Eastman Chemical Company

Good day, everyone, and welcome to the fourth quarter and full year 2025 Eastman conference call. Today's conference is being recorded. This call is being broadcast live on the Eastman website at www.eastman.com. I will now turn the call over to Mr. Greg Riddle, Eastman Investor Relations. Please go ahead, sir.

Thank you, Becky, and good morning, everyone, and thanks for joining us. On the call today are Mark Costa, Board Chair and CEO, William McClain, Executive Vice President and CFO, and Jake Leroux, Senior Manager, Investor Relations. Yesterday, after market closed, we posted our fourth quarter and full year 2025 financial results news release and SEC 8K filing. Our slides and the related prepared remarks in the investor section of our website, Eastman.com. Before we begin, I'll cover two items. First, during this presentation, you will hear certain forward-looking statements concerning our plans and expectations. actual events or results could differ materially certain factors related to future expectations are or will be detailed in our fourth quarter and full year 2025 financial results news release during this call in the preceding slides and prepared remarks and in our filings with the Securities Exchange Commission including the form 10k filed for full year 2024 and the form 10k to be filed for full year 2025. Second, earnings referenced in this presentation exclude certain non-core and unusual items. Reconciliations to the most directly comparable GAAP financial measures and other associated disclosures, including a description of the excluded and adjusted items, are available in the fourth quarter and full year 2024 financial results news release. As we posted the slides and accompanying prepared remarks on our website last night, we will now go straight into Q&A. Becky, please, let's start with our first question.

Thank you. Our first question comes from Josh Spector from UBS. Your line is now open. Please go ahead.