Thank you for joining Reading International's earnings call to discuss our 2022 second quarter results. My name is Andrzej Matyczynski, and I am Reading's Executive Vice President of Global Operations. With me, as usual, are Ellen Cotter, our President and Chief Executive Officer; and Gilbert Avanes, our Executive Vice President, Chief Financial Officer and Treasurer. Before we begin the substance of the call, I will try to run through the usual caveats. In accordance with the safe harbor provision of the Private Securities Litigation Reform Act of 1995, certain matters addressed in this earnings call may constitute forward-looking statements. Such statements are subject to risks, uncertainties and other factors that may cause our actual performance to be materially different from the performance indicated or implied by such statements. Such risk factors are clearly set out in our SEC filings. We undertake no obligation to publicly update or revise any forward-looking statements. In addition, we will discuss non-GAAP financial measures on this call. Reconciliations and definitions of non-GAAP financial measures, which are segment operating income, EBITDA and adjusted EBITDA, are included in our recently issued 2022 second quarter earnings release on our company's website. We have adjusted, where applicable, the EBITDA items we believe to be external to our business and not reflective of our cost of doing business or results of operation. Such costs include legal expenses relating to extraordinary litigation and any other items that can be considered nonrecurring in accordance with the two-year SEC requirement for determining an item is nonrecurring, infrequent or unusual in nature. We believe adjusted EBITDA is an important supplemental measure of our performance. In today's call, we also use an industry accepted financial measure called theater level cash flow, TLCF, which is theater-level revenue less direct theater-level expenses. We will also use a measure referred to as food and beverage, F&B, spend per patron, SPP, which is a key performance indicator for our cinemas. The F&B SPP is calculated by dividing a cinema's revenues generated by food and beverage sales by the number of admissions at that cinema. Please note that our comments are necessarily summary in nature. And anything we say is qualified by the more detailed disclosure set forth in our Form 10-Q and other filings with the US Securities and Exchange Commission. So with that behind us, I'll turn it over to Ellen, who will review our 2022 second quarter results and discuss our strategies for navigating Reading through the post-COVID operating landscape. And then Gilbert will provide a more detailed financial review. Ellen?

