Hello, this is Chorus Call conference operator. Thank you for standing by. Welcome to Boston Pizza's second quarter conference call. As a reminder, all participants are in listen-only mode, and the conference is being recorded on August 13th, 2026. After the presentation, there will be an opportunity to ask questions. Participants on the call may also pose their questions via email to Boston Pizza's investor relations department at investorrelations@bostonpizza.com. Should you need assistance during the conference, you may reach an operator by pressing star then zero on your telephone. At this time, I would like to turn the conference over to Michael Harbinson, Chief Financial Officer. Please go ahead. Good morning and welcome to the call. Today we'll be discussing the 2026 second quarter results for both Boston Pizza Royalties Income Fund, or the Fund, and for Boston Pizza International, or BPI. For complete details on our financial results, please see our second quarter materials filed earlier today on SEDAR+ or visit the Fund's website at bpincomefund.com. Should you require additional information after the call, you can reach out to our investor relations at investorrelations@bostonpizza.com. The Fund is a limited purpose, open-ended trust established under the laws of British Columbia. Its purpose is to acquire, indirectly, certain trademarks and trade names used by BPI in its Boston Pizza restaurants in Canada. BPI pays royalty income and distribution income to the Fund based on franchise revenues of royalty pool restaurants. For a complete description of the Fund and its business, please see the annual information form dated February 12th, 2026, which was filed on sedarplus.ca. Before I turn the call over to Jordan Holm, President of BPI, I'd like to note that certain information in the following discussion may constitute forward-looking information. For a more complete definition of forward-looking information and the associated risks, please refer to the Fund's management discussion and analysis issued earlier today. Forward-looking information is provided as of the date of this call, and except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. With that, I will now turn the call over to Jordan. Thank you, Michael, and welcome everyone to Boston Pizza's second quarter investor conference call. Today I'll discuss our second quarter results and provide a brief outlook. Michael will summarize our key financial highlights and as usual, we'll leave time for your questions at the end of today's call. Boston Pizza maintained strong same restaurant sales in the second quarter, driven in part by heightened guest engagement during the FIFA World Cup Tournament, and these results reflect the continued success of our promotions and ongoing momentum across takeout and delivery. During the quarter, the Fund posted record franchise sales from restaurants in the royalty pool of CAD 256.5 million and CAD 494.9 million year to date, representing an increase of 1.9% and 2.5% respectively, versus the same periods one year ago. SRS was 2.3% for the second quarter and 2.7% year to date. SRS for the second quarter and year to date was principally driven by continued momentum in the takeout and delivery business, promotional initiatives, and increased restaurant traffic associated with the FIFA World Cup. We began the second quarter of 2026 with the launch of a playoff promotion to accompany the hockey and basketball playoff season. This initiative introduced a variety of new menu innovations supported by extensive national advertising centered on our Feast Like a Hockey God campaign, during which guests were encouraged to call upon the hockey gods and gather at Boston Pizza restaurants throughout the playoff season. in June, we also launched several promotional campaigns in alignment with the beginning of the FIFA World Cup, aimed at boosting guest engagement and celebrating Team Canada. To continue the momentum and excitement built with the FIFA World Cup, we introduced a new summer feature menu alongside a giveaway offering and a chance to win concert prizes through our ongoing partnership with Live Nation Canada. Turning to restaurant development, no new restaurants opened, two restaurants permanently closed, and 10 restaurants completed restaurant renovations during the second quarter. Year to date, no new restaurants have opened, four restaurants in total have closed, and 21 restaurants have been renovated. We have an array of exciting initiatives lined up to maintain our strong sales momentum and guest engagement in the third quarter of 2026, which I will discuss shortly. First, I will hand the call back to Michael for a review of the Fund's financial performance. Michael? Thank you, Jordan. The Fund posted royalty income of CAD 10.3 million for the quarter and CAD 19.8 million year to date, compared to CAD 10.1 million and CAD 19.3 million respectively for the same periods one year ago. The Fund posted distribution income of CAD 3.4 million for the quarter and CAD 6.5 million year to date, compared to CAD 3.3 million and CAD 6.3 million respectively for the same periods one year ago. Royalty income and distribution income for the quarter and year to date were based on 372 Boston Pizza restaurants in the royalty pool that reported franchise sales of CAD 256.5 million for the quarter and CAD 494.9 million year to date. For the same periods in 2025, royalty income and distribution income were based on the royalty pool of 372 Boston Pizza restaurants, reporting franchise sales of CAD 251.8 million and CAD 483 million respectively. The Fund's net and comprehensive income was CAD 5.9 million for the quarter, compared to CAD 14.3 million for the second quarter of 2025. The CAD 8.4 million decrease in the Fund's net and comprehensive income for the quarter compared to the second quarter of 2025 was primarily due to an CAD 11 million increase in fair value loss and CAD 0.3 million increase in net interest expense, partially offset by a CAD 2.6 million decrease in income tax expense and a CAD 0.3 million increase in royalty income and