Sable Offshore Corp.

Hello and welcome to the Sable Offshore Corp Investor Update Call. All participants will be in listen only during the prepared remarks. We will then go into a Q&A session. Also, as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time. Harrison Brough, you may begin.

Thank you, Alice. Good morning, everyone. And welcome to our second quarter 2026 earnings conference call. Joining me today to discuss our results are Jim Flores, Chairman and Chief Executive Officer, Caldwell Flores, President and Chief Operating Officer, Gregory Patronelli, Executive Vice President and Chief Financial Officer, and Anthony Dunner, Executive Vice President, General Counsel and Secretary, as well as various other members of the Sable team. Please refer to our website to download a copy of our new investor presentation posted yesterday, as well as our recently filed financial statements, which will both be discussed today. We will actively display the presentation on this webcast and reference certain items by page number and then proceed to Q&A. We will also be making statements during this call that are forward-looking, These statements are based on current expectations and assumptions and are subject to risk and uncertainties. Actual results could differ materially from those described in the forward-looking statements because of factors discussed in our earnings release, in our investor presentation, in the comments made during this conference call, in our most recent Form 10-K, Forms 10-Q, and other reports and filings with the SEC. We do not undertake any duty to update any forward-looking statements. With that, I will turn it over to Jim Flores to begin going through the investor presentation. Jim?

Thanks, Harrison, and good morning, everyone. As promised, we said we'd have a conference call at some point in time. This is our first conference call for earnings from Sable Offshore, so welcome, everyone. After looking at page three of the presentation, it's more of the summary stuff you've seen before, but page four is the milestones achieved and next steps. And we've listed them all since the beginning of this saga in 25. And then the three updated ones is restarting production with Platform Heritage in April 26, refinance the senior secure term to July 26, and commence the commodity hedging program July 26. The next steps are restart production of Platform Hondo, which is expected at the end of September 26. So we get a full fourth quarter. And establish full 3P reserve report expected first quarter 27. And then we refinance the senior secured term B node and convertible senior unsecured nodes and potentially install a full sales buoy at San Ynez unit and continue to legally protect Sable's vested interests and pursue all monetary damages. Those are five big milestones ahead of us and we expect the next 12 months to achieve those. On page five, which is our corporate update, You know, we have operations we're going to go through extensively today. The second quarter, 26 exit rate, oil sales are 40,000 barrels a day. It represents a huge growth in what our oil sales have been prior to that. We kicked off a wildline campaign now that we have all the wells open or potentially open to mitigate water influx and really try to trim up our production to wherever as efficiently as possible. And we're working feverishly on Platform Hondo. Platform Hondo is a 45-year-old platform that's in bad need of restoration. That's probably the best word for it. But we're doing great work there. We've got a great team and so forth. And we're just hoping we can hit that timing in September. And then we're working with the refineries in the downstream. We brought in a large quantity of oil for the California one-shore refinery markets. And we're working our way through that process of making sure everybody's getting comfortable with our law, the quality of it, and also the volume of it. And we'll go into detail on that in another slide. Regulatory and legal, we continue to wait on the U.S. District Court for their findings and also the Ninth Circuit as we've been side by side with the U.S. federal government working along with the Justice Department to be in a situation where all of the federal regulations that we're adhering to as Sable Offshore are being recognized through the courts. We'll continue to update that as goes, but there's no update today from that standpoint. On the finance side, we completed the refinancing of July 2nd, 2026. Proceeds were retired the former Exxon Mobil senior term. That was really key because they had a lot of restrictions. Mobile Senior Term note that we now have a little more flexibility with the current financial structure. It's not optimal for us at this point, but it was a big step for us. And the Commodity Hedging Program, one of the things we put in place, you'll see we've got some floor protection for a significant portion of our production. Just in case all the volatility goes the wrong direction, we'll be protected. And then we'll look at further balance sheet optimization in 27 once all our wells are on and our reserve reports out there. And we're at full power. On page four, Gregory, I'll turn it over to you and let you take us through the financing overview we did and a couple other financial slides.