Good afternoon, ladies and gentlemen. We're going to start our committee meeting right now. We have a slightly condensed meeting today. The bells will ring at a quarter after five and the votes will take place some time after that. We're going to have to condense each panel by about seven minutes to fit everything in. Also, to make sure that we get our normal rounds of questions in I think we should go from seven-minute questions to five-minute questions, just to make sure everybody gets a chance.
We have two people here by video conference, Ms. Bray and Ms. Nicol. Seeing you're here through our technology, we'll have you go first.
Ms. Bray, you can present first, and then Ms. Nicol, you'll go after Ms. Bray.
Go ahead.