Slate Office REIT

Good morning, ladies and gentlemen, and welcome to the Slate Office 3 second quarter 2023 Financial Results Conference Call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during the call you require immediate assistance, please press star zero for the operator. This call is being recorded on Wednesday, August 2, 2023. I would now like to turn the conference over to Paul Walensky, SVP, National Retail Sales and Investor Relations. Please go ahead.

Thank you, Operator, and good morning, everyone. Welcome to the Q2 2023 conference call for Slate Office REIT. Today, I am joined this morning by Brady Welch, Interim Chief Executive Officer, Charles Peach, Outgoing Chief Financial Officer, and Robert Armstrong, incoming Interim Chief Financial Officer. Before getting started, I would like to remind participants that our discussion today may contain forward-looking statements, and therefore, we ask you to review the disclaimers regarding forward-looking statements as well as non-IFRS measures, both of which can be found in management's discussion and analysis. You can visit Slate Office REIT's website to access all of the REIT's financial disclosures including our Q2 2023 investor update, which is now available. I will now hand over the call to Brady Welch for opening remarks.

Thank you, Paul. In a challenging operating environment, our team remains focused on positioning the REITs portfolio for stability and long-term performance. This quarter, we continue to assess opportunities to strengthen the REITs balance sheet and liquidity. In April, the special committee of the board completed its review of strategic alternatives and announced a value preservation plan under which the REIT amended its monthly distribution to retain $24 million of cash annually. The REIT's board unanimously approved this plan as the most prudent way to preserve value for unit holders in the current macroeconomic environment while also positioning the REIT for long-term success. The REITs leasing activity continues to show improved rental rates for both new leases and renewals. Looking ahead, our team remains focused on leasing vacancies, extending lease terms, increasing occupancy, and growing in place rental revenue. Long term, we continue to look for opportunities to reposition the REITs portfolio away from capital intensive assets towards stable cash flowing assets with lower capital requirements. We believe the office plays an an essential role in workplace culture, productivity, and innovation, and we continue to evaluate opportunities to align our portfolio with stable tenants, assets, and markets. I'll now hand it over to Charles for some additional highlights. Thank you, Brady.