DT Midstream, Inc.

Welcome to the DT Midstream. I will now turn it over to our speaker today, Todd Lohrmann, Director of Investor Relations. Thank you. Please go ahead.

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 are David Slater, Chairman and CEO, Chris Zona, President and COO, 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 highlight our key accomplishments for the quarter and discuss the constructive market fundamentals driving demand across our footprint. I'll then turn it over to Chris and Jeff to review our commercial activity, project execution, financial performance, and outlook. So with that, we delivered another strong quarter. and our year-to-date performance is enabling us to raise our 2026 adjusted EBITDA guidance, representing a 7% year-over-year growth at the midpoint. We are also reaffirming our 2027 adjusted EBITDA early outlook range. We continue to execute our pure play natural gas focus strategy, commercializing organic growth opportunities supported by strong customer demand. During the quarter, we reached FID on three new projects in our pipeline segment. increasing our total committed capital to approximately $2.4 billion, which represents 70% of our five-year organic project backlog. Putting this in perspective, our total committed capital is approximately two times this year's adjusted EBITDA guidance and has increased by 50% within the last nine months. While we will formally update our backlog on our 2026 year-end call, The strength of demand across our footprint and our strong competitive positioning gives us confidence in the depth and durability of our organic growth opportunities. Turning to the market, the fundamentals supporting our long-term growth outlook remain very constructive. Natural gas remains a reliable, affordable, and abundant domestic energy source available at scale. And recent third-party forecasts project U.S. natural gas demand to grow by more than 25 BCF per day through 2030. driven by growing LNG exports and increasing power demand, this new generation is needed to replace retiring coal capacity and serve growing data center load. We see this demand growth extending well into the next decade. On the LNG side, the ongoing geopolitical tension in the Middle East appears to be driving a long-lasting shift of global LNG sourcing towards the U.S., which will continue to add demand on the U.S. Gulf Coast. Moving to power demand, recent regulatory filings in the Upper Midwest contemplate meaningful new natural gas generation in the early to mid 2030s. These fundamentals reinforce the need for additional natural gas infrastructure and our strategically located gas pipeline footprint is well positioned to serve this growth across the Midwest, Northeast, and Gulf Coast. As the need for new energy infrastructure continues to grow, we are encouraged by the bipartisan progress on permitting reform, including the recently introduced bipartisan American Affordability and Jobs Act. And we look forward to seeing continued progress following the elections towards a more efficient and predictable permitting process for our critical energy infrastructure. We have also been monitoring the growing public and political debate surrounding the pace and impact of data center development. And we have observed that the utilities we are contracting with are taking a thoughtful, long-term approach to engaging with local communities and ensuring reliability and affordability benefits for their existing customers. I'll now turn it over to Chris to walk you through our commercial activity and construction projects, which provide tangible evidence of how these demand fundamentals are translating into growth across our footprint.