Copper Property CTL Pass Through Trust ($CPPTL)

Good morning, ladies and gentlemen, and welcome to the Copper Property CTL Pass Through Trust conference call. [Operator Instructions] Please note that today's conference call is being recorded with an online replay available 1 hour after the conclusion of this call. Additional information can be found on the Investors section of the company website at ctltrust.net. After our speakers' remarks, there will be a question-and-answer period. [Operator Instructions] I will now turn the conference over to the Trust Investor Relations representative, Jessica Cummins.

Good morning, everyone. Welcome to the Copper Property CTL Pass Through Trust Conference Call. Over the past week, the trust filed with the SEC an 8-K containing its February 2026 monthly reporting package and its annual report on Form 10-K for the period ended December 31, 2025, both of which are available online at ctltrust.net. On the call today, Neil Aaronson, the Trust's Principal Executive Officer; and Larry Finger, its Principal Financial Officer, will discuss these filings. In addition, a representative from GLAS, our trustee will be available to answer questions. Please note that during this conference call, some of the comments will be forward-looking statements. All statements other than statements of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking terminologies such as anticipate, believe, continue, could, estimate, expect, intend, may, might, our vision, plan, potential, preliminary, predict, should, will or would, or the negative thereof or other variations thereof, or comparable terminology and include, but are not limited to, the Trust's expectations or beliefs concerning future events and stock price performance. The Trust has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Trust believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including those discussed in the Trust's registration statement on Form 10 filed with the Securities and Exchange Commission may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Trust's filings with the SEC that are available at www.sec.gov and on our website. As such, it is important to note that management's comments include time-sensitive information that may only be accurate as of today's date, Friday, March 13, 2026. [Operator Instructions] I will now turn the call over to our Principal Executive Officer, Neil Aaronson.

Thank you, Jessica. Good morning, everyone, and thank you for joining our call. As we've previously announced, we terminated the purchase and sale agreement with Onyx on December 26. We did this because the outside closing date under the PSA has passed, and Onyx did not come to the closing table with the required funds. Also on December 26, Onyx filed a complaint seeking specific performance of $200 million in damages. We believe their claims are without merit, and we do not have a right to specific performance or damages. On February 10, we filed a motion to dismiss all of their claims. With that, I'll turn the call over to Larry.

Thanks, Neil. Including the distribution we made earlier this week. To date, we distributed $1.5 billion that represents sales distributions of $1.1 billion and rental income distributions of $400 million. Subject to the impact of sales, monthly distributions from operations are expected to be between $6 million and $7 million or between $0.08 and $0.093 per certificate. This will be supplemented by net sales proceeds as they occur. With that, we'll open the call to questions.

[Operator Instructions] Thank you. There are no questions at this time. I would like to hand the floor back over to management for any closing remarks.

Once again, we'd like to thank you for joining the Copper Property CTL Pass Through Trust call, and we look forward to speaking to you at our next call, and we appreciate your continued interest in Copper Property CTL Pass Through Trust. Thank you, everyone.

This concludes today's conference. You may disconnect your lines at this time. Thank you for your participation.