Waste Connections, Inc.

Ladies and gentlemen, this is the conference operator. Thank you for joining this morning's Waste Connections, Inc. conference call. The call will begin momentarily. Once again, we do thank you for joining. Please stay on the line, and the call will begin momentarily. Thank you. Good morning everyone and welcome to the Waste Connections, Inc. Q3 2025 earnings call. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. Please also note today's event is being recorded. At this time, I'd like to turn the conference over to Ron Mittelstadt, President and CEO. Sir, please go ahead. Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittelstadt, President and CEO, Ron Mittel

I would like to welcome everyone to this conference call to discuss our third quarter results and to provide some thoughts about the remainder of the year and the setup for 2026. I'm joined this morning by Marianne Whitney, our CFO, and several other members of our senior management. As noted in our release, superior execution drove better than expected financial results in the third quarter, bolstered by continued improvement in operating trends. Another quarterly step down in employee turnover and new record low safety incident rates, together with strong pricing execution retention drove adjusted EBITDA margins of 33.8 percent, reflecting underlying solid waste margin expansion of approximately 80 basis points in the period. I'm extremely pleased by our team's efforts to overcome incremental commodity headwinds and ongoing uncertainty in the economy in Q3 to achieve the results above expectations. Assuming continuing trends and without further headwinds, we remain well positioned to deliver our full year 2025 outlook as provided in July. Before we get into much more detail, let me turn the call over to Mary Ann for our forward-looking disclaimer and other housekeeping items.

Thank you, Ron, and good morning. Good morning. The discussion today during today's call includes forward-looking statements made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including forward-looking information within the meaning of applicable Canadian securities laws. Actual results could differ materially from those made in such forward-looking statements due to various risks and uncertainties. Factors that could cause actual results to differ discussed both in the cautionary statement included in our October 21st earnings release and in greater detail in waste connections filings with the U.S. Securities and Exchange Commission and the Securities Commissions or similar regulatory authorities in Canada. You should not place undue reliance on forward-looking statements, as there may be additional risks of which we are not presently aware or that we currently believe are immaterial, which could have an adverse impact on our business. We make no commitment to revise or update any forward-looking statements in order to reflect events or circumstances that may change after today's date. On the call, we will discuss non-GAAP measures such as adjusted EBITDA, adjusted net income attributable to waste connections on both the dollar basis and per diluted share, and adjusted free cash flow. Please refer to our earnings releases for a reconciliation of such non-GAAP measures to the most comparable GAAP measures. Management uses certain non-GAAP measures to evaluate and monitor the ongoing financial performance of our operations. Other companies may calculate these non-GAAP measures differently. I will now turn the call back over to Ron.