Kaiser Aluminum Corporation

If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Kim Orlando, with Addo Investor Relations. Please go ahead.

Thank you. Hello, everyone, and welcome to Kaiser Aluminum's fourth quarter and full year 2024 earnings conference call. If you have not seen a copy of our earnings release, please visit the investor relations page of our website at kaiseraluminum.com. We have also posted a PDF version of the slide presentation for this call. Joining me on the call today are Chairman, President, and Chief Executive Officer Keith Harvey and Executive Vice President and Chief Financial Officer Neil West. Before we begin, I'd like to refer you to the first four slides of our presentation and remind you that the statements made by management and the information contained in this presentation that constitute forward-looking statements are based on management's current expectations. For a summary of specific risk factors that could cause results to differ materially from the forward-looking statements, please refer to the company's earnings release and reports filed with the Securities and Exchange Commission, including the company's annual report on Form 10-K for the full year ended December 31st, 2023. The company undertakes no duty to update any forward-looking statements to conform the statement to actual results or changes in the company's expectations. In addition, we have included non-GAAP financial information in our discussion. Reconciliations to the most comparable GAAP financial measures are included in the earnings release and in the appendix of the presentation. Reconciliations of certain forward-looking, non-GAAP financial measures to comparable GAAP financial measures are not provided because certain items required for such reconciliations are outside of our control and or cannot be reasonably predicted or provided without unreasonable effort. Any reference to EBITDA in our discussion today means adjusted EBITDA, which excludes non-run rate items for which we have provided reconciliations in the appendix. Further, slide 5 contains definitions of terms and measures that will be commonly used throughout today's presentation. At the conclusion of the company's presentations, we will open up the call for questions. I would now like to turn the call over to Keith Harvey. Keith?

Thanks, Kim, and thank you all for joining us for review of our fourth quarter and full year 2024 results. Turning to slide seven. Our results for the year met our expectations for both conversion revenue and margin expansion. This was our second consecutive year of EBITDA margin expansion, increasing by approximately 60 basis points year over year. More notably, it has expanded by 460 basis points since the low established during the pandemic in 2022. In 2025, we expect to continue our progress towards achieving our EBITDA margin goals in the mid-20% range, which I will describe later. The market backdrop in 2024, really since the start of the pandemic, has been complex and rapidly changing. I'm extremely proud of the work our team has done to position the company for an inflection in our performance while maintaining our unwavering focus on execution on our longstanding commitment to meet our customers' needs, a foundational element of our business. There were challenges in each of our end markets in 2024, particularly in packaging, as we worked hard to meet the strong demand of our customers. As a result, we are bringing significant investments online this year to meet this growing demand, along with other investments across our portfolio, of which I'll have more details to discuss later in the call. We expect market conditions to stabilize and become more favorable as we move through 2025 and believe the momentum we have been building over the last several years puts Kaiser in a very strong position for the future. Now let me turn the call over to Neil for more details on our 2024 results. Neil?