EcoSynthetix Inc.

Good morning, ladies and gentlemen.

Thank you for standing by. Welcome to the EcoSynthetix 2025 fourth quarter and year-end results conference call. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question and answer session. Instructions will be provided for you at that time for questions. If anyone has any difficulty hearing the conference, you may press star zero for operator assistance at any time. Listeners are reminded that portions of today's discussion may contain forward-looking statements that reflect current views with respect to future events. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. For more information on Ecosynthetix risks and uncertainties related to these forward-looking statements, please refer to the company's annual information form dated February 17, 2026, which is posted on CEDAR. This morning's call is being recorded on Friday, February 20th, 2026 at 830 a.m. Eastern Time. I would now like to turn the conference over to Mr. Jeff McDonald, Chief Executive Officer of EcoSynthetix. Please go ahead, sir.

Thank you. Good morning, and thank you all for joining us today. Yesterday afternoon, we reported our 2025 fourth quarter and year-end results. Sales were up 9% in the quarter compared to the same period last year. And they were up 12% for the year. We also reported our first full year of positive adjusted EBITDA with $400,000 for the year, an improvement of more than $1.3 million from fiscal 2024. What's most exciting to us in those numbers is that the growth is coming from where we want it to. Our three key strategic end markets, pulp and tissue, wood composites, and personal care, each posted record results. showing significantly more growth than the overall business. The growth from the new strategic end markets in 2025 more than eclipse the erosion in the legacy end markets. Our diversified product strategy is working. We've illustrated our progress here on page four of the presentation. Our sales into the strategic markets, which we define as pulp, tissue, specialty packaging, wood composites, and personal care, is now more than 70% of the business. At the same time, our sales into the graphic paper end market, which was 60% of the business in 2021, is now less than 30%. That is a dramatic transition. This strategic shift has also made a significant improvement to our margins given the value our offerings provide to our customers in these strategic markets. So what's driving that momentum? We now have 15 lines running our surf lock products to enhance fiber strength in pulp-based applications. We've won eight of those new commercial accounts in 2025, which shows that the momentum is building. The distribution and service provider partners that we're working with are telling us they haven't seen a new chemistry crash the scene like this in a very long time. The ability for Surflok to convert customers has our partners all very excited at a time when their customers are asking for solutions to the growing challenges with fiber availability and cost. We appreciate that it may not feel like we're moving fast enough for investors, and we share your appetite for faster growth. The service provider and distribution partners have the context of the pace and what it takes to make change in the pulp and paper industry, and they're excited. The tissue end market is moving faster for us, as the lines there are smaller in scale with less complexity in their fiber mix. Given this scale, they also represent smaller opportunities for us in terms of volume, but there are more of them. These lines typically use hundreds of thousands of dollars' worth of our material annually. And these earlier wins are building experience and confidence within our network. Our impact is clearly happening rapidly when we introduce SurfLock. We address the supply shortage and high cost of long fiber by working with shorter fiber that is less expensive and more available now and in the future. By using our surf-lock strength aids, the manufacturers are able to increase the strength of the final product with less expensive fiber and achieve further benefits in production efficiency, energy usage, and in some cases, improve product quality. We continue to explore new distribution partners in this area as well. The success of our partners is helping to drive the awareness of Surflock globally. Even since our last call, we've made progress with multiple new partners, with some progressing from lab work to mill trials in a relatively short timeframe. The momentum in the tissue end market is clearly taking hold. The pulp end market is a large opportunity. Our first commercial account is a top global pulp manufacturer. We believe the pulp end market will be one of the major growth drivers of the business. Our basis for that belief isn't our forecast. It's what our strategic account is telling the market. We aren't making it any better or worse. We're just piggybacking on what they're saying publicly. Amid a fairly cautious sentiment from them about the pulp and paper industry overall, They've made a specific point of saying this does not impact their belief and the investments they've made in the enhanced pulp offering and their value-added products. They've provided greater granularity on their pipeline of opportunities. They've shown how onboarding one of their customers to enhanced pulp is a step-by-step conversion and a significant process of change. These large-scale lines don't switch chemistries like a light switch. In painting this picture for the market of what they've accomplished to date and what they see as the opportunity going forward, they recently updated their addressable market for enhanced pulp, increasing it by 50% from what they were reporting just six months ago. It's important to mention that they became a commercial account of ours just one year ago, introducing a brand new product to the market in an industry that takes some effort to change. And in that short period of time, they've already grown to become one of our top five accounts with the opportunity to grow much larger in the near term. This is still the early innings, but you start to get a sense for their belief in the value they're bringing to the market. They're winning new business by turning pulp from a commodity into an innovation that delivers greater value to their customers by reducing cost, which is why our account is making the investment they're making and increasing their addressable market. And we couldn't be more excited about that. We believe our strength aids have a compelling value proposition across the pulp, tissue, and packaging end markets. We know these markets and the players in them well. We've spent years building relationships and trust through both our earlier legacy offerings and now our strength aids with the largest players in the market. This puts us in a great position to continue to grow our pulp-based offering. On Wood Composites, we posted significant growth in this end market for the year. The international retailer, which is a key account of ours, continues to make steady progress. We helped them improve their economics through the course of the year with continued innovation on our end. At the same time, the commodity markets were favorable as well, which supported the value we offer. The economics were instrumental in the improved uptake that we saw from them, and through the start of the year, it's steady as it goes. Our primary role today is to help support them as they push to make good on their 2030 commitments to move to bio-based glues across their own network and with their supply chain. As a reminder, they produce approximately 30% of their own wood panels with the remainder procured from other suppliers. There is a tremendous amount of work to be done to achieve that 2030 target. We're engaged with both the international retailer and their other suppliers. And we've already done a significant amount of technical work with the other suppliers. We're at a stage now where it's a discussion between the retailer and their suppliers on how they want to move forward together. We're by their side helping to drive the agenda and smooth any potential hurdles to adoption. On the personal care front, we saw record volumes in the fourth quarter and in fiscal 2025 albeit still off a small base in earlier years. Our development and marketing partner, Dow, is excited by the progress they're making in building this channel. The shift to all natural ingredients remains a top driver in personal care. We believe some of the more recent volumes were building inventory at Dow as they prepare to enter a new region with their maize care offering. We continue to believe pulp tissue and wood composites are the core needle-moving end markets for us. Personal care is a warrant on our foundational growth markets. However, based on Dow's engagement and progress, I'm becoming even more confident in the opportunity for us in personal care. With that, I'll turn it over to Rob to review the financials. Rob?