DT Midstream, Inc.

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Good morning and welcome everyone. Before we get started, I would like to remind you to read the safe harbor statement on page two of the presentation, including the reference to forward-looking statements. Our presentation also includes references to non-GAAP financial measures. Please refer to the reconciliations to GAAP contained in the appendix. Joining me this morning David Slater, President and CEO, and Jeff Jewell, Executive Vice President and CFO. So, with that, I'll go ahead and turn the call over to David.

Thanks, Todd, and good morning, everyone, and thank you for joining. During today's call, I'll touch on our financial results, provide an update on the latest commercial activity and construction progress on our growth projects. I'll then close with some commentary on the current market fundamentals before turning it over to Jeff to review our financial performance and outlook. So with that, we're off to a strong start in 2025, giving us confidence in our full-year plan. We are reaffirming our 2025 adjusted EBITDA guidance range and our 2026 adjusted EBITDA early outlook range. and we continue to execute on our 2.3 billion organic growth project backlog. Our teams remain focused on integrating our newly acquired interstate pipelines. The key integration activities are progressing on schedule, and we completed full cutover of all financial activities in the DTM systems on April 1st. We're on track to complete all remaining milestones by year end. We onboarded all key employees at close and benefited from the team's expertise with these assets during the winter season, which our pipelines were highly utilized and provided reliable service. As we gain additional insights into these assets and how they operate, we're developing a clearer view of the commercial opportunities they present, including synergies with our existing network, and we feel that the growth and modernization opportunities offered from them are better than our initial assessment. Construction is currently underway on the first of these growth projects, the Midwestern Gas Transmission Power Plant lateral to serve AES, Indiana's Petersburg generating station. On the broader construction front, all of our in-flight growth investments remain on track and on budget. And expansions across the gathering footprint will begin to contribute during the second half of the year. As a reminder, we expect these projects to ramp over a period of time and look forward to their contributions as they serve some of the most strategic supply areas in the country. Finally, I'd like to take a moment to address the recent market volatility and its long-term impacts to DTM and the broader natural gas sector fundamentals. The first quarter of 25 was a volatile period for the market, with significant cold weather in January rebalancing the market and driving natural gas prices up, followed by a decline in pricing as the market tried to understand the impact of tariff announcements. Despite the uncertainty ahead and volatility, BTM, a pure-play natural gas midstream company, is fundamentally well-positioned and our plan remains unchanged. Our contracts have been structured to be durable, even in volatile markets, with significant demand-based revenues, a customer base that is over 80% investment grade rated, and contract terms that average seven years. In addition, we have no commodity exposure and minimal volume exposure across our portfolio, with our pipeline segment comprising 70% of adjusted EBITDA, serving strong, demand pull utility customers anchored by long-term contracts. We expect tariffs will have no material effect on us as we have procured long lead critical components for our projects currently in progress and maintain strong strategic relationships with suppliers, which is why we are confident in reaffirming our 25 and 2026 adjusted EBITDA guidance ranges, as well as our CapEx guidance. Looking out over a longer-term time horizon, we remain bullish about the outlook for natural gas infrastructure. Total U.S. natural gas supply and demand are both expected to grow by approximately 19 BCF per day through 2030, with demand growth primarily driven by LNG exports, data center power generation, utility scale power generation, and industrial onshoring. Our Louisiana assets are very well positioned to serve this growing LNG demand in the Gulf Coast region. Likewise, data center and utility scale power generation is expected to drive 25% growth in the PGM and MISO power market regions by 2030. And this is where the bulk of our pipeline assets are located. In addition, the long-term positive effects of higher tariffs will result in reshoring of industrial demand. require more power and natural gas to serve energy-intensive industries that relocate manufacturing and industrial operations to the United States. Two-thirds of the supply increase to meet this demand growth is expected to come from the Haynesville and Appalachian regions where assets are located, providing opportunities for higher utilization and expansion of our gathering systems to feed our pipelines. Finally, there is growing political and regulatory support emerging for natural gas and energy infrastructure. With the recognition of a national energy emergency and appreciation of the need to streamline the process, we're getting much needed infrastructure built. So overall, the fundamentals supporting the need for more natural gas infrastructure remain intact, and we are confident in our ability to continue to deliver on our commitments to our customers, suppliers, and investors. I'll now pass it over to Jeff to walk you through our quarterly financials and outlook.