Gibson Energy Inc.

Good morning, everyone, and welcome to the Gibson Energy First Quarter 2026 conference call. Please be advised that this call is being recorded. I would now like to turn the meeting over to Beth Polak, Vice President, Capital Markets and Corporate Development. Ms. Polak, please go ahead.

Thank you, and good morning, everyone. Thank you for joining us to discuss Gibson Energy's First Quarter 2026 results. Joining me on the call today are Curtis Philippon, President and Chief Executive Officer, and Riley Hicks, Senior Vice President and Chief Financial Officer. Additional members of our senior management team are also present to assist with the question and answer portion of the call. Listeners are reminded that today's call will reference non-GAAP financial measures and forward-looking information, which are subject to certain assumptions and risks. Descriptions and reconciliations of these measures, as well as related disclosures, are available in our investor presentation and continuous disclosure documents on CDAR Plus and on our website. I will now turn the call over to Curtis.

Thank you, Beth, and good morning, everyone. I'm pleased to be here today to discuss Gibson's first quarter of 2026 results. Before getting into the quarter, I want to start with something that we're proud of at Gibson. This quarter, we reached a major milestone at our gateway terminal, safely loading our one billionth barrel. This achievement speaks volumes about the strength of our operations team, the trust of our customers, and most importantly, the commitment of our people to safety and execution excellence every single day. Turning to the quarter, the macro environment was certainly eventful. We've all been reminded of the important role North America plays in supplying the world with reliable energy. Gibson's crown jewel assets are a critical part of this energy supply chain. Geopolitical developments created some headwinds. Unpredictable and chaotic markets make it challenging for customers to make long-term commitments. Shipping availability and market uncertainty temporarily disrupted exports from gateway customers and negatively impacted infrastructure results in the first quarter. This export disruption was a temporary trend that we are now seeing reversing in the second quarter. Gateway volumes have increased and we expect to be setting new volume records, including pushing close to one million barrels per day in the back half of the second quarter. In December, we outlined our strategy at the investor day. Central to that strategy was a growth plan to achieve an over 7% infrastructure EBITDA per share growth rate through the deployment of capital across five different verticals and unlocking capital-free upside through the increased optimization of the business. The team has made impressive progress advancing this strategy. A few of the most meaningful steps we have taken were on people, progressing the Wink the Gateway project, and closing the Chauvin acquisition. First on people, we're continuing to build out our US commercial and marketing team, including adding Andrew Morales in our Houston office to lead our US marketing business. This investment expands our capabilities and has been instrumental in sourcing incremental supply and enabling volume for our customers at Gateway. During the quarter, we took an important step forward towards achieving the 2% capital-free upside target we outlined at Investor Day with the completion of an organizational restructuring, which reduced our headcount by 10% and will drive an annual gross cost savings of approximately $10 million in 2027. The changes increased the customer focus of our teams, reduced overhead, and reinforced our high performance culture. The leaner organization now has both the customer focus and cost competitiveness necessary to win. Secondly, the Wink to Gateway growth capital projects that were sanctioned at Investor Day are tracking well. These projects involve adding additional tank capacity at the Wink terminal and twinning a pipeline connection at Gateway. The basis for these projects is sourcing additional supply and removing bottlenecks to deliver more volume to Gateway customers. These were strong projects when they were sanctioned, and now in this crude export market, they're even more valuable. And finally, in Hardesty, the successful closing of the $400 million Chauvin acquisition is a milestone moment for Gibson. The acquisition includes a crude oil pipeline and associated infrastructure assets that connect Chauvin to the Hardesty oil hub, increasing our reach into the growing Manville stack area. Supported by long-term agreements, the assets add stable contracted cash flows and provide a clear runway for additional optimization and growth capital deployments. Concurrent with closing, we sanctioned the hardest deconnection project. We've also started engineering work on a pipeline expansion project, which will increase effective capacity from 30,000 to 45,000 barrels per day. We anticipate sanctioning this expansion later this year. We expect to begin realizing the benefits from the acquisition in the second quarter. The integration work has gone smoothly, and we are excited to welcome Chuck Cron's Chauvin Operations Team to Gibson. And with that, I'll turn the call over to Riley.