AMG Critical Materials N.V.

Good day, everyone, and welcome to today's AMG Q3 2025 earnings conference call. At this time, all participants are in a listen-only mode. Later, you'll have the opportunity to ask questions during the question-and-answer session. You may register to ask a question at any time by pressing the star and 1 on your telephone keypad. Please note this call is being recorded, and I will be standing by if you should need any assistance. It is now my pleasure to turn the conference over to Thomas Svoboda. Please go ahead, sir.

Yeah, thank you, Jen, and good afternoon, everyone. Welcome to IMG's third quarter 2025 earnings call. Joining me on this call are Dr. Heinz Schimmelbusch, the chairman of the management board and chief exec officer, Mr. Jackson Dunkel, the CFO, and Mike Connor, the Chief Corporate Development Officer. We published our third quarter 2025 earnings press release yesterday, along with a presentation for investors, both of which you can find on our website. They include our disclaimers about forward-looking data. Today's call will begin with a review of the third quarter 2025 business highlights, By Dr. Schimmelbusch, Mr. Conner will comment on strategy and Mr. Danko will comment on IMG's financial results. At the completion of Ms. Danko's remarks, Dr. Schimmelbusch will comment on outlook. We will then open the line to take your questions. I now pass the floor to Dr. Schimmelbusch, IMG's Chairman of the Management Board and Chief Executive Officer.

Thank you, Thomas. Our Q3 adjusted EBITDA of $64 million represents a 58% increase versus Q3 last year, driven by continued momentum in AMG technologies with AMG Engineering's order backlog as well as profitability in AMG Antimony. On top of that, we benefited from a $5 million compensation settlement at AMG Venedium for an equipment failure related to our gross investment in Saintsville. We remain focused on the elements within our control, executing operationally, strengthening our balance sheet and streamlining our portfolio. The divestment of our natural graphite business represents a key step in this strategy, and we expect the transaction to close later this year. While our two main products, lithium and vanadium, continue to face low pricing constraints for profitability and cash generation in the near term, AMG is actively advancing expansion projects across our portfolio. These initiatives are closely aligned with governmental efforts to onshore strategic materials production and strengthen domestic supply lines in the United States. Construction of our chromium metal plant in Newcastle, Pennsylvania is progressing on schedule with a startup targeted for Q2 26. completion, it will be the only chrome metal facility in the country, reinforcing AMG's role as a key enabler of national material security. We also expand our U.S. titanium alloys capacity at the same facility to keep up with our customers' increasing demand for aerospace applications. We are evaluating the establishment of a tantalum and niobium metal plant in the U.S., leveraging our long-standing experience in both metals in Brazil and our unique backward integration into engineering processing technology. This project, if executed, significantly enhances our position in the aerospace sector in North America and globally. Similarly, we are assessing the construction of an antimony trioxide production facility in the United States, the first of its kind in North America, with a final investment decision expected in the first half of 26. Leveraging AMG's unique positioning and technical expertise, we are confident in our ability to execute this project efficiently and with limited capital investment financing from ongoing operating cash flow now. So it generated from our ongoing cash flow. Together, this initiative, combined with the expected recovery of the lithium and vanadium markets down the road, positioned AMG for sustained long-term value creation. We look forward to providing further updates as these projects progress in the coming quarters. Let me now hand over this to Mike Connor. Mike?