CF Industries Holdings, Inc.

earnings conference call. All participants will be in lesson 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 telephone keypad. To withdraw your questions, please press star then two. Please note this event has been recorded. I would now like to turn the conference over to Mr. Martin Jarosik, Vice President, Treasury, and Investor Relations. Please go ahead.

Good morning, and thanks for joining the CF Industries Earnings Conference Call. With me today are Tony Will, President and CEO, Chris Bone, Executive Vice President and Chief Operating Officer, Burt Frost, Executive Vice President of Sales, Market Development, and Supply Chain, and Greg Cameron, Executive Vice President and Chief Financial Officer. CF Industries reported its results for the first quarter of 2025 yesterday afternoon. On this call, we'll review the results, discuss our outlook, and then host a question and answer session. Statements made on this call and in the presentation on our website that are not historical facts are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any statements. More detailed information about factors that may affect your performance may be found in our filings with the SEC, which are available on our website. Also, you'll find reconciliations between GAAP and non-GAAP measures in the press release and presentation posted on our website.

Now, let me introduce Tony Will. Thanks, Martin, and good morning, everyone. Yesterday afternoon, we posted results for the first quarter of 2025, in which we generated adjusted EBITDA of $644 million. These results reflect outstanding performance by the CF Industries team against the backdrop of very constructive global nitrogen industry conditions. We are operating safely and at a high level across all aspects of our business. Over the longer term, we have positioned the company for attractive growth through our Bluepoint joint venture with Jera and Mitsui. This industry-defining project will not only supply ammonia that the world desperately will need, but it will also add It will also develop additional demand for low-carbon ammonia into brand-new applications. We also remain committed to returning capital to long-term shareholders. Since the beginning of 2022, we have returned $5 billion to shareholders through share repurchases and dividends. Given the confidence we have in our free cash generation going forward and the disciplined nature of our investment in Blue Plain, the Board has authorized an additional $2 billion share repurchase program. This new program will begin immediately after we complete our existing authorization and will run through the end of 2029. With that, I'll turn it over to Chris to provide more details on our operating results and the status of key strategic initiatives.