Pembina Pipeline Corp. Ordinary Shares (Canada)

Thank you, Joanna. Good morning, everyone.

Welcome to Pemina's conference call and webcast to review highlights from the third quarter of 2024. On the call today, we have Scott Burrows, President and Chief Executive Officer, and Cameron Goldate, Senior Vice President and Chief Financial Officer, along with other members of Pemina's Senior Officer Leadership Team, including Jared Sprout, Janet LaDuca, Stu Taylor, Chris Sherman, and Ava Bishop. I would like to remind you that some of the comments made today may be forward-looking in nature and are based on PEMINA'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. Some of the information provided refers to non-GAAP measures. To learn more about these forward-looking statements and non-GAAP measures, please see the company's MD&A, dated November 5th, 2024, for the period ended September 30th, 2024, as well as the press release Pemina issued yesterday. All of these materials are available online at Pemina.com and on both CR Plus and Edcar. I will now turn things over to Scott to make some opening remarks.

Thanks, Dan. We were pleased yesterday to report our third quarter results, highlighted by adjusted EBITDA of $1.019 billion and adjusted cash flow from operating activities of $724 million, or $1.25 per share. Pemina is poised to deliver a record financial year, reflecting the positive impact of recent acquisitions, growing volumes in the Western Canadian sedimentary basin, and a strong contribution from the marketing business. As Cam will discuss further in a moment, We have narrowed our 2024 adjusted EBITDA guidance range by $25 million on either end to $4.225 billion to $4.325 billion. In addition to solid financial results, the third quarter was highlighted by three notable transactions. The first was the acquisition of the remaining 14.6% interest in Oxable's U.S. operations, resulting in fully consolidated ownership of all the Oxable assets. This transaction allows further simplification of our corporate reporting and enhances our long-term service offering from the Oxable assets. In addition, PGI, jointly owned by Pemmin and KKR, entered into two exciting transactions with growth-focused companies operating in the Montney and DuVernay. The first transaction with Whitecap included the acquisition of a 50% interest in Whitecap's KBOB complex and an obligation to fund future Latour area infrastructure development. Further, the second transaction PGI entered into agreements with Varon that included the acquisition of Varon's Gold Creek and Carr area oil batteries and support for future infrastructure development. We are pleased to have closed this transaction effective October 9th, 2024, and look forward to growing alongside Varon in the years to come. Under the agreement with Varon, PGI is committed to fund up to $300 million of future infrastructure, and we are pleased to be progressing a new battery and associated pipelines representing more than half of the funding commitment. More details will be provided upon completion of upcoming engineering milestones. Through these two transactions, we are realizing the vision set forth with the creation of PGI in 2022. We were successful with Whitecap and Barron because we have a unique ability to provide tailored and value-added solutions to support the specific needs of our customers. The opportunities arising from the creation of PGI have attractive economics and are expected to enhance asset utilization, enable future volume capture, and benefit Pemina's full value chain. We also continue to progress our various major projects. Portions of the Northeast BC midpoint pump station expansion have been completed. We are on track to be fully complete by year end. Notably, that project is trending under its $90 million budget, and while a smaller project, it is another example of Pemina's strong project execution. As well, we continue to advance further expansions to support volume growth in Northeast BC, and are pleased that the CER has determined our application for the Taylor to Gordondale expansion is complete, and we can proceed to the assessment phase. At our RFS 4 expansion, site clearing activities have been completed, while engineering and procurement activities and site construction continue. Finally, the Cedar LNG project, we reached an exciting early milestone with the start of onshore construction activities, including site clearing and other civil works. Detailed engineering is underway on the floating LNG facility, and we are looking forward to the start of construction in mid-2025. I'll now turn things over to Cam to discuss in more detail the financial highlights for the third quarter.