Telesat Corporation

Thank you for standing by. At this time, I would like to welcome everyone to Telesat's second quarter 2025 financial results call. All lines have been placed on mute to prevent any background noise. After this speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. Thank you. I would now like to turn the conference over to James Ratcliffe, Vice President, Investment Relations. Please go ahead.

Thank you, Jimmy. Good morning, everyone, and thank you for joining us today. Earlier this morning, we filed our quarterly report for the period ending June 30th, 2025 on Form 6-K with the SEC and on CDAR+. Our remarks today may contain forward-looking statements. There are risks that Telesat's actual results may differ materially from the results contemplated by the forward-looking statements as a result of known and unknown risks and uncertainty. For a discussion of known risks, please see TELUSAT's annual report and updates filed with the SEC. TELUSAT assumes no responsibility to update or revise these forward-looking statements. I'd now like to turn the call over to Dan Goldberg, TELUSAT's President and Chief Executive Officer.

Okay. Thanks, James, and thank you all for joining us this morning. Q2 is in line with our expectations, and I'm pleased with Telesat's performance in the first half of this year in both our GEO and LEO segments. In GEO, our team continues to execute in a highly disciplined, focused manner, with the NIMIC 5 renewal with DISH in Q4 last year providing the biggest top-line headwind as far as year-over-year comparisons are concerned. In LEO, We're moving forward rapidly on both the technical and commercial aspects of Telesat Lightspeed. We're making steady progress on the development of the satellites, ground infrastructure, and the software for the network. I'm very pleased with the work that's taking place. On the commercial side, we're seeing strong interest in Telesat Lightspeed from customers across our target segments, particularly with respect to aero and government users at this time. We have a robust pipeline of opportunities at various stages of development, and we're working hard to turn them into completed deals and committed backlog, which for Telesat Lightspeed was above one billion Canadian dollars at the end of the second quarter, and up slightly from the last time we spoke, adjusting for movements in FX. We'll update you on our progress as the year unfolds. Lastly, and as we've noted before, we remain focused on refinancing the restricted group debt that begins to come due in December next year and expect to engage with our lenders in the near term. We've also been progressing with our search for a new CFO given Andrew's planned retirement, and we expect to have some clarity there in the near future as well. And speaking of Andrew, I'll hand over to him now so that he can speak to the numbers in more detail before opening the call up to questions.