distribution income. The Fund's net and comprehensive income was CAD 18.1 million year to date, compared to CAD 20.7 million year to date in 2025. The CAD 2.6 million decrease in the Fund's net and comprehensive income year to date compared to the same period in 2025 was primarily due to a CAD 3.7 million decrease in fair value gain and a CAD 0.4 million increase in net interest expense, partially offset by a CAD 0.9 million decrease in income tax expense and a CAD 0.6 million increase in royalty income and distribution income. The Fund's cash flows generated from operating activities for the quarter was CAD 10.4 million, compared to CAD 9.9 million in the second quarter of 2025. The increase of CAD 0.5 million was primarily due to an increase in royalty income and distribution income of CAD 0.3 million and an increase in changes in working capital of CAD 0.3 million, partially offset by nominally higher income taxes paid. Cash flows generated from operating activities year to date was CAD 20 million, compared to CAD 19.2 million in the same period in 2025. The increase of CAD 0.8 million was primarily due to an increase in royalty income and distribution income of CAD 0.6 million and an increase in changes in working capital of CAD 0.3 million, partially offset by higher income taxes paid of CAD 0.1 million. While net and comprehensive income or loss and cash flows from operating activities are both measurements under IFRS accounting standards, the Fund is of the view that net income or loss and cash flows from operating activities do not provide the most meaningful measurement of the Fund's ability to pay distributions. Net income contains non-cash items that do not affect the Fund's cash flow, whereas cash flow from operating activities is not inclusive of all of the Fund's required cash outflows, and therefore is not indicative of cash available for distribution to unitholders. Non-cash items include the fair value adjustments on the investment in Boston Pizza Canada Limited Partnership, the Class B unit liability, interest rate swaps, and changes in deferred income taxes. Consequently, the Fund reports non-IFRS metrics of distributable cash and payout ratio to provide investors with, in the Fund's opinion, more meaningful information regarding the Fund's ability to pay distributions to unitholders. The Fund generated distributable cash of CAD 8.2 million for the quarter, compared to CAD 8 million for the same period in 2025. The increase in distributable cash of CAD 0.2 million, or 3.4%, was primarily due to an increase in cash flows generated from operating activities of CAD 0.5 million, partially offset by higher interest paid on debt of CAD 0.2 million and higher Class B unit entitlement of CAD 0.1 million. The Fund generated distributable cash of CAD 15.8 million year to date, compared to CAD 15.3 million for the same period in the prior year. The increase in distributable cash of CAD 0.5 million, or 3.2%, was primarily due to an increase in cash flows generated from operating activities of CAD 0.8 million, partially offset by higher interest paid on debt of CAD 0.2 million and higher Class B unit entitlement of CAD 0.1 million. The Fund generated distributable cash per unit of CAD 0.386 for the quarter and CAD 0.741 year to date, compared to CAD 0.374 and CAD 0.718 respectively for the same periods in 2025. The increase in distributable cash per unit of CAD 0.012, or 3.4%, for the quarter, and CAD 0.023 or 3.2% year to date, was primarily due to the increase in distributable cash outlined just now. The Fund's payout ratio for the quarter was 96.3%, compared to 92.3% in the second quarter of 2025. The increase in the Fund's payout ratio for the quarter was due to distributions paid increasing by CAD 0.6 million, or 7.8%, partially offset by distributable cash increasing by CAD 0.2 million, or 3.4%. Year to date, the Fund's payout ratio was 98.8%, compared to 96.1% year to date in 2025. The increase in the Fund's payout ratio year to date was due to distributions paid increasing by CAD 0.9 million, or 6.1%, partially offset by distributable cash increasing by CAD 0.5 million, or 3.2%. On a trailing 12-month basis, the Fund's payout ratio was 103.1% as at June 30th, 2026. On August the 12th, 2026, the trustees of the Fund approved a cash distribution for the period of July 1st, 2026 to July 31st, 2026 of CAD 0.124 per unit, which will be paid on August 31st, 2026, to unitholders of record at the close of business on August 21st, 2026. The trustees' objective in setting a monthly distribution amount is that it be sustainable. The trustees will continue to closely monitor the Fund's available cash balances given the fluctuating economic outlook. With that, I will now turn the call back over to Jordan for more on the outlook. Jordan? Thank you, Michael. This season, nationwide, Boston Pizza locations are celebrating summer with Live & Local, a new initiative designed to strengthen guest engagement and support local artists and talent by hosting live music performances at our restaurants. As we head into the fall, we'll be launching an exciting promotion planned in tandem with the start of this year's football season, with a feature menu containing new guest favorites and crowd-pleasers. Additionally, our popular BP Kids Cards promotion will run in the third quarter. For a CAD 5 donation to the Boston Pizza Foundation, families will receive a card for five free kids' meals, making it a perennial favorite. Though we attained record franchise sales during this second quarter of 2026, reflecting the sustained strength and resilience of our business model, we continue to closely monitor the evolving trade landscape and underlying geopolitical developments that could impact operations, including the ongoing conflict in the Middle East. Although the conflict has not yet led to material increases in input costs for our restaurants, prolonged global supply chain disruptions could potentially elevate future costs and weigh on consumer discretionary spending. We remain prepared to adapt as conditions evolve. Looking ahead, our core