Hello, everyone, and thank you all for joining us during the Lytham Partners Fall 2026 Investor Conference. My name is Adam Lowensteiner, Vice President of Lytham Partners, and today, Aidan Mills, President, CEO, and Director of Northstar Clean Technologies, will be taking us through a brief slideshow presentation. Northstar Clean Technologies trades under the ticker symbol of ROOOF on the OTCQB market and ROOF on the TSX Venture Exchange. Let's get started. Aidan, welcome. I will turn the floor over to you for your presentation. Thanks, Adam, and good to be presenting. ROOF or, as we always say in the U.S., we're Scooby-Doo Roof. So we have an extra O in the U.S. ticker. My name's Aidan Mills. I'm the CEO of Northstar Clean Technologies, and I'll take you through the presentation today. Really what Northstar does is we're a waste to value company, and we take asphalt shingles, and we reprocess them into their component parts. An asphalt shingle's made up about 50% aggregate, about 25% limestone and fiberglass, and 25% asphalt, and it's a completely circular economy solution that we have. We also have significant validation from industry partners for the most valuable product, especially the asphalt that comes out the back of the plant. I'll cover the investor highlights about we're solving a significant market or significant shingle disposal problem. We have first-mover advantages and with patented technology. The most important thing from an investor perspective is that we actually have a commercial facility ramping up and now operating in Calgary. This is no longer just a technology play. This is actually an operating facility. I'll talk you through the strong margins from the follow-on facilities. The real advantage about this is you can build it in every single city in North America that has over 2 million people. So huge market with significant expansion potential. Excuse me. If you look at shingle waste going into landfills across North America, it's about 16.5 million tons. About 1 million of that can be ground up and put into roads in various states. But if you look at that's about 1.5 million in Canada and 15 million in the U.S. What that means just from that asphalt percentage, that's more than 20 million barrels of oil that is going into landfill annually. The shingle manufacturers have come out with a strategy statement a couple of years ago, where they want to divert 50% of all that waste away from landfill by 2035 and 100% by 2050. Just to give you a bit of a scope as to what that means in terms of market size for Northstar, if we just built our base case facility, so diverting 40,000 tons a year away from landfill, we'd have to build more than 400 facilities to solve this waste problem. So huge advantage just in terms of the market size and the potential here. Our value proposition is really pretty straightforward. As I said, we take the shingle tile and split it up into its individual component parts. 35% of our revenue comes from tipping fees, and that's encouraging roofers or cities, et cetera, for the shingles to come to us rather than going into landfill. 65% comes from the product revenue side. The aggregate and the limestone sort of fiber fiberglass, those are all in the CAD 10 to CAD 20 per ton range. The most valuable product, of course, is asphalt. That's about 95% of our product revenue. If it was priced today with current oil prices, it could be CAD 600 to CAD 700 a ton. I'm always using Canadian dollars in my presentation, not US dollars. You can see that as we think about our revenue stream, really the key things that we have are the tipping fee and the asphalt price. That drives some of the substantial revenue for the company. I'll not go through this in detail, but patents in place in Canada, the U.S., and also developing internationally under the PCT. So well protected from an IP perspective. As we think about the fundamentals of the business, again, I said the most important thing is the tipping fee and the asphalt price. If you look at tipping fees historically, and you look at the rise, tipping fees are almost like a natural hedge to inflation because tipping fees continue to increase. Landfills are getting fuller, and not emptier, and obviously difficult to permit new landfills. We think that the tipping fee side of the business is well supported with the industry fundamentals and also on the downstream side. The asphalt, in addition, is well supported, not only obviously by kind of crude price because that's the indicator that drives the fundamental price for asphalt. If you look at the supply-demand balance, in the U.S., as you can see from the slide, we've had 2 million tons per annum of asphalt dropping off. In Europe, about 3 million tons. That's expected to continue as refineries reposition to biofuels, and less efficient refineries close. If you step back and you think about those two fundamentals of the business, the tipping fee and the asphalt price, there's fundamental support for both of those, which gives long-term support for the business case. If you look at the economics of a facility, we've built the Calgary facility. It's up and operating. We've done a chunk of de-bottlenecking. We've done a chunk of sorting out the operation with respect to the front end, and in terms of material handling. We're very confident about the CAD 25 million CapEx for the new facility. We think we really understand the fundamentals of the front to back production and the capital required to do that. If we build a 40,000 ton facility, that will kick out a revenue of about CAD 10 million per annum and an EBITDA of about CAD 5 million. If we build an 80,000 ton facility, so we divert 80,000 tons of shingles away from landfill, that'll kick out a revenue of about CAD 20 million and an EBITDA of