Saputo Inc.

Greetings and welcome to the Saputo, Inc. Fiscal 2022 third quarter results. The presentation participants will be in a listen-only mode. Afterwards, we'll conduct a question-and-answer session. At the time, if you have a question, please press the 1 by the 4 on your telephone. If you need time to conference, you need to reach the operator. You may press the start or the zero. As a reminder, today's call has been recorded Thursday, February 10, 2022. Now, I would like to turn the conference over to Lino Saputo, Jr. Please go right ahead.

Thank you, Tommy. Thank you, Tommy. Good afternoon and welcome to our third quarter fiscal 2022 earnings call. Our speakers today will be Lino Saputo, Chair of the Board, President and Chief Executive Officer, and Maxime Therrien, Chief Financial Officer and Secretary. Before we begin, I'd like to remind you that this webcast and conference call are being recorded and the webcast will be posted on our website along with the third quarter investor presentation. 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 releases 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, Nick, and good afternoon, everyone. Over the past quarter, our teams have demonstrated their agility once again, adapting quickly to changing market conditions. They've maintained a laser focus on our priorities and have taken decisive actions from an operational and customer service perspective. My ongoing gratitude goes to all Saputo employees for their outstanding efforts in a dynamic and competitive operating environment. Earlier today, we reported our third quarter results, which include strong revenue growth in all sectors and improved consolidated adjusted EBITDA when compared to last quarter. Our teams have been resilient in the face of numerous supply chain challenges, and we made good progress in addressing labour availability issues. We're taking several deliberate actions to improve productivity and investing in capacity, innovation and in our brands. In parallel, we've also worked to recover increasing costs through pricing initiatives in the current environment. We will be aggressive in managing inflation by driving price recovery activities. We took further steps during the third quarter to align our portfolio for stronger and more profitable growth in line with our strategic plan. Building on our CIFUDO promise, we achieved a number of milestones this past quarter. First, our Dairy Division USA announced a collaborative partnership with Hyperlite Energy. the developer of Hilux, a low-cost solar steam technology which aims to cost-effectively reduce greenhouse gas emissions in an industrial setting. This innovative renewable thermal energy system will be implemented at one of our facilities in California, allowing us to leverage the Hilux technology to help reduce the CO2 intensity of our operations. Second, Through a partnership with Light Source BP, we completed the construction of a five megawatt solar project to provide renewable power to our David Stowe Creamery in the UK. We expect this project to deliver 10% of the plant's annual electricity demand and enable us to reduce CO2 emissions by nearly 1,500 tons annually. Third, Our Europe sector partnered with flexible packaging supplier WePak UK in a project which resulted in 33% of virgin plastic being replaced with post-consumer recycled or PCR material for some of our block cheese packaging. The PCR packs are being gradually introduced in Marks and Spencer stores. and we expect to roll out PCR packaging to a wider range of products in the future as technology improves and the quantity of available materials increases. Finally, we maintained our B-score in our CDP climate disclosure above the industry average. While our operating environment remains complex, strong demand across all our segments The implementation of operational optimization activities and the impact of our pricing initiatives will be key drivers moving forward. We have strong and diversified cash generation capabilities, and we expect our capital allocation strategy to deliver long-term shareholder value. I'll now turn the call over to Max for the financial review before providing some additional comments. Max?