CAE Inc.

I would now like to turn the conference over to Mr. Andrew Arnovitz. Please go ahead, Mr. Arnovitz.

Good morning, everyone, and thank you for joining us. Before we begin, I'd like to remind you that today's remarks, including management's outlook for fiscal 26 and answers to questions, contain forward-looking statements. These forward-looking statements represent our expectations as of today, May 14, 2025, and accordingly are subject to change. Such statements are based on assumptions that may not materialize and are subject to risks and uncertainties. Actual results may differ materially, and listeners are cautioned not to place undue reliance on these following looking statements. A description of the risks, factors, and assumptions that may affect future results is contained in C's annual MD&A, available on our corporate website and in our filings with the Canadian Securities Administrators on CDAR Plus and the U.S. Securities and Exchange Commission on EDGAR. On the call with me this morning are Marc Perrin, CEE's President and Chief Executive Officer, and Constantino Malatesta, our Interim Chief Financial Officer. Nick Lientidis, CEE's Chief Operating Officer, is also on hand for the question period. After remarks from Marc and Constantino, we'll open the call to questions from financial analysts. Let me now turn the call over to Marc.

Thank you, Andrew, and good morning, everyone. We delivered an exceptional fourth quarter that capped a strong year across all of our key financial and operational metrics. I'm very pleased with the performance and proud of how the team delivered with disciplined execution and efficient capital management. We generated $289 million in free cash flow in the quarter and a record $814 million for the full year translating to a very robust cash conversion rate of 211%. That level of cash generation enabled us to meet our year-end leverage target, giving us stronger financial position and increased flexibility as we look ahead. Importantly, we also continued building momentum for long-term growth and profitability. We secured $1.3 billion in new orders in the quarter, for a record end of year adjusted backlog of $20.1 billion, which is up 65% from last year. This achievement is testament to the confidence of our customers that have NCE and the strength of demand across our markets. Turning to our segments, I'm extremely proud of what we've accomplished, executing our strategy with dedicated focus and operational rigor. On the civil side, Despite ongoing constraints in global aircraft supply and the temporary drop in U.S. pilot hiring, we delivered another strong quarter, demonstrating both the resilience of our business model and the strength of our global franchise. Civil achieved a record adjusted segment operating margin of 28.6% in Q4 and 21.5% for the year. Adjusted segment operating income grew 6% year over year A particularly good result given the factors that have been holding the commercial market back from more normalized operating orders. Our backlog in civil grew an impressive 37% to a record $8.8 billion, supported by $3.7 billion in new orders, including 56 full-flight simulators. During the quarter, civil assigned training and operating support solutions contracts valued at $742 million, including a sale of 14 full-flight simulators and long-term training and airline operations digital solutions contracts. In defense, we accelerated our path to greater profitability. We delivered an adjusted segment operating income margin of 9.2% in the quarter and 7.5% for the year, driven by solid program execution and a near doubling of the adjusted defense backlog to $11.3 billion. During the quarter, defense booked orders for $596 million, bringing the full year total to a record $4.0 billion. It's very clear that we're gaining traction and are well positioned for continued growth in a market with significant long-term tailwinds. With that, I'll now turn the call over to Dino, who can provide a detailed look at our financial performance. I'll return at the end of the call to comment on our outlook. Dino?