Operator

Welcome to Vital Infrastructure Property Trust Q1 2026 Earnings Conference Call. [Operator Instructions] This call is being recorded today, May 14, 2026.

I would now like to turn the conference over to Steven Hong, Vice President of Investor Relations.

Steven Hong

Thank you, operator. Good morning, everyone, and thanks for participating in our first quarter results conference call. This is Steven Hong, speaking. Joining me are Zach Vaughan, CEO; Stephanie Karamarkovic, CFO; Mike Brady, President; and Tracey Whittall, COO. Our earnings announcement was released yesterday afternoon, and we posted an updated investor presentation on our website, which listeners can refer to during the call. Following comments, we'll be glad to ask and take questions from analysts.

Today's discussion includes forward-looking statements. As always, we want to caution you that such statements are based on management's assumptions and beliefs. These forward-looking statements are subject to uncertainties and other factors that could cause actual results to differ materially from such statements. Please see our public filings on SEDAR+, including our MD&A and annual information form for a discussion of these risk factors.

During this call, we will also reference certain non-GAAP financial measures. A reconciliation to the most directly comparable IFRS measures is provided in our MD&A and earnings release. Unless otherwise noted, all amounts discussed today are in Canadian dollars.

With that, I will now hand it over to our CEO, Zach Vaughan.

Zachary Vaughan
CEO & Non-Independent Trustee

Thanks, Steven. Good morning, everyone. Thank you for joining us today for our Q1 results. In addition to the