway in our business, some of which Kai will cover shortly as part of our organic global strategic plan, I strongly believe we're moving in the right direction, creating shared value for all stakeholders and ensuring long-term sustainability of our business. I want to thank every Saputo employee for their resilience and for their care for each other and for their care for our business. Their passion truly drives our success. Our team has gallantly adapted to the changes and challenges of the last year and a half, and I strongly believe we're in a great position to seize the opportunities which are coming our way. Aspiring to become bigger, better, and stronger, we're already making solid progress towards our goals. With that, Max, I'll pass it over to you to provide an overview of our financial results.