Fortis Inc.

Thank you for standing by. This is Betsy, the conference operator. Welcome to the Fortis, Inc. First Quarter 2026 Results Conference Call. As a reminder, all participants are in a listen-only mode and the conference is being recorded. After today's presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then 1 on your telephone keypad. Should you need assistance during the conference call, You may signal an operator by pressing star, then zero. I would now like to turn the conference over to Stephanie Amimo, Vice President, Investor Relations. Please go ahead, Ms. Amimo.

Thanks, Betsy, and good morning, everyone. Welcome to Fortis' first quarter 2026 results conference call. I'm joined by David Hutchins, President and CEO, Jocelyn Perry, Executive VP and CFO, other members of the senior management team, as well as CEOs from certain subsidiaries. Before we begin today's call, I want to remind you that the discussion will include forward-looking information, which is subject to the cautionary statement contained in the supporting slideshow. Actual results can differ materially from the forecast projections included in the forward-looking information presented today. Non-GAAP financial measures referenced in our prepared remarks are reconciled to the related U.S. GAAP financial measures in our first quarter 2026 MD&A. Also, unless otherwise specified, all financial information references in Canadian dollars. With that, I will turn the call over to David.

Thank you, and good morning, everyone. Before getting into the results, I'd like to take a moment to acknowledge Gary Smith, Executive Vice President of Operations and Technology, who is retiring at the end of this month. Gary has had an incredible 42-year career with Fortis, serving in leadership roles and boards across our utilities. He has been integral to Fortis' growth and success, and we're incredibly grateful for his many contributions. We truly wish Gary all the best in retirement. We are pleased with our start in 2026, building on the momentum from last year. During the first quarter, we delivered safe and reliable service while advancing our long-term growth strategy. We invested $1.4 billion of capital into our utility systems and reported earnings per share of 99 cents. We also successfully concluded the UNS gas rate case, reaching a constructive regulatory outcome for our customers and stakeholders. With 25% of our capital plan invested in the first quarter, we remain well positioned to execute our $5.6 billion of planned investments in 2026. Major capital projects continue to progress. A significant milestone was achieved at the Big Cedar Industrial Center, where ITC completed the substation that will support 300 megawatts of load growth for the first data center. Transmission upgrade work for the Big Cedar load expansion project is also underway at this location to serve another 1600 megawatts of new data center load expected to be completed by 2028. At UNS, the ACC approved an amendment to the Springville Generating Station's Certificate of Environmental Compatibility to allow the conversion from coal to natural gas generation. This approval advances TEP's plan to extend the operational life of the facility and supports long-term customer affordability and system reliability. As we have discussed in the past, our utilities continue to prioritize capital investments focused on operational need and customer bill impacts. At ITC, with a substantial data center load anticipated to come online in Iowa, ITC Midwest network transmission rates are expected to be reduced by approximately 20% by the end of the decade. At TEP, The coal to natural gas conversion at Springville Generating Station will be approximately 10% of the capital cost of new gas generation. This is an economical solution benefiting our customers and the communities we serve. Also at TEP, the 300 megawatts of load growth for the data center associated with the approved energy supply agreement is expected to save a typical residential customer approximately 13 U.S. dollars per month once at full production, thanks to this additional revenue. Overall, affordability continues to be an integral part of how we plan, invest, and operate across our group of companies to ensure cost-effective service for our customers. Turning now to slide seven. With our 2026 and five-year capital plans on track, we continue to expect average annual rate-based growth of 7% through 2030. Above and beyond the plan, our teams continue to drive forward a strong slate of incremental growth opportunities. First, at ITC, the MISO LRTP portfolio of projects is advancing. For tranche 2.1, ITC expects 3.3 to 3.8 billion U.S. dollars of investment beyond 2030 for projects that have been awarded and are not subject to competitive bidding. For projects that are subject to a competitive process, ITC is actively evaluating opportunities and preparing bids as appropriate. As it relates to competitively bid projects, ITC, alongside its Grid Acceleration Coalition partners, filed a joint complaint at FERC in April against the competitive bidding processes in MISO and SBP. The complaint urges the Commission to either direct MISO and SPP to exempt transmission projects from the solicitation process when those projects facilitate new generation or large load interconnection, or suspend the solicitation process entirely for the next five years. The complaint emphasizes that competition delays much needed infrastructure development, slowing down AI implementation through regulatory red tape, and increasing costs to customers. While complaints at FERC are not subject to a fixed timeline, the coalition has asked the commission to issue a ruling by July 16th. Shifting now to load growth opportunities in Arizona. In April, key contractual contingencies tied to the approved DSA for 300 megawatts advanced at TEP with credit support now in place. As you may recall, this initial phase will leverage existing implant capacity with a ramp-up expected in 2027 and continuing through 2029. Beyond this ESA, negotiations continue for an incremental 300 megawatts of capacity to support a potential build-out of 600 megawatts at this site. TEP is also in active negotiations for additional capacity at a second site in the range of 500 to 700 megawatts. If agreements are finalized for these subsequent phases, we estimate new generation investment in the range of one and a half to 2 billion us dollars would be required. Our track record of long-term sustainable growth reflects the strength of our regulated businesses and supports our commitment to deliver four to 6% annual dividend growth through 2030. Now I will turn the call over to Jocelyn for an update on our first quarter financial results.