priorities remain focused on delivering excellent guest experiences, empowering our franchisees, and driving sustainable long-term growth. With that, I'd like to turn it back to the operator to begin the question and answer session. Operator? Thank you. We will now begin the question and answer session. Anyone who wishes to ask a question may press star then one on their touch-tone phone, or send the question via email to investorrelations@bostonpizza.com. Please note those questions that we do not get to during the call will be answered via email immediately following the end of the investor conference call. Our first question comes from Nick Corcoran with Acumen Capital. Please go ahead. Morning, guys, and thanks for taking my questions. Morning, Nick. Just the first question. You had relatively same restaurant sales growth in the quarter. Any indication how much was from guest traffic versus higher ticket? Yeah, great question. This is the seventh consecutive quarter of same restaurant sales, which is a great trend for us, shows a lot of momentum. We have been talking over that seven-quarter period about the contributions from guest visitation, that we are seeing more people coming in and more of the overall growth coming from more guests versus menu price adjustments. This quarter was a little bit of the reverse. Still positive on both fronts, I should add, but a little bit more came from menu pricing. That is just seasonal. We tend to take main menu pricing in June and November. That had a factor in the results. But fair to say that we continue to be focused on both aspects, since we are always going to need to take a little bit of menu pricing here and there, and we do that very carefully and as judiciously as we possibly can. But our focus, and you heard it through the promotional calendar and some of the, whether it is menu or events, certainly sports was a big part of the Q2 results, that drawing more people in has really been the focus. But to answer your question succinctly, the second quarter had a little bit more contribution from menu pricing, but still positive on a year-over-year traffic trend. That is good color. Any indication what stores might be in the pipeline for opening? Yeah, absolutely. We have three under construction today: Revelstoke, British Columbia, Dryden, Ontario, and The Pas, Manitoba. I can share that with you because they are approaching their opening dates, and they are all public. We have some other irons in the fire. We are just not sure whether we are going to get them in in this construction season or whether they will get pushed into early 2027. That happens sometimes just with permitting and trades delays and supply chain and other things that affect our construction. I will point out here, in addition to the new restaurant openings, we are really excited about the investment that our franchisees are continuing to make in restaurant renovations. Our target for the year was around 40. It looks like we might even be ahead of the 40 number. Last year, we had 40 completed renovations. I think the number before that for 2024 was 26 renovations. Really ramping up to make those investments. The before and after experience for our guests and for our staff, quite frankly, is really powerful. We are really encouraged by those investments and by the impact that it makes. We are at about approaching 30 of the renovations completed, and like I said, could even be above 40 for the full year 2026. We are excited about that, in addition to the new restaurants that I mentioned. Great. Maybe one last question from me. You closed two stores in the quarter. I think it is four for the year. Any color on what might have driven those closures and how the health of the remaining restaurants is? Yeah, fair. Last year, just for comparison, last year, 2025, full year, we had zero closures. That is a little unusual, and I would say a little unusual for us to have four year to date so far this year, meaning that last year was a little under the average overall for a system of our size with close to 370 restaurants to have zero closures. Then this year, we have four year to date. Each one is an individual story. Some of them are a lease expiration, some of them are expropriation for development. In a lot of cases, we are leasing the land or the land and building, or our franchisees are in this case, and the developer or the owner of the land wants to do something different with it. And so that necessitates a closure and hopefully a reopening somewhere else if it's a strong market for us. I guess, the tight answer for unitholders and investors on the call is that, does the rate of closures signal brand weakness? Are these a sign of things to come? We do not feel that way at all. It's not unusual for a group of our size and our age as well, over 60 years. Some of our restaurants have been in locations for a really, really long time. There just comes a time when we have to make a call about the long-term sustainability of that location. We have some of those examples in the four closures this year. It's not something that we're troubled about. We obviously don't like to see BP restaurants close. We like to see the new ones that I mentioned open. We want to continue to grow the system for the benefit of our guests and the brand overall. But we did have those two closures in the quarter, four year to date. We don't see that as a concerning trend. Great. Thanks for taking my question, and I'll pass along. Thank you, Nick. Okay, well, I can assume that there aren't other folks in the queue for questions today, which I understand. It's a busy time. But since there are no further questions, I'd like to thank everyone for joining us on the call today. As a proud Canadian restaurant, Boston Pizza continues to appreciate your interest and support, and we look forward to reconnecting with you during our third quarter conference call, which will be held in November of this year. So thank you and enjoy the rest of your day. This brings to an end today's conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day. Thank you.