Alexander & Baldwin, Inc.

Good afternoon ladies and gentlemen and welcome to the first quarter 2025 Alexander and Baldwin earnings conference call. At this time all lines are in listen only mode. Following the presentation we will conduct question and answer session. If at any time during this call you require immediate assistance please press star and the number zero for the operator. This call is being recorded on Thursday, April 24, 2025. I would now like to turn the conference over to Alohi Chateau.

Please go ahead. Thank you, operator.

Aloha, and welcome to Alexander and Baldwin's first quarter 2025 earnings conference call. My name is Alohi Chateau, and I am a property manager at Alexander and Baldwin. With me today are A&B's Chief Executive Officer, Lance Parker, and Chief Financial Officer, Clayton Chun. We are also joined by Kit Millen, Senior Vice President of Asset Management, who is available to participate in the Q&A portion of the call. During our call, please refer to our first quarter 2025 financial presentation available on our website at investors.alexanderbaldwin.com slash events. Before we commence, please note that statements in this presentation that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding possible or assumed future results of operations, business strategies, growth opportunities, and competitive positions. Such forward-looking statements speak only as of the date the statements were made and are not guarantees of future performance. Forward-looking statements are subject to a number of risks, uncertainties, assumptions, and other factors that could cause actual results and the timing of certain events. To differ materially from those expressed in or implied by the forward-looking statements. These factors include, but are not limited to, prevailing market conditions and other factors related to the company's REIT status and the company's business, the evaluation of alternatives by the company related to its non-core assets, and the risk factors discussed in the company's most recent Form 10-K, Form 10-Q, and other filings within the Securities and Exchange Commission. The information in this presentation should be evaluated in light of these important risk factors. We do not undertake any obligation to update the company's forward-looking statements. Management will be referring to non-GAAP financial measures during our call today. Please refer to our statement regarding the use of these non-GAAP measures and reconciliations included on our first quarter 2025 supplemental information and presentation materials. Lance will start today's presentation with an overview, then hand it off to Clayton for a discussion of financial matters. To close, Lance will return for some final remarks, and we will open it up for your questions. With that, let me turn the call over to Lance.