 Hello, everybody. So I'm here today to talk to you about how babies are made. Not that kind of baby making, saw you. This kind of baby making, so fertility treatment. And I'm going to talk to you today about how fertility treatment, as we approach it today, is completely broken. So Leah. Leah and her partner, I'm going to tell you a story about them. They decided to start a family about a year and a half ago, decided that they wanted to get pregnant. Now, they're still not pregnant. And what started as really the most exciting decision you can make as a couple, as an individual to have a baby, has become a living nightmare. Now, I'm pretty sure that there's a few of you in this audience, or there's many, many, many of you in this conference, who are living some version of Leah's story, on some level, every month, you're taking a pregnancy test. It's negative. Again, why? Your doctor's not helping. You're desperate. The reason I know that quite a few people are living some version of this story is because according to the World Health Organization, there are 186 million people in the world with infertility. Now, the global prevalence works out to about 17.5%. To put that into context, the global prevalence of cancer is 1.3%, 1.3%. So I really believe that infertility is the biggest human health crisis of our time. It's costing us our relationships. It's costing us our savings accounts. And it's costing us our sanity. You might think, we've got IVF. We've got a miracle treatment that helps people conceive. But just in your head, in a world where 186 million people worldwide are struggling with infertility, how many rounds of IVF do you think are carried out each year? Just hold a number in your head. 2.5, 2.5 million rounds of IVF. And what this means is that 98.7% of people with this problem are not accessing this gold standard medical treatment. It is tragic for people like Leah, for anyone like this in the audience who's struggling with infertility. It's why we built Bayer. Now Bayer Fertility is a modern approach to fertility care. What we have done is take hardware and software and combine it into a clinical-grade fertility treatment that we ship straight to your front door. What we do is we start with the clinical services. We merge it with patented medical hardware that we've been developing for two years. And then our clinical team, featuring Sandy, deliver care to our Bayer users. Since we launched in the UK in June, about 10,000 people have completed a fertility assessment. Our hardware is in the hands of about 300 families. And Sandy and her team are delivering guidance and coaching and support to our Bayer users every single day. Now, it wouldn't be me if I didn't have a uterus in my deck. So I had to feature this. The science behind Bayer is very simple. It is intracervical insemination, ICI, a pretty old clinical treatment that used to exist up until IVF was commercialized in the late 70s. Now, ICI essentially involves placing a cervical cap containing semen onto the cervix, where it concentrates semen at the cervix by a factor of about three. It makes sense to bring ICI back because it works. We know from hundreds of peer-reviewed studies that intracervical insemination is almost as effective as clinical fertility treatment. It really is a simple, modern, non-invasive approach to fertility care. And it is an elegant solution for the 186 million people who are struggling within fertility today. Don't take it from me. Take it from the families who have been with Bayer since we launched in June. Pregnant. Fertility of fairy godmothers. Pregnant. Never felt more supported. These are users who, before we launched and came along, felt they had no choices. Couldn't access IVF. Couldn't afford it. What we are doing at Bayer Fertility is rewriting the fertility care pathway. And we're doing that by creating a new category in this industry called primary fertility care. Now, we know from the data that around 50% half of people within fertility will eventually get pregnant with the help of simple support and simple intervention. Now, in a world where we have IVF, the simple intervention that we are bringing back is primary fertility care. It bridges the gap between intercourse at home and walking through the doors of a fertility clinic. Primary fertility care is for anyone who's struggling at home but just isn't ready for IVF, can't afford IVF, doesn't wanna go through it. It is a simple, simple care pathway that addresses the many, not the few. It's also $38 billion opportunity and I think it's incredibly undervalued. So, as with everything at Bayer, we start all of our biggest, boldest missions with a real human, featuring Sandy again. We develop specialist fertility support services, medical devices and treatments and at the core of everything we do is a human. Now, we scale Sandy with AI, we call her Sandy AI and this allows us to provide an incredibly rich treatment experience to our users that we can scale across countries overnight. Now, AI can do a lot of things and if we sort of walk around here, you can see quite how much AI can do but AI still can't unfortunately, sorry, get you pregnant. So what we do is create medical hardware, treatment that we put in your hands for you to take control of your fertility. Finally, it's a really lonely journey. If you've been on it, you'll know. So we support everything with community. It's all about support. It's all about surrounding you with the right people on your care journey. Real humans augmented by AI with physical treatments held by community. This is a primary care pathway. This is how we envisage the fertility care pathway. I'm gonna come back to Leah. Leah is, she's actually a Bayer user. So she started her care pathway with Bayer over the summer and Leah is pregnant. She conceived in her first cycle with Bayer over the summer. And I think what this says is, Leah really is, she's just the beginning for us. You know, thanks to the work that we are doing in this category, Leah and so many others finally can access the fertility care they need to build the family that they deserve. Thank you.