Pembina Pipeline Corp. Ordinary Shares (Canada)

Stand by. We're about to begin. Good day and welcome to the Pembina Pipeline Corporation 2021 Fourth Quarter Results Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Cameron Golditz, Energy Financial Officer. Please go ahead.

Thank you, Jennifer. Good morning, everyone. Welcome to Pembina's conference call and webcast to review highlights from the year 2021. On the call with me today are Scott Burrows, President, Chief Executive Officer, Jared Sprote, Senior Vice President and Chief Operating Officer, Pipelines and Facilities, Stu Taylor, Senior Vice President, Marketing and New Ventures and Corporate Development Officer, and Janet LaDuca, Senior Vice President, External Affairs and Chief Legal and Sustainability Officer. I'd like to remind you that some of the comments made today may be forward-looking in nature and are based on PEMMA's current expectations, estimates, judgments, and projections. Forward-looking statements we may express or imply today are subject to risks and uncertainties which could cause actual results to differ materially from expectations. Further, some of the information provided refers to non-GAP measures. To learn more about these forward-looking statements and non-GAP measures, please see the company's management discussion and analysis dated February 24, 2022, for the period ended December 31, 2021, as well as the press release Pemina issued yesterday, which are available online at Pemina.com. and on both CDAR and EDGAR. I will now turn things over to Scott to make some opening remarks.

Thanks, Cam. As announced earlier this week, the Board of Directors has completed its process regarding the CEO search. I am honoured and humbled to have been entrusted with this role on a permanent basis, and I am thrilled to have the opportunity to work with such a dynamic and dedicated team. ChemNet's future is full of exciting opportunities, and I am confident that together with our many stakeholders, we will accomplish great things. 2021 was another remarkable year for Pemina as we once again navigated the uncertainty and ever-changing reality of the pandemic and its consequences on the global economy and energy prices, while still moving the company boldly forward. A year ago, we spoke about hitting pause in 2020, but getting ready to hit play again in 2021. And we did exactly that. Our accomplishments include restarting construction on several previously deferred capital projects and delivering record financial results that exceeded our annual guidance. Cam will speak more to the details in a moment, but our strong results reflect much improved commodity prices across all products within Pemina's value chain, crude oil, natural gas, and natural gas liquids. Further, volumes on many of Pemina's systems improved throughout 2021, and higher prices and margins on crude oil and NGLs, as well as NGL sales volumes in the year, led to strong annual results in our marketing business. Complementing these strong results was a step change we achieved in the execution of our ESG strategy, Pemina is embracing the opportunity to adapt, respond, and contribute to a more sustainable future, and our strong commitment to ESG is being demonstrated by the ambitious new projects, partnerships, and targets we announced this past year. We announced a bold target and laid out plans to reduce Pemina's GHG emissions intensity by 30% by 2030. We further demonstrated Pemina's commitment to employee diversity, equal opportunity, and ensuring a safe and inclusive workplace with the announcement of employee equity, diversity, and inclusion targets. as we announced three significant partnerships that combine strong business opportunities with compelling ESG attributes. Early in 2022, we are poised for another exciting year ahead. As we have previously noted, our enthusiasm is due in part to the overall improvement in commodity prices and the expectation of post-pandemic economic recovery. We continue to observe strong industry fundamentals, including the extraordinary financial health of our customers, new third-party infrastructure, and continued petrochemical support and investment. Finally, I would like to congratulate Jared Sprout on his appointment to the newly combined position of Senior Vice President of Operating Officer Pipelines and Facilities. This appointment recognizes his strong leadership and significant contributions to Pemina over the past seven years. And I would like to welcome Ava Bishop, who will be joining Pemina in April as Senior Vice President, Corporate Services. Eva has nearly 30 years of experience across energy, consumer goods, and network industries, and her new role will support the Executive Committee in developing new opportunities to benefit Pemina's various stakeholders, including our employees. I will now pass the call over to Cam to discuss the financial highlights for the fourth quarter and full year.