REX American Resources Corporation

Good morning, and welcome to the RECS American Resources fourth quarter and full fiscal year 2025 conference call. As a reminder, today's call is being recorded, and at this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. I would now like to turn the call over to Mr. Doug Brueggemann, Chief Financial Officer of RECS American. Please go ahead.

Good morning, and thank you for joining this morning's call. I have joining me on the call today Stuart Rose, REC's Executive Chairman, and Zafar Rizvi, our Chief Executive Officer. We'll get to our presentation and comments momentarily, as well as your questions. But first, I will review the Safe Harbor Disclosure. In addition to historical facts or statements of current conditions, today's conference call contains forward-looking statements that involve risk and uncertainties within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the company's current expectations and beliefs, but are not guarantees of future performance. As such, actual results may vary materially from expectations. The risk and uncertainties associated with the forward-looking statements are described in today's news announcement and in the company's filings with the Securities and Exchange Commission, including the company's reports on Form 10-K and 10-Q, REX American Resources assumes no obligation to publicly update or revise any forward-looking statements. I'd now like to turn the call over to Stuart Rose, our Executive Chairman.

Good morning, and thank you to everyone for joining us today. Fiscal 2025 was an exceptional year for REC's American resources, highlighted by outstanding operational performance and meaningful progress on our strategic growth initiatives. We demonstrated not only the resilience and scalability of our business model, but also the strength and capability of our team. Our ethanol sales volume reached record levels in 2025, driven by strong export demand and favorable industry conditions. In a dynamic commodity pricing environment, our team's operational excellence and market expertise enabled us to deliver strong financial results while maintaining our leadership position in the industry. While we expect these conditions to persist in the near term, our long-term success is rooted in discipline, execution, efficiency, and most importantly, teamwork, qualities that allow us to perform consistently even in more challenging environments. On the strategic front, 2025 was a transformative year. We are encouraged by the initial implementation of the 45Z tax credit with its impact of fiscal 2025. and expect it to positively impact our results going forward. We also made significant progress on our capacity expansion at the One Earth Energy Facility, which is nearing completion and will allow for increased annual production capacity to 200 million gallons. In addition, we continue to work diligently on our carbon capture and storage initiative at the One Earth Facility. reinforcing our commitment to sustainability and long-term value creation. Our financial position remains exceptionally strong after reporting record EPS for fiscal 2025. We concluded the year with a solid balance sheet, substantial cash reserves, and no bank debt. This financial flexibility combined with our operational strength positions us well to pursue continued growth and deliver enhanced shareholder value. Looking ahead to the remainder of 2026 and beyond, we are confident in our ability to build on this momentum. Our expanded capacity, tax credit eligibility, and strong financial foundation provide multiple avenues for sustained growth. As always, our success is driven by our people. The dedication, market insight, and attention to detail demonstrated by the Rex team truly set us apart. Whether operating our facilities at peak efficiency or strategically managing our commodity positions, our employees continue to perform at the highest level. With that, I'll turn the call over to CEO Zafar Rizvi. who will provide additional details of our operational achievements and strategic initiatives.