Gibson Energy Inc.

Good morning, everyone. Welcome to the Gibson Energy Third Quarter 2026 conference call. Please be advised that this call is being recorded. I would now like to turn the meeting over to Tom Hades, Manager, Capital Markets and Treasurer. Mr. Hades, please go ahead.

Thank you and good morning, everyone. We appreciate you joining us this morning to discuss Gibson's Third Quarter 2026 results. Joining me today is Curtis Philippon, President and Chief Executive Officer and Riley Hicks, Senior Vice President and Chief Financial Officer. Before we begin, I'd like to remind listeners that today's call will include references to non-GAAP financial measures and forward-looking information, which are subject to certain assumptions and risks. Additional information, including reconciliations of these measures and related disclosures, is available in our investor presentation and continuous disclosure documents on CDAR+, as well as on our website. With that, I'll now turn the call over to Curtis.

Thank you Tom and good morning everyone. We had a great third quarter with record infrastructure and consolidated adjusted EBITDA and very strong marketing results. I'll start as always with safety and execution. Safe and reliable operations are foundational to everything we do at Gibson. During the quarter, our team safely completed the operational integration of Chauvin and brought the final components of Wink the Gateway into service. while continuing to operate reliably and deliver for our customers. As our growth program builds, maintaining that execution discipline will remain critical. Wink to Gateway is a good example. The project is now complete and in service. We completed the twinning of the harvest connection at Gateway earlier this year, and the new 100,000 barrel tank at Wink is now in service. Together, those investments complete the integration and de-bottlenecking work between the two assets. We are already seeing the expected operating benefits. Gateway continues to deliver in a challenging export market. Historically high tanker rates and broader disruption in global crude shipping are affecting export economics and changing customer shipping patterns. Our team has worked closely with customers and remained flexible as the market has changed. That customer focus, together with Gateway's ability to accommodate a range of vessel sizes and operating requirements, has allowed the terminal to continue to deliver despite the difficult backdrop. We do not expect freight rates to normalize quickly. Over time, we expect growing Permian production, improved connectivity, and a more normal shipping environment to position Gateway for meaningful additional upside. More broadly, the disruption in global energy markets is reinforcing the importance of secure and reliable North American production. and Gateway helps our customers connect that supply to the world. Turning back to Canada, Chauvin has exceeded our initial expectations. Production in the Manville remains strong and we are seeing potential opportunities to bring additional barrels into the system and ultimately through Hardesty. The Hardesty connection remains on track for completion in the first half of 2027. Today, we are also announcing that we have sanctioned the Chauvin expansion project. The project will increase system capacity by approximately 50% upon completion and is supported by strong commercial interest. We'll advance the expansion work through 2027. We also see potential opportunities to add producer connections and laterals over time. This is exactly what we expected Chauvin to do, extend our reach into the basin, bring more barrels into our network, and create additional value at Hardesty. The market has also demonstrated the value of our integrated platform. Strong crack spreads created attractive opportunities at Moose Jaw, while wider Canadian heavy crude differentials increased the value of the terminaling, logistics, and market access services we provide across our network. Strong Canadian production, higher Venezuelan heavy crude imports into the US Gulf Coast, high tanker freight rates, and pressure on available pipeline capacity have combined to produce some of the widest Canadian heavy crude discounts we've seen in recent years. Those conditions create real challenges for our producer customers. Our role is to help them work through those challenges, access the best available markets, and improve their netbacks. Across our Canadian and US network, terminaling, logistics, pipeline connectivity, and market access give customers options when markets are disrupted. At Hardesty, Our connections to crude by rail and diluent recovery services provide additional flexibility when pipelines are apportioned and differentials widen. Our marketing team works alongside those physical assets to develop practical solutions for our customers, access the best available markets, and improve their netbacks. The assets create flexibility, and the marketing team helps customers use it. Looking beyond the quarter, The need for additional Canadian infrastructure is becoming increasingly clear. Production continues to grow, existing transportation systems are operating under increased pressure, and industry attention is turning towards the next wave of egress. For Gibson, we do not need to predict which major pipeline moves first. All pipes are good pipes. More production and more egress create demand for gathering, connectivity, terminaling, and market access. With our positions at Hardesty and Edmonton, Gibson is well placed to benefit regardless of which projects proceeds and when. We are already seeing that translate into increased commercial activity. A number of opportunities have advanced meaningfully since Investor Day. There's still work to do and every project must have the right customer support and meet our return thresholds. But the quality and scale of opportunities that continues to improve and we expect to have more to see as those discussions progress. That growing opportunity set reinforces the targets we presented at Investor Day. We are targeting average annual infrastructure adjusted EBITDA per share growth of at least 7% through 2030. We continue to see a path to deploy up to $1 billion of growth capital across storage, pipeline, producer connections, and new services, while also getting more from the assets we already own. We will remain disciplined. but we also intend to move with urgency when the right opportunities are in front of us. Overall, it was a great quarter. We delivered record results, completed Wink the Gateway, sanctioned the Chauvin expansion, and continued to advance an increasingly attractive infrastructure opportunity set. And with that, I'll turn the call over to Riley.