Operator

Good morning, I would like to welcome everyone to Canadian Net REIT's 2026 First Quarter Earnings Conference Call. [Operator Instructions] I would like to advise everyone that this conference is being recorded.

Before we start, I have been asked by Canadian Net to read the following message regarding forward-looking statements and non-IFRS measures. In talking about financial and operating performance and in responding to questions today, management may make forward-looking statements including statements concerning Canadian Net's objectives and strategies to achieve them as well as statements with respect to plans, estimates and intentions or concerning anticipated future events, results, circumstances or performance, which are not historical facts. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from the conclusions in these forward-looking statements.

Additional information on the risks that could impact actual results and the expectations and assumptions management applied in making these forward-looking statements can be found in Canadian Net's most recent annual information form for the year ended December 31, 2025, and management's discussion and analysis for the period ended March 31, 2026, which are available on their website at www.cnetreit.com and on SEDAR+ at www.sedarplus.com. Management will also refer to non-IFRS financial measures today, which are widely used in the Canadian Real Estate Industry, including FFO, normalized FFO, AFFO and NOI. Management believes these financial measures provide useful information to both management and investors in measuring the financial and financial condition of Canadian Net.