Thank you, Andrzej, and thanks, everyone, for joining the call today. In the second quarter of 2022, Reading delivered dramatically improved operational results clearly signaling that our operational recovery from the pandemic is well underway. Our second quarter 2022 consolidated total revenues of $64.5 million, which nearly doubled from $36 million in Q2 2021, represented the highest quarterly revenue since the fourth quarter of 2019 and 85% of the second quarter of 2019. Our second quarter operating loss of $1.6 million was significantly better than any quarter since the onset of the pandemic. The $1.6 million operating loss represented an 87% improvement compared to the first quarter of 2022 and an 87% improvement compared to the second quarter of 2021. Also, if you exclude the $1.5 million impairment charge reflected on our Q2 2022 financials, our operations during the quarter would have essentially broken even. Our second quarter EBITDA of just under $7.7 million represents the first quarter since the onset of the pandemic that we delivered a healthy EBITDA driven purely by operational results, as opposed to previous pandemic quarters when our EBITDA was positively influenced by strategic and successful asset monetization. Recall that we monetized certain assets in the United States, Australia and New Zealand, unlocking book profit of $90.2 million and generating net cash of almost $142 million. The assets sold included non-income-producing land and where assets, which would not, in our view, have increased materially in value without investment of significant capital. And demonstrating the strength of our balance sheet as of June 30, 2022, we reported just under $50 million in cash and cash equivalents, which is a direct result of these sales. As you know, confronted by the elimination of most of our cinema cash flow in 2020, due to the devastating pandemic and with no hope for US Federal monetary assistance through the Shuttered Venue Operators Grant program due to our public company status, our Board and management chose to monetize these real estate assets in 2021, instead of diluting our stockholders with an equity raise or burdening our future foundation with higher debt loads. Clearly, our global cinema business, along with the rest of the industry rebounded strongly. At $61.8 million, our Q2 2022 global cinema revenue, which increased by 89% compared to Q2 2021, was the driver of our consolidated total revenue increase mentioned above and represented the highest quarterly cinema revenue since the fourth quarter of 2019 and 85% of cinema revenues for the same pre-pandemic period in 2019. Not only did the second quarter reflect a stellar lineup of commercial films, but it offered moviegoers an interesting mix of titles, attracting varied audiences back to the cinemas. Top Gun: Maverick has been a sensational hit for the industry and for us, especially in markets like San Diego, Hawaii and Australia. Franchise pictures like Doctor Strange in the Multiverse of Madness, Jurassic World: Dominion and Sonic the Hedgehog 2 performed well across our global circuit. Original and unique pictures like The Bad Guys, Elvis, The Lost City, The Black Phone and Everything Everywhere All at Once rounded out the theatrical slate and succeeded in bringing back different audiences to the cinema. And our second quarter 2022 cinema segment operating income of $3.5 million was the highest cinema segment operating income since the fourth quarter of 2019. Not only was our global cinema business reignited during the second quarter of 2022, Reading's real estate business also improved. Our Q2 2022 total real estate revenues increased by 17% to $4 million. During the second quarter of 2022, our two live theaters in New York City held public performances and substantially all of our 72 third-party tenants in Australia and New Zealand were either open or completing tenancy fit-out works. If you recall in January of 2022, our company executed its largest leasing transaction ever with the signing of a long-term lease with a strong credit international retailer for 3 levels of our 44 Union Square building in New York. During the second quarter, we progressed the tenant improvement phase and currently anticipate that the tenant will be open for business in early 2023 and anticipate cash rent starting to flow to the asset sometime during Q4, 2022. And we're currently reviewing term sheets provided by our broker CBRE, contemplating the lease of the remainder of the building. Our recent operational achievements and resilience through the darkest days of the pandemic can be attributed to our two business, three-country business strategy, which we strongly believe will continue building long-term value for our stockholders and support our future success. Although we would have preferred to hold all of our assets for future development, we monetized certain assets in 2021 to help our company through the worst times of the pandemic. As you can see from our recently filed quarterly reports, we believe we're on a path to recovery and have retained what we believe to be our most valuable key assets. Our future outlook remains optimistic. With respect to our global cinema business this past July was equally reassuring for us. During the first part of July 2022, two more blockbuster films were released, Minions, The Rise of Gru and Thor, Love and Thunder. On a functional currency basis, the attendance, total revenues and TLCF, theater-level cash flow for the month of July in each cinema division was the highest it's been since February of 2020. And while our August and September will, as has historically been the case, be slower months at the box office, the fourth quarter should deliver a strong result for us with highly anticipated features like Avatar 2, The Way of Water, Halloween End, Marvel's Black Panther, Wakanda Forever, DC Comics, Shazam, Fury of the Gods and Black Adam and Disney’s Strange World.

