Loop Industries, Inc.

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Loop Industry's first quarter fiscal 2027 corporate update call. At this time, all participants are in a listen-only mode. Following management's prepared remarks, we will open the call for questions. If you'd like to ask a question during this time, simply press star followed by the number one on your telephone keypad. Please note this conference is being recorded today, Wednesday, July 15th, 2026. The earnings released accompanying today's call was issued after the market closed yesterday, Tuesday, July 14, 2026. Joining us on today's call are Daniel Solomita, Founder and Chief Executive Officer, Spencer Hart, Chief Financial Officer, and Kevin O'Dowd, Vice President, Communications and Investor Relations. I would now like to turn the call over to Kevin O'Dowd to read the disclaimer regarding four looking statements. Kevin, please go ahead.

Thank you, operator. Before we begin, I'd like to remind everyone that today's discussion will include forward-looking statements on the meaning of U.S. security laws. These statements reflect management's current expectations, beliefs, estimates, and projections regarding future events and operating performance, including in our commercialization activities, project development, financing initiatives, and other matters that are not historical facts. forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied. For more complete discussion of these risks and uncertainties, please refer to the risk factors and forward-looking statement sections of our most recent annual report on Form 10-K and our quarterly report on Form 10-Q filled yesterday. with the Securities and Exchange Commission in our earnings release issued yesterday. These documents are available on the SEC's website at www.sec.gov and on our investor relations sections in our website. With that, I'll turn the call over to Founder and Chief Executive Officer Daniel Solomita. Daniel?

Good morning, everyone. Thank you for taking the call or being on the call. Results not too long ago, so we'll give all updates we can on the Q1 release. We continue to make meaningful progress on our Infinite Loop India project with our joint venture partner, Esther Industries. As we've said in the past, the JVA hired KPMG to arrange the project debt for the joint venture. That process is going extremely well. We have received additional term sheets from new lenders. The consortium debt lenders are now beginning the next phase of the debt process, which includes the technical due diligence. So the debt is well underway and very confident that we'll be able to conclude the debt financing in the allotted time. We continue to advance on customer contracts. We have signed an LOI for 15,000 tons at a fixed price. The customer is a leading textile apparel brand company. They do not sign forward contracts. They're more spot buyers and maybe six-month contracts. They just do not sign long-term supply agreements. But they have agreed to sign a LOI with us to show support for the project and their intent to buy material from the project. Their total appetite is 90,000 KTA per year. This is an LOI for 15,000 at a fixed price. Like I said, they want to be helpful to the project and therefore they have even said that they're willing to talk to lenders if needed for the debt to help people understand their position and why they're signing an LOI rather than a full-blown off-take agreement. But we fully expect them to be a very meaningful customer for the project in the long term and to grow their volume larger over time. We are very confident in being able to execute additional customer contracts in the time required to complete debt financing. Our engineering is very far advanced. We recently have applied for subsidies from the state of Gujarat. The state of Gujarat just announced subsidies for clean technology projects in the area. So we have applied for the subsidy program. and our project would be eligible for approximately $28 million to be returned to the joint venture by the state of Gujarat over an eight-year period. So that just further enhances the financial viability and the financial returns for the project. So, you know, very encouraging sign for the project being able to secure the subsidies from the state of Gujarat. As far as our other project with the Reed Societe Generale Group licensing project, as you know, as we have mentioned in the past, Societe Generale has chosen a site in Schweitzer, Germany, which is owned by BASF. That's where they will be implementing the first Infinite Loop Europe project. We are currently in final negotiations with SOCGEN for the first phase of the engineering contract, which is scheduled to begin in September of this year. Loops engineering team will deliver a pre-seed engineering package for a 70,000 ton infinite loop plant built with modular construction. This is our first modular construction project, but this is definitely the roadmap for the future on how we bring low-cost manufacturing to the rest of the world. So what we've learned from our Indian project, how to bring down costs, We're going to be doing that in modular construction by building these plants in modules from India and then ship them on site to different regions of the world, which minimizes local labor rates. The engineering contract, this engineering contract, and the next phase of engineering, which would follow in the middle of 2027, will provide sufficient cash flow to fund these back office expenses for the foreseeable future. We are continuing to evaluate options for the financing of Loops Equity for the Indian joint venture. As always, we prioritize capital, which is non-dilutive in nature, and we aim to have this financing completed in the next few months in line with closing the debt financing. With that, I'll turn it over to Spencer Hart.