Mattr Corp.

Good day, and thank you for standing by. Welcome to the MATTER fourth quarter 2025 results webcast and conference call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Megan McCackren, Vice President of Investor Relations and External Communications. Please go ahead.

Good morning. Before we begin this morning's conference call, I would like to take a moment to remind all listeners that today's call includes forward-looking statements that involve estimates, judgments, risks, and uncertainties that may cause actual results to differ materially from those projected. The complete text of Matter's statement on forward-looking information is included in Section 4.0 of the Fourth Quarter 2025 Earnings Press Release in the MD&A that is available on CDAR Plus and on the company's website at matter.com. For those joining via webcast, you may follow the visuals presentation that accompanies this call. I'll now turn it over to Matter's President and CEO, Mike Reeves.

Good morning, and thank you for attending our fourth quarter conference call. Today, Megan and I are joined by our Senior Vice President of Finance and CFO, Tom Holloway. MATA delivered a strong finish to the year. Rising operational efficiency and opportunistic sales, particularly in Xerxes, FlexPipe, and AmarCable, minimized normal late-year seasonal slowing and drove Q4 adjusted EBITDA to more than double versus the prior year quarter. Operationally, we extracted further performance improvements from our newly established sites, a trend that has continued into early 2026. Our teams remain nimble, resilient, and cost-conscious in the face of an ever-shifting business environment, and we continue to focus on those variables we can control. Across matter, we are consistently prioritizing those actions and investments necessary to enable sustained technical differentiation, production flexibility, and progressively greater operational efficiency. Turning to the full year, 2025 was a year of unprecedented disruption. As we executed our growth, technology development, and operational improvement strategies, the world around us rapidly evolved, a trend that has continued in 2026. Despite this, Massa delivered meaningful year-over-year growth in revenue and adjusted EBITDA, driven primarily by the successful early year acquisition of Amacable and significantly improved results from Xerxes. We were effective in executing our 2025 strategic priorities, nimble in mitigating direct tariff impacts, and continued to advance those initiatives that matter most to our long-term growth. However, there were some areas where operational execution fell short of our expectations, and slowing in certain end markets, particularly the Canadian industrial wire and cable sector, demanded an accelerated shift of resources and focus. While these challenges impacted 2025, the actions taken in response have already driven improvements and position matters to deliver more consistent performance going forward. Our composite technology segment reported a modest full-year adjusted EBITDA increase in 2025. Despite significant oil field activity level declines, flex pipe results were stable as the business successfully levered new, larger diameter products to onboard additional customers and gain market share. Within Xerxes, improved manufacturing efficiency allowed greater capture of customer spend as strong demand for underground fuel and water tanks continued, driving year-over-year business growth. The segment also benefited from the absence of one-time modernization, expansion, and optimization costs, which impacted 2024. Entering 2026, FlexPipe is positioned to continue gaining market share, including through the addition of seven and eight inch products, for which we have already secured our first commercial order, and Xerxes is expected to further accelerate productivity across its manufacturing network, enabling another year of profitable Connection technologies benefited greatly from the addition of AmerCable in 2025, which drove a significant rise in full-year adjusted EBITDA. Successfully completing this highly accretive acquisition, moving efficiently through an onboarding protocol, and positioning the experienced AmerCable leadership team to outperform our first-year expectations was a significant accomplishment. AmerCable's strong performance offset a number of challenges within the segments Legacy DSG Canoosa and ShoreFlex businesses during the year, where performance was impacted by one-time modernization, expansion, and optimization costs, by ramp-up challenges in a newly established DSG Canoosa Ohio facility, and by late-year Canadian industrial wire and cable market softening. Q4 saw solid productivity and efficiency gains in the DSG Ohio site and accelerating U.S. utility market share capture within ShoreFlex, progress that has continued in the early part of 2026. In a year of escalating and constantly shifting trade friction, our teams demonstrated their agility by rapidly realigning supply chains, ultimately allowing the company to avoid material direct impacts from tariffs during 2026. I would like to thank our employees who worked so hard throughout the years to overcome these challenges. We are a stronger organization for it and I have confidence we are positioned to navigate whatever external factors 2026 may bring while maximizing performance by focusing on the things we can control. Tom will now walk us through some additional financial details.