Good morning and welcome to Emerald Holding Incorporated First Quarter 2021 Earnings Conference Call. During today's call, all parties will be in a listen-only mode. Following the prepared remarks, the conference will be opened for questions with instructions to follow at that time. Before we begin let me remind everyone that this call may contain certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These include remarks about future expectations, beliefs, estimates, plans and prospects. Such statements are subject to [risks], uncertainties and other factors that could cause actual results to differ materially from those indicated or implied by such statement. Such risks and other factors are set forth in the company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The company does not undertake any duty to update such forward-looking statements. Additionally, during today's call, management will discuss non-GAAP measures which it believes can be useful in evaluating the company's performance. The presentation of this additional information should not be considered in isolation or as a substitute for results in prepared accordance with U.S. GAAP. A reconciliation of these non-GAAP measures to the most comparable GAAP measures can be found in the company's earnings release. As a reminder, this conference is being recorded and a replay of this call will be available on the Investors section of the company's website through 11:59 PM Eastern Time on May 7, 2021. I would now like to turn the call over to Hervé Sedky, President and Chief Executive Officer. Please go ahead sir. Hervé Sedky: Thank you and good morning everyone. On today’s call, I'll provide an update on our event schedule for the balance of the year, as well as our progress executing on our strategic…

Thank you, Hervé and good morning. For the first quarter, we reported revenues of $12.9 million, which compares to $99.7 million in the year ago quarter. The decrease was primarily due to the cancellation of almost all first quarter events due to COVID-19, including KBIS, New York Now Winter, Outdoor Retailer Snow Show, ISS Long and the Sports Licensing and Tailgate Show, which resulted in a reduction of $70.8 million of first quarter 2020 revenue. We have also rescheduled several shows to later in the year, comprising $12.2 million of first quarter 2020 revenue. During the first quarter, we were able to successfully stage Surf Expo Winter in Orlando, Florida, where we experienced a more than 50% decline in revenues. As Hervé mentioned, the number of buyers per exhibitor increased as compared to pre-COVID levels, which drove the strong rise in exhibitor satisfaction, our customer’s satisfaction with Surf Expo demonstrates the value of in-person face-to-face events, which is so important to our customers businesses. Our adjusted EBITDA for the first quarter was negative $2.7 million as compared to positive $23.6 million in the same period last year. Decrease in adjusted EBITDA of $26.3 million was mainly due to the COVID-related cancellation of 13 first quarter events representing prior year first quarter adjusted EBITDA of $39.7 million, and the postponement of 10 first quarter 2020 events, representing prior year first quarter adjusted EBITDA of $5.5 million. This was offset by the recognition of $14.1 million in other income related to event cancellation insurance claim proceeds received or confirmed. First quarter 2021 adjusted EBITDA also reflected the benefit of cost savings measures that we have implemented over the last 12 months. Looking at our event cancellation insurance in more detail, we have submitted $220 million in claims to date. We also continue…

Hervé Sedky: Great, thank you very much [Alex]. Building on this strong foundation over the past year provides us with this exciting opportunity here at Emerald to return to live events. We feel very, very good about the position that we're in, excited about the near and long-term. And I want to thank you for your time today.

This concludes today's conference and you may disconnect your lines at this time. Thank you for your participation and have a great day.