Thank you, Ellen. Consolidated revenues for the second quarter of 2022 increased by 79% to $64.5 million when compared to the same period last year, which is 85% of the comparable 2019 pre-pandemic revenue for the same quarter. Consolidated revenues for the six months ended June 30, 2022, increased by 83% to $104.7 million when compared to the same period last year, which is 76% of comparable 2019 pre-pandemic revenue for the six month period. These increases were attributable to a stronger film slate as well as substantially all of our cinema operation during the first six months of 2022, compared to the same period in 2021, when a portion of our cinemas were closed due to local government COVID mandates for part of our reporting period. Net income attributable to our company for the quarter ended June 30, 2022, decreased by $25.1 million to a loss of $2.4 million when compared to the same period in 2021. Basic loss per share was $0.11 for the quarter ended June 30, 2022, compared to a basic earnings per share of $1.04 for the quarter ended June 30, 2021. This was due to a $43.2 million gain on sale of assets during the same quarter of the prior year. Net income attributable to Reading International Inc. for the six months ended June 30, 2022, decreased by $59.5 million to a loss of $17.8 million when compared to the same period in 2021. Basic loss per share was $0.81 for the six months ended June 30, 2022, compared to a basic earnings per share of $1.91 for the six months ended June 30, 2021. This was due to $89.8 million gain on sale of assets during the same six months of the prior year. These changes are largely due to prior period profit from our asset monetization that did not occur for the quarter and six months ended June 30, 2022, partially offset by our increased cinema income, decreased tax expenses and positive foreign exchange rate impact from New Zealand and Australia. For the second quarter of 2022, income tax expense decreased by $4 million to $1.5 million compared to the equivalent prior year period. For the six months ended June 30, 2022, income tax expense decreased by $12.1 million to $1.2 million compared to the equivalent prior year period. The change between 2022 and 2021 is primarily due to monetization of assets in 2021. Non-segment G&A expense for the quarter ended June 30, 2022, increased by $0.9 million to $4.7 million compared to the prior year period and for the six months ended June 30, 2022, it increased by $1.2 million to $9.1 million compared to the prior year period. These increases were attributable to increased legal fees, professional and outside services and salaries and wages. Turning now to our cash flow. For the six months ended June 30, 2022, net cash used in operating activities increased by $11.6 million to $17.6 million, when compared to the same period in 2021. This was driven by a $39 million increase in net change in operating assets and liabilities, primarily resulting from taxes payable and accounts payable, offset by a $27.4 million decrease mainly attributable to improved cinema operating performance. Cash used in investing activities during the six months ended June 30, 2022, increased by $140.6 million to $3.7 million, mainly related to the proceeds from monetization of assets in 2021 that did not occur in Q2 2022. Cash used in financing activities decreased by $32.6 million to $4.2 million, during the six months ended June 30, 2022, primarily due to using proceeds from asset sales to pay down debt, as well as paying off non-controlling interest in 2021. Shifting to our financial position. Our total assets in June 30, 2022 were $627.6 million compared to $687.7 million on December 31, 2021. The $60.1 million reduction was primarily driven by a decline in cash and cash equivalents by which we funded our ongoing business operations and pay down debt. As of June 30, 2022, our total outstanding borrowings were $228.6 million compared to $236.9 million on December 31, 2021. This decrease was due to pay down of debt and foreign exchange rate impact. Our cash and cash equivalents as of June 30, 2022 were $49.9 million. We are currently in compliance with our loan covenants. We continue to be in compliance with the terms of our loan agreements, without the need for additional loan modifications. We believe that our lenders understand that the current situation relating to the COVID-19 pandemic is not of our making and that we are doing everything we can to deliver our strategic priorities. We feel that we are continuing to have good relationships with our lenders. We did not repurchase any shares in the second quarter of 2022 and due to the COVID-19 pandemic and its impact on our overall liquidity, our stock repurchase program has and will likely continue to take a lower capital allocation priority for the foreseeable future.

Thanks, Gilbert. As usual, I'd like to thank our stockholders for forwarding questions to our Investor Relations e-mail. And as normal, we've addressed some of your questions in Ellen's prepared remarks, but we've compiled a set of five questions e-mailed to us that we'll address now. First question being what are you seeing in terms of inflation and wage pressure? Ellen?

Inflation has definitely impacted all of our operational divisions. Most importantly, in our global cinemas, labor expense and F&B costs have gone up when you compare the second quarter of 2022 to a pre-pandemic period like Q2 of 2019. Likewise, for this period, each country's average ticket price and SPP increased due to strategic ticket and concession price increases. But we've calibrated the increases to not have a deterrent impact. For instance, in the US, while it might be more expensive to see a highly anticipated blockbuster in the first week on a TITAN screen, we're also providing more discounts through the week. For example, the recently launched Angelika membership program offers half of Tuesday or 50% off every ticket type on Tuesdays. The component of the membership program has proven to be really effective at driving incrementally more weekday attendance. And in Australia and New Zealand, our strategic price increases are consistent with our value pricing foundational philosophy. On the wage pressure, like other retailers across the globe, staffing has been a challenge across all of our operating divisions. Not only are wages increasing, but staffing in general is more difficult. Again, if you compare the second quarter of 2022 to the second quarter of 2019, our labor per capita have gone up by over 20%. With this new headwind, it's really forcing our teams to think more strategically. For instance, we're taking better advantage of new technology and software programs to staff more precisely and we're improving our online ordering functionality to drive guests to order and buy both tickets and F&B online in advance to improve our staffing efficiencies. Also, we continue to focus on booking creative events and programs to expand attendance and improve sales during traditionally slower points during the week when we have minimum staffing. On a final note, for decades, our industry has argued that movie theaters are recession-proof. Going to the movies was always and continues to be a reasonably priced form of entertainment for your family and friends. I think this most recent period bears out that old adage again. Over the last few months, despite some price increases, audiences have returned in record numbers to see top-notch entertainment like Top Gun, Minions, Sonic and Doctor Strange.

