Finning International Inc.

Thank you for standing by. This is the conference operator. Welcome to the Finning International Inc. First Quarter 2026 Investor Call and Webcast. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. Analysts who wish to join the question queue may press star then 1 on their telephone keypad. Should you need assistance during the conference call, you may reach an operator by pressing star then zero. I would now like to turn the conference over to David Primrose, Executive Vice President and Chief Financial Officer. Please go ahead.

Thank you, operator. Good morning, everyone, and welcome to Finning's first quarter earnings call. Joining me on today's call is Kevin Parks, our President and CEO. Following our remarks, we will open the line to questions. This call is being webcast on the investor relations section of Finning.com. We have also provided a set of slides on our website that we will reference and an audio file of this call and the accompanying slides will be archived. Before I turn it over to Kevin, I want to remind everyone that some of the statements provided during this call are forward-looking. Please refer to slides 10 and 11 for important disclosures about forward-looking information as well as currency, and specified financial measures, including non-GAAP financial measures. Please note that forward-looking information is subject to risks, uncertainties, and other factors as discussed in our annual information forum under key business risks and in our MD&A under risk factors and management and forward-looking information disclaimer. Please treat this information with caution as our actual results could differ materially from current expectations. In addition, unless otherwise noted, this presentation reflects the results of continuing operations only. Kevin, over to you.

Thank you, Dave, and good morning, everyone. Thank you for joining us, and thank you to our teams, our customers, and Caterpillar for your hard work, support, and partnership. Let me start with the headline. Finley's Executing. We delivered our strongest Q1 adjusted EPS of $1.02. Year-over-year product support grew for the eighth consecutive quarter, and we maintained our disciplined approach to cost and capital allocation. Most importantly, we continue to build the installed base and backlog in our operating regions, driving long-term product support opportunities and value. Helping our customers solve their toughest challenges and increase the performance from their investments is the foundation of what we do, which in turn helps build population, improve utilization, and increase product support opportunities. As with the last quarter, my prepared remarks will concentrate on the long term. I'll then turn the call over to Dave, who will provide details on our results in the quarter. Please turn to slide two. Momentum from 2025 carried into Q1. Revenue was $2.5 billion, driven by strong product support growth, up 6% globally and 13% in Canada. Our mining business is a real strength. Over the past two years, we increased the Canadian large mining truck population by 25%. These assets operate in high intensity applications and create decades of product support opportunities. Mining in Chile moderated as expected, driven by a few of our large mining customers who are recalibrating their mining plans and equipment requirements. We are excited about mining in Argentina. Last week, I attended a very important mining conference in the San Juan province, and we are pleased to see investments starting to flow. Backlog was up 32% year over year, up in all segments, most notably more than doubling in mining and power and energy in Canada. Sequentially, backlog is up 20% from December 31st, 2025, opening all regions driven by Canada mining. I want to highlight our power and energy business. Backlog ended in the quarter at $1.2 billion across prime power, oil and gas, and data center standby solutions. Similar to mining, engines deployed within our operating regions create a long-term population and product support opportunity with customers where our penetration is high, even in standby applications. It is also pleasing to see construction backlog building in all regions, with South America and the UK and Ireland both up more than 50% since the end of the year. Construction performance remains solid across all regions, despite the lack of any shovel-ready major projects. We are controlling what we can by expanding coverage and taking share.