Alcoa Corporation

Good afternoon and welcome to the Alcoa Corporation first quarter 2025 earnings presentation and conference call. All participants will be in listen only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your phone. To withdraw your question, please press star, then two. Please note, this event is being recorded. I would now like to send the conference over to Louis Langlois, Senior Vice President of Treasury and Capital Markets. Please go ahead.

Thank you, and good day, everyone. I'm joined today by William Oblinger, Alcoa Corporation President and Chief Executive Officer, and Molly Bierman, Executive Vice President and Chief Financial Officer. We will take your questions after comments by Bill and Molly. As a reminder, today's discussion will contain forward-looking statements relating to future events and expectations that are subject to various assumptions and caveats. Factors that may cause the company's actual results to differ materially from these statements are included in today's presentation and in our SEC filings. In addition, we have included some non-GAAP financial measures in this presentation. For historical non-GAAP financial measures, reconciliations to the most directly comparable GAAP financial measures can be found in the appendix to today's presentation. We have not presented quantitative reconciliations of certain forward-looking non-GAAP financial measures for reasons noted on this slide. Any reference in our discussion today to EBITDA means adjusted EBITDA. Finally, as previously announced, the earnings press release and slide presentation are available on our website. Now, I'd like to turn over the call to Bill.

Thanks, Louis, and welcome to our first quarter 2025 earnings conference call. Alcoa had strong first quarter financial and production results. We maintained a fast pace of execution on our priorities despite economic uncertainty while progressing operational excellence through safety, stability, and continuous improvement. Underlying the strength of our performance were positive market conditions. Let's start with safety. First and foremost, a strong safety culture supports operational excellence. We had no fatal or serious injuries in the first quarter, and we continue to improve our safety performance. Operational stability is shown by solid production, where the majority of our operations improve sequentially on a tons-per-day basis. We also continue to improve stability at the IMR shelter in Brazil, currently operating at approximately 91% capacity. We completed a $1 billion debt offering in Australia, using most of the proceeds to repay existing debt. The new debt has extended the maturities at a lower after-tax interest expense than our previously outstanding debt. Lastly, we formed a joint venture with Ignis EQT for our San Ciprian operations, and are now resuming production at the smelter in accordance with the viability agreement. Now I'll turn it over to Molly to take us through the strong financial results.