CGI Inc.

Good morning, ladies and gentlemen. Welcome to CGI's fourth quarter fiscal 2026 conference call. I would now like to turn the meeting over to Mr. Kevin Linder, SVP of Investor Relations. Please go ahead, Mr. Linder.

Thank you, Joelle, and good morning. With me to discuss CGI's fourth quarter and fiscal 2025 results are Francois Boulanger, our president and CEO, and Steve Perron, executive vice president and CFO. This call is being broadcast on CGI.com and recorded live at 9 a.m. Eastern Time on Wednesday, November 5th, 2025. Supplemental slides as well as a press release we issued earlier this morning are available for download along with our fiscal 2025 MD&A audited financial statements and accompanying notes, all of which have been filed with both Cedar Plus and Edgar. Please note that some statements made on the call may be forward-looking and Actual events or results may differ materially from those expressed or implied, and CGI disclaims any intent or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. The complete safe harbor statement is available in both our MD&A and press release, as well as on CGI.com. We recommend our investors read it in its entirety. We're reporting our financial results in accordance with international financial reporting standards, or IFRS. As always, we will also discuss non-GAAP performance measures, which should be viewed as supplemental. The MD&A contains definitions of each one used in our reporting. All of the dollar figures expressed on this call are Canadian, unless otherwise noted. Now I'll turn the call over to Steve to review our Q4 financials, and then Francois will comment on our full-year performance and business and market outlook.

Steve. Thank you, Kevin, and good day, everyone. In our fourth quarter of fiscal 2025, we continue to demonstrate discipline in the management of our operation while effectively executing on our strategy of deploying capital to generate superior long-term return on investment for our shareholders. This starts with our profitable SINC offering that we grow organically and are with M&A. Second, to bring our managed services and IP offering to existing or new clients to help them be more efficient. This offering resonates strongly during this more challenging economic period. Finally, our strategy focused on investing in CGI with our share buyback program to increase our EPS while returning cash to our shareholders. In the quarter, we delivered $4 billion of revenue, up 9.7% year-over-year, or up 5.5% when excluding the impact of foreign exchange. Growth was driven by our recent business acquisition and continued demand for our APAC delivery centres, with this segment reporting growth of 6.4%. There was also some planned runoff of lower margin work from recent acquisitions. In our UK and Australia segment, with our acquisition of BJSS, growth was 28%. This acquisition adds further scale to our UK operations and we can now showcase the breadth of CGI's end-to-end services to new clients. Across our U.S. segments, combined growth was 5.7%, primarily driven by our Aon and Doherty merger investments, and our pipeline of opportunities continues to increase as we bring our managed services, IP, and offshore delivery capabilities to our new client relationships. IP remains steady sequentially at 20.5% of our total revenue, even as we add a larger proportion of non-IP revenue from recent business acquisitions. The vast majority of our IP continues to be delivered through recurring revenue streams. Bookings in the quarter were close to $4.8 billion for a book-to-bill ratio of 119%, led by U.S. Federal at 185%. U.S. commercial and state government at 136%, and Western and Southern Europe at 117%. Of the total booking in the period, 45% were for new business. On a trailing 12-month basis, book to bill was 110%, with North America at 120% and Europe at 102%. On the same basis, Managed services had a book-to-bill ratio of 120% and the SINC book-to-bill ratio was 99%. IP book-to-bill was 107%. Our contracted backlog reached $31.5 billion or two times revenue. Turning to profitability. Adjusted debit in the quarter was $667 million, up 11.2% year-over-year, for an industry-leading margin of 16.6%, up 20 basis points. Including restructuring acquisition-related costs of $122 million, earnings before income taxes were $516 million, for a margin of 12.2%. Our effective tax rate in the quarter was 26.1%, 30 basis points less than last year, and we expect our tax rate for future quarters to be in the range of 26 to 27%. Adjusted net earnings were $472 million, up $33 million year over year, for a margin of 11.8%. On the same basis, diluted EPS was $2.13, an accretion of 11% when compared to Q4 last year. Net earnings were $381 million for a margin of 9.5% and diluted EPS was $1.72 impacted by restructuring and acquisition-related costs in the quarter. We finalized our restructuring program and related expenses in the quarter. Turning to cash, we generated $663 million in our cash from operations representing 16.5% of total revenue, even when incorporating $43 million in restructuring, acquisition and related integration payments. The ESO was 45 days in the quarter compared to 41 days in the prior year, impacted by recent business acquisitions. In Q4, we continued to allocate our capital and invested $81 million back into our business, which includes strategic investments in Agentech and GenAI, $250 million on business acquisitions, $491 million to buy back our stock. And in addition, we returned $33 million to our shareholders under our dividend program. Yesterday, our board of directors approved a quarterly cash dividend of 17 cents per share, representing a 13% increase. This dividend is payable on December 19, 2025 to shareholder of records as of the close of business on November 21, 2025. With $2.4 billion in capital resources readily available and a net debt leverage ratio of 1, CGI has the balance sheet strength and capacity to deliver on our profitable growth strategy. CGI's capital allocation priorities have remained consistent, focused on investing back in the business and pursuing accretive acquisitions. Additionally, we expect to remain very active in our repurchase program. Now, I will turn the call over to François to further discuss insights on the year and the outlook for our business and markets. François.