2 So, over the past 40 years, Royal Gold has consistently delivered on its commitments, whether they be operational, strategic or financial. And today we want to show you not only how we've built that record, but how it sets the foundation for the next stage of our growth. There are three themes to today's presentation. The first is the execution of a consistent strategy, the second is the benefits of holding a large and well-diversified portfolio, and then thirdly, growth, where we see growth embedded within the portfolio and also how we think about growth when we look at things outside of the company. And this morning, we also published two things that will help provide supporting details to all of this that we present today. We issued a press release with our guidance, and we also published our updated asset handbook, which is available on our website. This asset handbook describes all of the assets where we have interests. We believe there is a meaningful disconnect between the intrinsic value of our business and how it's currently reflected in the market. We want to show you today why we think that gap should close by explaining some of the drivers of our performance and the path forward. You will hear from most of our senior management today. Bill Heissenbuttel is our President and CEO. He will give an overview of Royal Gold and our strategic position. Jason Hynes is SVP of Strategy and Business Development. He will talk about the acquisitions we did in 2025 and their impact on the company. Martin Raffield is our SVP of Operations. He will talk about guidance and the highlights of the portfolio that underpin that guidance. Paul Libner is our CFO. He will talk about our approach to capital allocation, our strategy and our framework. Dan Breeze is SVP of Corporate Development. He will talk about transactions -- the transaction environment and our approach to acquisitions. I'll come back up for a few minutes and talk about some of the unique attributes of Royal Gold as an equity investment. Then Bill will close things out with some closing comments before we enter the Q&A session. When we start the Q&A session, we'll have other members of the management team join. We have Randy Shefman, who's our SVP and General Counsel, and Allison Forest, who is VP of Investment Stewardship here with us today. So, please ask any questions that may touch on their areas of expertise. We also have two other members of the IR team here. We have Kim Bergen and Kevin Chiew. And we'd be happy to answer any questions that anybody has about any aspect of our business. We want to be open and transparent during today's session. So, we expect formal remarks will run for just over two hours. We'll do a ten-minute break right after Martin's section, so there is a little bit of an opportunity to stretch your legs. Then at about 3:40, 3:45, we're going to go downstairs and we'll ring the closing bell for the NASDAQ. June will be our 45th Anniversary of trading on the NASDAQ. We're one of the longest tenured companies on the exchange, So, please join us to celebrate this milestone. After that, we will come back up here, and we'll have a cocktail reception, and that will run until 5:30 or 6:00.