Keyera Corp.

Good morning, my name is Jenny, and I will be your conference operator today. At this time, I would like to welcome everyone to CAIR's 2026 Second Quarter 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 1 on your telephone keypad. If you would like to withdraw your question, please press star, then the number 2. Thank you. I would now like to turn the conference call over to Dan Cuthbertson, General Manager of Investor Relations. You may begin.

Thanks, and good morning. Joining me today will be Dean Setoguchi, President and CEO, Eileen Marikar, Senior Vice President and CFO, Jamie Urquhart, Senior Vice President, Liquid Business Unit, and Brad Slessor, Senior Vice President, GMP and NGL Pipeline Business Unit. We'll 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 additional information on non-GAAP measures and forward-looking statements, please refer to GRS public filings available on CDAR and our website. With that, I'll turn the call over to Dean.

Thanks, Dan, and good morning, everyone. This quarter, we successfully closed two strategic acquisitions, the Plains Canadian NGL business and the remaining 50% interest in TAFs. These acquisitions are part of a strong foundation we have assembled for the next phase of disciplined growth and long-term value creation. Our focus now turns to integrating these investments, executing our growth projects, and delivering greater value to customers and shareholders. Our team is working hard on integrating the Plains business and continues to make meaningful progress on identifying and delivering synergies. We will continue to provide updates as that work progresses. After the quarter, KIERA also submitted its response to the Competition Tribunal. regarding the Competition Bureau's notice of application. Because this is an ongoing litigation, we are limited in what we can say, but remain confident in the strength of our case and look forward to demonstrating the value creation that will result from this transaction. Turning to our quarterly results. In gathering processing, we delivered a new quarterly record for realized margin driven by strong contributions across the segments. We also set a new quarterly realized margin record in liquid infrastructure, reflecting contributions from the Plains Canadian NGL business. We continue to deliver and advance our growth projects. KFS Rack 2 eBottleneck was brought into service in early June, more than one month ahead of schedule and 20% below its original budget. KFS North eBottleneck, KFS Rack 3, Capstone 4, and Ace Rail Terminal continue to progress well, all on time and on budget. These projects are highly contracted and will contribute to growth and stable fee-for-service cash flow, supporting the strength of our balance sheet, and long-term dividend sustainability. Yesterday, the Board approved another 4% annual increase in the dividend. Dividend increase reflects our confidence in the business and allows us to preserve our balance sheet strength and Financial Flexibility to invest in further fee-based growth. Now turning to AEF, the facility was restarted at the beginning of June and has been performing well. We continue to view this asset as an important part of our integrated value chain and a meaningful contributor to CARE's long-term value creation. During the outage, we completed a comprehensive review of the facility and its associated operating plan and have identified opportunities to strengthen performance and reliability. Our objective is to maximize iso-octane production over the full four-year cycle while maintaining our focus on safe, reliable, and efficient operations. With that, I'll turn the call over to Eileen to discuss the commercial results and outlook.