Innospec Inc.

Good day and thank you for standing by. Welcome to the Innerspec's first quarter 2026 earnings release and conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you need to press star 1 1 on your telephone keypad. You will hear an automatic message advising your hand is raised. To withdraw a question, please press star 1 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our first speaker today, David Jones, General Counsel and Chief Compliance Officer. Please go ahead, Sam.

Thank you. Welcome to InnoSpec's first quarter earnings call. This is David Jones. I'm InnoSpec's General Counsel and Chief Compliance Officer. The earnings released for the quarter in this presentation are posted on the company's website. During this call, we will make four specific statements, which are predictions about future events. These statements are based on current expectations and assumptions that are subject to risk, and uncertainties that could cause actual results to differ from the anticipated results implied by such forward-looking statements. These risks and uncertainties are detailed in InnoSpec's 10-K, 10-Qs, and other filings with the SEC. Please see the SEC site and InnoSpec site for these and related documents. In today's presentation, we've also included non-GAAP financial measures. A reconciliation to the most directly comparable GAAP financial measure is contained in the earnings release. Non-GAAP financial measures should not be considered as a substitute for or superior to those prepared in accordance with GAAP. They're included to aid investor understanding of the company's performance in addition to the impact that these items and events had on financial results. With me today from Inispec are Patrick Williams, President and Chief Executive Officer, and Ian Clementson, Executive Vice President and Chief Financial Officer. And with that, I turn it over to you, Patrick.

Thank you, David. And welcome, everyone, to Inispec's first quarter 2026 conference call. Before discussing the results, I want to recognize the focus and determination being demonstrated by our employees around the world, and especially those in the Middle East. Volatile environments like this bring a unique set of challenges and opportunities. We are seeing increased chances to deliver innovative solutions and security of supply to all our customers when we continue to execute on these initiatives. This was a mixed quarter for an aspect with continued strong results in fuel specialties, partially offsetting the impacts of the January 2026 U.S. winter storm, which affected performance chemicals in oilfield services. Performance chemical sales were broadly flat with last year. The margins and operating income were significantly impacted by the shutdown of our North Carolina plants due to the U.S. winter storm. we are continuing to prioritize plant repairs in order to meet customer requirements. Additionally, and without slowing the pace of these critical plant repairs, we have elected to pull forward multiple plant optimization projects, which will drive long-term benefits. In parallel, we continue to execute on a range of top line and margin opportunities identified in the business, which we expect to drive sequential growth in the second quarter. Fuel Specialties had another strong quarter with sales growth and margins that remained at the upper end of our target range. The business has continued to deliver consistent, strong results through a range of economic cycles. With a diverse pipeline of non-fuel opportunities across all regions, we expect a continued strong performance in this business. Oilfield services operating income and margins improved on the prior year, but sequential results were impacted by the U.S. winter storm. While the Middle East conflict may delay some activity in the region, it is also creating new opportunities, which we are aggressively pursuing. In parallel, we remain focused on driving incremental growth from our recent DRA expansion and other opportunities in our completions and production segments. We are cautiously optimistic that this combination will deliver sequential operating improvement in the second quarter and leave us well positioned for further improvement in the second half of 2026. Now I will turn the call over to Ian Clemson, who will review our financial results in more detail. Then I will return with some concluding comments. After that, Ian and I will take your questions. Ian? Thanks, Patrick.