Thanks, Ellen. With the sizable BofA US term loan and now the Cinemas 1,2 and 3 Term Loan, newly reclassified to course current liabilities to substantially increase. What is the timing and status of paying off or replacing this loan with longer-term financing? Gilbert?

The Cinemas 1,2,3 Term Loan has one additional six-month extension to be exercised, that will push out the loan maturity date to April 1, 2023. The Bank of America term loan with its scheduled principal payments will be maturing on March 6, 2023. As with all loans that come up for refinancing, we work diligently with the lenders and at the same time, reach out for competitive bids from other lenders for most of the beneficial long-term loan financing. We believe that our current financial position, forecast and cash flow estimate based on our current expectation of industry performance and recovery mean that our company has sufficient resources to meet its obligations as they become due.

Thanks, Gilbert. Can you field the next one? What was the US Cinemas that had a 1.5 million asset value impairment?

For strategic reasons, we do not want to specify what theaters are included in the impaired asset value. However, the impairment relates to three small US cinemas with contribution to the overall income of our US Cinema circuit being negligible. We'd like to work with the landlords of these cinemas to craft the strategy to reduce occupancy costs, so that they operate on a profitable basis. However, we can offer no assurance that we'll be successful in these negotiations.

Thanks, Gilbert. The fourth question. Can we get an update on pending applications for liquor licenses in the US, Australia and New Zealand? What is the timing for approval in these locations? How many more theaters would you like permits for? Ellen?

Across the globe, our ultimate goal is to offer liquor in all of our theaters where it makes sense for the surrounding community. With respect to our cinemas operating in the US, 74% offer liquor today. That's six out of eight theaters on the East Coast in Texas, five out of seven in California and six out of eight theaters in Hawaii. On the Mainland, California and in New York, we expect the four outstanding licenses, whether temporary or permanent, to be obtained before the end of 2022. The status of the remaining licenses in Hawaii is dependent on discussions with our landlords, so I can't estimate a timeframe for those. With respect to our cinemas in Australia and New Zealand, just under 60% offer liquor today. That is 18 out of 27 theaters in Australia and five out of 12 in New Zealand. Of the three liquor licenses pending, we expect to have all three before the end of 2022. And over the next few years, we'll be working on obtaining the remainder of the licenses again, if it makes sense for the surrounding community.

Thanks, Ellen. And I guess I'll field the last question, which is, it's clear that the cinema is going to fully recover. My question is on capital allocation. How does the company approach you? What better use of money is there than buying back shares at these prices? I understand that the two businesses, three-country, diversified structures got us through the COVID storm without dilution and leveraging the balance sheet. But the pandemic is over, and the time to act is now. Let's stop fighting the last war and look to the future and create more value than any property redevelopment has to offer by buying back a bunch of shares. Well, whilst we may agree on the sentiments expressed in the first part of the question, we still have to face the reality of the COVID effect, ebbing though it may be. Based on our reported numbers, we have supported our business in the first six months of 2022 to the tune of some $25 million excluding debt repayment and included what we would consider minimal investment in the CapEx needs of our business. We had a cash balance of approximately $50 million at June 30th. As stewards of our shareholders' money, we must firstly confirm what has so far been a strong recovery from the COVID era and avoid being placed in a position of either selling more assets, taking on expensive debt and/or diluting existing shareholders by using stock. Management reviews and discusses our cash position and capital allocations on an almost daily basis, and buying back a portion of our shares is certainly an option that forms part of those discussions. We work to balance the needs of the business so that there is a business to manage in the future against the opportunities afforded us based on the current stock price. Well, that marks the conclusion of the call. As always, we appreciate you listening to the call. Thank you for your attention and wish everyone good health and safety.