Titan America SA Common Shares

Greetings and welcome to the Titan America fourth quarter and full year earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Mr. Daniel Scott, Investor Relations. Thank you. You may begin.

Thank you, Operator, and good morning to everyone on the line. Thank you for joining us for Titan America's fourth quarter and full year 2024 conference call. I am joined by Bill Sarkalis, Chief Executive Officer of Titan America, and Larry Wilt, Chief Financial Officer. Before we begin, I would like to remind you that we released Titan America's fourth quarter and full year results, which are available on our website at ir.titanamerica.com. along with today's accompanying slide presentation. This call is being recorded and a replay will be made available on our investor relations website. During the call, we will present both IFRS and non-IFRS financial measures. The most directly comparable IFRS measures and reconciliations for non-IFRS measures are available in today's press release and accompanying slides. Certain statements on today's call may be deemed to be forward-looking statements. Such statements can be identified by terms such as expect, believe, intend, anticipate, and may or by the use of the future tense. You should not place undue reliance on forward-looking statements. Actual results may differ materially from these forward-looking statements and we do not undertake any obligation to update any forward-looking statements we make today. For more information about factors that may cause actual results to differ materially from forward-looking statements, Please refer to the press release we issued today, as well as the risks and uncertainties described in our SEC filings. I would now like to turn the call over to Bill. Please go ahead.

Thank you, Dan. Good morning, and thank you all for joining us today for Titan America's first earnings call as a public company. I'm particularly excited to be speaking with you following the successful completion of our initial public offering in February. This milestone represents a transformative moment in our company's journey, providing us with additional resources to pursue our strategic growth initiatives while continuing to create value for all our stakeholders. We are grateful for the confidence investors have shown in our business model and growth strategy, and we look forward to delivering on our commitments as we embark on this new chapter as a public company. For those who may be newer to our story, I'd like to highlight what makes Titan America a compelling investment opportunity. As shown on slide four, we have nine key investment highlights that differentiate us in the marketplace, but I will focus on four main takeaways. First, we have a uniquely vertically integrated business model. that provides us with strategic flexibility and multiple channels to reach end users. Second, we have built a hard-to-replicate comprehensive logistics network with strategically placed facilities and terminals that provide us with significant competitive advantages in terms of reliability of supply and cost efficiency. Third, We have already installed or are investing in capacity to meet the high demand in the years ahead and capture market growth. And finally, we are led by an experienced management team with a proven track record of outperforming the market. Looking at slide five, you can see our geographic footprint along the east coast of our country. The areas we serve include three out of the 11 U.S. economic mega-regions, which are powerhouses of growth, productivity, and innovation. The three mega-regions in our served markets represent between 20 and 25 percent of the population, the GDP, and the consumption of construction materials in our country. We operate in two business segments, Florida and Mid-Atlantic. Turning to slide six, we have demonstrated a consistent track record of outperforming the broader market. From 2013 to 2024, our cement sales volumes grew at a compounded average annual growth rate of 7%, significantly outpacing the U.S. market growth rate of approximately 2%. This outperformance reflects the effectiveness of our business model, our strategic positioning, and our ability to capture growing demand across our regions. Slide seven illustrates why we are bullish on the trends driving a powerful multi-year growth phase in our country. We see four key drivers. First, the IIJA Infrastructure Investment Program, which is expected to generate demand of approximately 50 million short tons of cement over the next five years. Second, the manufacturing reshoring initiatives, bringing significant investment to our regions. Third, the housing deficit, estimated at 3.4 million homes nationally, with nearly 900,000 units in our regions. And fourth, emerging themes such as resilient urbanization, new construction technologies, and digital transformation that are creating new opportunities in the construction materials sector. On slide eight, you can see how our vertically integrated business model provides strategic flexibility. Our upstream products like cement, cementitious materials and aggregates feed into our downstream product lines like ready-mix concrete and concrete block, while we also place all our products directly to end markets. This integration allows us to optimize our product mix and channels to market based on local market conditions, maximizing both top-line growth and profitability. Slide 9 highlights our hard-to-replicate comprehensive logistics network. We have bookended each of our business units on one side with mega production hub for our upstream products and on the other side with a mega seed terminal that can import all our upstream products. Those hubs are strategically placed on railway lines which is the fastest and lowest cost way to move our products. Over the years, we have invested in this network that connects our mega hubs, our product terminals and warehouses, and our downstream production units and reaches all the way down to our customers. As a result, we have the unique capability to offer our customers reliability of supply from multiple channels and sourcing options. This network also gives us the built-in optionality and strategic flexibility to choose to serve our customers from the sourcing point and the channel with the lowest total cost after considering both product and logistics. With that overview, I'll now turn the call over to Larry to provide more detail on our financial results and segment performance. Larry?