Nomad Foods Limited

Greetings, everyone, and welcome to the Nomad Foods fourth quarter of 2025 Q&A conference call. Please be aware that today's event is being recorded. I'd now like to turn the floor over to your host, Jason English, head of investor relations. Please go ahead.

Thank you. Hello, and welcome to Nomad Foods fourth quarter 2025 earnings question and answer session. We have posted the associated press release, prepared remarks, and investor presentation on Nomad Foods' website at nomadfoods.com. I hope you've all had a chance to review them. I'm Jason English, Head of Investor Relations and Corporate Strategy, and I'm joined by Dominic Brisby, our CEO, and Ruben Valdez, our CFO. During this call, we will make forward-looking statements about the performance that are based on our view of the company's prospects, expectations, and intentions at this time. Actual results may differ due to risks and uncertainties, which we discussed in our press release, our findings with the SEC, and our investor presentation, which includes cautionary language. We will also discuss non-IFRS financial measures during the call today. These non-IFRS financial measures should not be considered a replacement for and should be read together with IFRS results. Users can find the IFRS to non-IFRS reconciliations with our earnings release and in the appendices at the end of the slide presentation available on our website. Please note that certain financial information within this presentation represents adjusted Figures. All adjusted figures have been adjusted primarily for, when applicable, share-based payment expenses and related employer payroll taxes, exceptional items, and foreign currency translation charges and or gains. Unless otherwise noted, today's comments from here will refer to those adjusted numbers. There it is. The fun part's out of the way. With that, operator, let's open the line to questions.

And at this time, if you would like to ask a question, please press star and then 1 using a touch-tone telephone. To draw your questions, you may press star and 2. If you are using a speakerphone, we do ask that you please pick up the handset prior to pressing the keys to ensure the best sound quality.