H2O America

Good day, everyone, and thank you for standing by. Welcome to H2O America 2026 Second Quarter Financial Results Call. At this time, all participants are in a listen-only mode. After the presentation, there will be a question and answer session. And to participate, you will need to press star 11 on your telephone. You will then hear a message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. Now it's my pleasure to hand the conference over to Jonathan Reeder.

Thank you, Operator. Welcome to the second quarter of 2026 Financial Results Conference Call for H2O America. My name is Jonathan Reeder, and I am the Senior Director of Treasury and Investor Relations for H2O America. Presenting today will be Andrew Walters, Chair of the Board and Chief Executive Officer, Ann Kelly, Chief Financial Officer and Treasurer, and Bruce Hauk, President and Chief Operating Officer. For those who would like to follow along, slides accompanying our remarks are available on our website at h2o-america.com. Before we begin today, I would like to remind you that this presentation and related materials posted on our website may contain forward-looking statements. These statements are based on estimates and assumptions made by the company in light of its experience, historical trends, current conditions and expected future results. as well as other factors that the company believes are appropriate under the circumstances. Many factors could cause the company's actual results and performance to differ materially from those expressed or implied by the forward-looking statements. For a description of some of the factors that could cause actual results to be different from statements in this presentation, we refer you to the financial results press release and to our most recent forms 10-K, 10-Q, and 8-K filed with the Securities and Exchange Commission, copies of which may be obtained on our website. All forward-looking statements are made as of today and H2O America disclaims any duty to update or revise such statements. You will have an opportunity to ask questions at the end of the presentation. This webcast is being recorded and as an archive of the webcast will be available until October 27, 2026. You can access the press release and the webcast at H2O America's website. In addition, some of the information discussed today includes the non-GAAP financial measures of adjusted net income and adjusted diluted earnings per share. that have not been calculated in accordance with generally accepted accounting principles in the United States or GAAP. These non-GAAP financial measures should be considered as a supplement to the financial information prepared on a GAAP basis rather than an alternative to the respective GAAP financial measures. Reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the table in the appendix of our presentation. I will now turn the call over to Andrew.

Andrew Walters Welcome, everyone, and thank you for joining us today. We are pleased to provide you with an update on our strong second quarter 2026 results during which we earned 62 cents per share on a GAAP diluted basis and 72 cents per share on an adjusted diluted basis. This brings our year to date 2026 earnings per share to $1.12 on a GAAP diluted basis and $1.23 per share on an adjusted diluted basis. Our results during the first half of 2026 were consistent with our internal expectations and supportive of both our standalone 2026 adjusted diluted EPS guidance of $3.08 to $3.18, as well as our long-term EPS CAGR target of 6% to 8%. We also remain steadfast in our commitment to deliver on our 2026 to 2030 plan. Before I ask Ann to discuss our financial results in more detail, I want to provide everyone with a brief update on a few of the higher profile elements of our strategy to grow the business and create shareholder value. We plan to do this by making the much needed water infrastructure investments across our national footprint of systems while constructively engaging our key local stakeholders in a consensus building process to provide timely regulatory recovery while maintaining customer affordability. Our teams are executing on the regulatory front as well as have been busy working to secure rate recognition of the infrastructure investments that are needed to provide our customers with the high quality, reliable service they deserve. This includes leveraging infrastructure investment mechanism recoveries in Connecticut, Maine, and Texas as well as filing for recovery of our PFAS remediation project in California. In addition, a great deal of thought and effort went into preparing the general rate case filings, or GRCs, that we made in Connecticut and Maine during the second quarter. It is relatively early in the process, but we anticipate being able to achieve constructive outcomes in both GRCs. I'm also excited to report that we are making good progress towards receiving P-U-C-T approval of the QuadVest LP sale transfer merger application. And we anticipate closing the acquisition of QuadVest around the end of the third quarter or early fourth quarter. Our teams are gearing up for the close and integration of QuadVest into Texas Water Company later this year and delivering on the anticipated accretion beginning in 2028. Bruce will provide more detailed updates on the pending QuadVest and Cibolo Valley transactions as well as some of our other key regulatory developments later in the call. But for now, I will turn it over to Ann to provide details on our second quarter 2026 financial results and key elements of our five-year financial plan. Ann.