just over CAD 10 million. The important thing about this is we don't need to spend more capital to build the 80,000 ton facility. It's literally just how long you can run it. The 40,000 ton facility is the six days a week, 150 tons a day, kind of like 10 hours a day. And 80,000 ton is the same facility. You just run it with a night shift as well and run two shifts. That is the difference between kind of the base case and the upside case. I will not go into this in detail, but basically, if you look at our feedstock supply for Calgary, if you look at our offtake, in every city, we are talking to local shingle suppliers. We are talking to Ecco Recycling, or an industrial collector. We are talking to the industrial collectors. And one of the best things we have about Calgary is for the next five years, all the shingles collected at Calgary's landfills will come to Northstar and of course, with a tipping fee paid. Calgary has got a five-year offtake agreement with McAsphalt to take all of the asphalt that is produced. And actually, most important from a technology perspective, as I said earlier, the asphalt that we produce is circular. What that means is it can go into roof building, it can go into flat roofing, but it can also go into shingle manufacturing. And TAMKO, the big U.S. shingle manufacturer, they have determined that that is exactly what it can do. So they have done the R&D to prove that the asphalt is circular. And the other thing that is important, of course, for any kind of first-of-its-kind facility is that are the financial partners. We have the strategic agreement with TAMKO. So TAMKO owns approximately 20% of Northstar as a major strategic partner. They put in third equity in the first phase and then have had follow-on phases of debentures. We have a royalty agreement with CVW Sustainable Royalties, and also we were able to secure provincial funding, and that is a grant that came in from Emissions Reduction Alberta. And that is really important because there were four milestones. So essentially engineering, construction, commissioning, and we have literally just hit, in July, the operational milestone. Again, independent validation of Milestone four, and approved and paid for by Emissions Reduction Alberta. The most important thing, again, from our perspective is, as you think about startups, you have got to build your pilot plant, then you have got to fund your first commercial facility. And ours is not only funded, but it is constructed. You can see October 2024 and then into 2025, we constructed. We commissioned in the second half of last year, some of the stages as we went through commissioning, and now the facility is operating. The de-risking of the technology is being completed. As we came into 2025, we identified a number of issues with the plant that have now been sorted, and now we have front to back production from shingles going in the front end to asphalt coming out the back. So we are in an absolute inflection and tipping point. Demonstrating that Calgary is operating and moving towards cash flow breakeven and EBITDA is the focus for end of 2026 and end of 2027. And then the next two facilities have been identified, Hamilton near Toronto, in Canada, and the first U.S. facility, which is critical, which is Baltimore. And if you look at our framework for expansion, the three things we look at is the city big enough for us to have an 80,000 ton a year facility? What is the asphalt pricing and what are the tipping fees? One of the things that we have with TAMKO is an MOU whereby they will have offtake from the first four U.S. facilities. As you can see here, we had Calgary, we had the pilot plant at Vancouver, and we had Hamilton. Those are the next Canadian facilities. Then for the U.S., likely Baltimore, and you can see the TAMKO facility is close to Atlanta, Dallas, Fort Worth or San Antonio and KC or St. Louis. We have a pathway that is pretty clear in terms of the next steps. Our forecasted growth plan, we have identified more than 30 locations across North America that have got 24/7 potential, and some of those have got more than 24/7 potential. That enables us, in terms of the strategic view, to think about building three facilities per year. I mean, of course, we have to ensure Calgary is up and running and is demonstrating that we have solved the technology, cash flow breakeven, EBITDA positive, et cetera. That is the launchpad. That is exactly why we are at an absolute tipping point to move into this expansion plan. Adam, I am sure I would be remiss if all the CEOs that come on do not tell you how we are going to get to a billion-dollar valuation. For us, actually, the pathway is pretty clear. CAD 25 million, and again, we have validated that number, CAD 25 million to build a facility. Assume we build and run an 80,000 tons per year, kicks out an EBITDA of around CAD 10 million. If we use a relatively conservative multiple of 10 times for the waste of value space, that adds CAD 100 million worth of BV every time we build a new plant. What I need to do is I need to build 10 facilities, and then I deliver as my arm wavy CEO, a CAD 1 billion valuation. Really that is the pathway. We are a waste of value company. We have got a high margin model, we have got patented technology, and we believe we have got a very firm roadmap to CAD 1 billion. Great. Thank you, Aidan. Thank you for everyone for watching. If you have any questions or would like to schedule a meeting with Northstar Clean Technologies, please send me an email at loewenstein@lythampartners.com. If you would like to learn more about Lytham Partners, you can visit our website at lythampartners.com or follow us on LinkedIn to stay connected about future events. We hope you all enjoy the rest of your conference, and have a great day.