Keyera Corp.

Good morning. My name is Dani, and I will be your conference operator today. At this time, I would like to welcome everyone to KIERA's 2025 fourth quarter and year end conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star, then the number one on your telephone keypad. If you would like to withdraw your question, please press the pound key. Thank you. I would now like to turn the call over to Dan Cuthbertson, General Manager of Investor Relations. You may begin.

Thanks, and good morning. Joining me today will be Dean Setaguchi, President and CEO, Eileen Maricar, Senior Vice President and CFO, Jamie Urquhart, Senior Vice President, Liquid Business Unit, and Brad Flusser, Senior Vice President, GMP, and NGL Pipeline Business Unit. We will begin with some prepared remarks from Dean and Eileen, after which we will open the call to questions. I'd like to remind listeners that some of the comments and answers that we will give today relate to future events. These forward-looking statements are given as of today's date and reflect events or outcomes that management currently expects. In addition, we will refer to some non-GAAP financial measures. For more information on non-GAAP measures and forward-looking statements, please refer to Ciara's public filings available on CDAR and on our website. With that, I'll turn the call over to Dean.

Thanks, Dan, and good morning, everyone. 2025 was a transformational year for Kira. We continued to demonstrate the strength of our fee-for-service business, delivering record results in both liquids infrastructure and gathering processing. These results were driven by higher utilization across our integrated system, which supports continued dividend growth. Kira's marketing business finished the year at the top end of a revised guidance. While results were below our long-term base expectations, we continue to view our marketing segment as a strategic differentiator that provides strong cash flow and in stronger market environments can deliver outsized contributions. This cash can be used to strengthen our balance sheet and accelerate growth by reinvesting in our fee-for-service business. During the year, we continue to advance our strategy of strengthening and extending our integrated value chain. We sanctioned three highly strategic and capital-efficient growth projects, including two FRAC expansions at KFS in addition to CAPS Zone 4. These projects are highly contracted and will continue to support growth and high-quality fee-based cash flow. These contracts demonstrate the competitiveness of our services. In June, we announced the transformational acquisition of the Plains Canadian NGL business. Once this highly strategic transaction closes, it will expand our national platform, strengthen our integrated value chain, and enhance our ability to better serve customers and partners across Canada. For Kiera, it will support further growth and long-term shareholder value. We continue to demonstrate disciplined portfolio management, completing two additional transactions. the addition of the additional gas plant capacity in the Simonette area, and the divestiture of our non-core wild horse asset. Together, these transactions reflect our continued focus on optimizing our asset base and recycling capital into higher return on strategy opportunities. I'll now briefly discuss the AEF outage. In mid-January, we announced an unplanned outage following the identification of an issue with a vessel on site. The safety of our employees, contractors, and integrity of the facility remain top priorities while the restart work continues. Repairs are underway and we expect a facility to be back to full production in May. Lastly, I want to touch on our recent organization changes. In preparation for the closing of the Plains transaction, we have reorganized our leadership reporting structure to better position the business for its next phase of growth and to drive competitiveness. Under the new structure, we'll operate with two business units supported by our existing enablement teams, and Brad Schleser now leads a GNP and NGL pipelines business unit And Jamie Urquhart leads the liquids business unit, which includes our liquids infrastructure assets and marketing business. These changes do not affect how we'll report our segmented financial results. Overall, 2025 was a year of strong execution. We have continued to build a more efficient and competitive platform that creates meaningful value for our customers and shareholders while positioning Kiera for long-term growth. With that, I'll turn the call over to Eileen to review our financial results and outlook.