Calian Group Ltd.

Good day and thank you for standing by. Welcome to the Cal-Un Group Third Quarter 2026 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To address your question, please press star 11 again. Please be advised that today's conference will be recorded. I would like to hand the conference over to your first speaker today, Jennifer McCaughey, Director of Investor Relations.

Please go ahead. Thank you, Marvin, and good morning, everyone. Thank you for joining us for Calum's Q3 2026 conference call. Presented this morning are Patrick Houston, Chief Executive Officer, and Will Magic, Acting CFO. They will walk you through our Q3 results provide insight into the performance of our various businesses and share our outlook for the remainder of the year. As noted on slide 2, please be advised that certain information discussed today is forward-looking and subject to important risks and uncertainties. The results predicted in these statements may be materially different from actual results. As a reminder, all amounts are expressed in Canadian dollars, except as otherwise specified. With that, Let me turn the call over to Patrick.

Thank you, Jennifer, and good morning. We delivered an exceptional third quarter, achieving year-over-year growth that significantly exceeded any prior Q3 performance. Importantly, this growth was delivered from a meaningful, larger revenue base, making the magnitude of the results that much more important. Revenue grew 20% year-over-year, including 16% organically, driven by the continued strength of our defense and space solutions portfolio, and strongest results from essential industries. This top-line growth translated into significant operating leverage with adjusted EBITDA growing 35%, meaningfully outpacing revenue growth. The result reflects the combined benefits of higher volumes, stronger execution and a more focused and efficient operating model. We secured $168 million in new contract signings, bringing our year-to-date total to $660 million. We also recently announced a 15-year agreement valued at close to $300 million with Raytheon UK, a landmark contract that reflects the trust of our defence partners, place and our capabilities. This puts us on track for a second consecutive year of bookings exceeding $1 billion. Taking all these transactions into account, our pro forma backlog approaches $1.6 billion with approximately $1.3 billion of that in defence. Beyond strong financial performance and strong signings, we've also continued to take steps to strengthen our portfolio. At the end of June, we entered into an agreement to acquire Galaxy Broadband, further strengthening our portfolio in areas closely aligned with our strategic priorities. With our support by strong fundamentals and a growing backlog, we have built a compelling foundation to deploy additional capital and drive sustainable long-term growth. Now a few words on our operations. Let me begin with defense and space. Our defense and space segment continues to perform exceptionally well. The results reflect both discipline execution against our long-term strategy and the significant tailwinds across our end markets. In Q3, the segment delivered 20% revenue growth. Nearly all of it was organic. Approximately half of that organic growth came from our technology solutions across both defense and space. Importantly, this performance is not simply a function of favorable market conditions. It reflects deliberate investments we've made to strengthen and expand our product capabilities, and those investments are now translating into meaningful growth. The adjusted top-line performance translated into 25% year-over-year growth in adjusted EBITDA. I'd like to take a moment to provide a bit more color on the two recent strategic developments I mentioned earlier. Our 15-year, $300 million contract with Raytheon and our agreement to acquire Galaxy Broadband. On August 11th, we announced a 15-year agreement with Raytheon UK to support the British Army's collective training program. It's set to begin in October 2026, following the conclusion of the current Project Numidian contract. It provides nearly $300 million of contracted base revenue over the term with an additional variable component of comparable potential consistent with the structure of our existing agreement. This is one of Callion's largest defence training programs and its renewal deepens our commitment to allied military readiness across the UK and Europe. It's a strong validation of the trust our defence partners place in Callion's expertise. On June 25th, we announced a definitive purchase agreement to acquire Galaxy Broadband Communications, a Canadian leader in satellite communications and remote connectivity solutions. Galaxy is a highly strategic fit for Callian. The company has built a strong reputation delivering reliable connectivity to government, defense, and critical industry in remote communities across Canada. Its satellite communications and multi-orbit expertise directly complements our existing capabilities, while significantly expanding our ability to support customers operating in complex and remote environments, including the Arctic. On August 11, Crown Capital Debenture holders approved the transaction, clearing an important milestone towards closing. We expect the acquisition to close in the coming weeks, subject to the completion of the remaining closing conditions. Beyond our core operations, we're taking deliberate steps to expand Callion's role as an innovation partner, bringing together advanced technology, deep integration expertise, and real-world operational experience to solve some of our customers' most complex challenges. Three announcements this quarter, I think, that reflect that ambition. First, we launched Athora, a sovereign system of systems interoperability and orchestration platform built to accelerate military readiness and capability integration across C5 ISRT environments, marking Callion's evolution from service delivery to purpose-built defense platforms. The second I'd mention is the announcement of a cooperation with Cohere to evaluate and integrate sovereign AI solutions in defense environments, positioning Callion at the forefront of responsible AI adoption for our defense customers. And third, we announced the formation of Callion's first integrated Arctic Maritime Security Consortium, uniting six Atlantic organizations to deliver end-to-end maritime capability in support of Canada's evolving defense priorities. Taken together, these initiatives are more than a series of announcements. They're deliberate building blocks in our strategy, We're expanding Callion's role in the defense ecosystem and positioning the company to compete for and win larger and more complex opportunities as Canada and its allies accelerate investment in next-generation defense and security capabilities. The defense and space segment is performing at a high level and we believe we're still in the early stages of the opportunity ahead. Strong organic growth, landmark contract wins, the contribution from strategic acquisitions and a growing innovation portfolio give us increasing confidence in the long-term outlook. We are investing to match the scale of the opportunity. Expect Defence and Space to remain a significant driver of profitable growth for Callion in the years to come. Let me turn to Essential Industries. Our Essential Industries segment continues to build meaningful positive momentum with improvements across both revenue and margin. This progress is being driven by strengthening market fundamentals, better execution across our teams, and the successful integration of acquired capabilities into the broader CALIAN platform. In Q3, revenue increased 20%, reflecting strong organic growth. What began as a modest start to the year has steadily strengthened. Organic revenue growth accelerated to the high single digits in Q2 and crossed into double digits in Q3. This trajectory reflects improving demand primarily across our U.S. commercial business and nuclear services. On the inquisitive side, AMS has been a meaningful contributor to the quarter and has proved to be a strategic asset for this segment. It has meaningfully expanded our presence in the Arctic, a region of growing importance to our customers and to Canada more broadly, and provides a compelling platform to advance our longer-term strategy in this critical geography. On profitability, adjusted EBITDA increased 46% in Q3, with margins approaching 8%, on track with our target to exit FY26 in the high single digits. On a year-to-date basis, revenue increased 21% and adjusted EBITDA was up by 59%, demonstrating the operating leverage embedded in this business. Looking forward, I want to highlight several recent Canadian government sovereignty announcements that we believe are positive demand signals for this segment, specifically for our health and nuclear service businesses. On the health side, Canadian government has announced increased recruitment initiatives for the RCMP, CBSA, and other frontline public safety organizations. As these agencies work to expand their workforces and address staffing shortages, we expect this to translate into demand for our health services platform. Our national healthcare capabilities are well positioned to support these agencies, and we see this as a durable long-term tailwind for the business. On the nuclear side, Canadian government's nuclear energy strategy, which includes plans to develop up to 10 new reactors over the next 15 years, represents a potentially transformative long-term opportunity for our nuclear services business. The scale of investments contemplating this strategy is significant, and with our established expertise and deep industry relationships and proven capabilities in the nuclear sector, we believe Calion is exceptionally well positioned to be a meaningful participant in supporting Canada's nuclear ambitions over the coming decade and beyond. I'll now turn it over to Will to discuss Q3 financial results. Will?