NFI Group Inc.

Good day, and thank you for standing by. Welcome to the NFI Fourth Quarter 2025 Financial Results Conference Call. At this time, all participants are in 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. You may also submit questions via the webcast. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Stephen King, Vice President, Strategy and Investor Relations. Please go ahead.

Thank you, Shannon. Good morning, everyone, and welcome to our conference call. Joining me today are John Sapp, President and Chief Executive Officer, and Brian Dusnip, Chief Financial Officer. On today's call, we will give you an update on our annual and quarterly results, highlighting our record year in 2025 for NFI. You'll also hear from John on his first few months as CEO and his top priorities coming into the year. This call is being recorded and a replay will be made available shortly. We will be referring to a presentation that could be found in the financials and filing section of the NFI Group website. As we move through the slides via the webcast link, we will call out the slide number. On slide two, we provide our cautionary or forward-looking statements and note that certain financial measures referenced today are not recognized earnings measures and do not have standardized maintenance prescribed by International Financial Reporting Standards, or IFRS. We advise listeners to view our press releases and other public filings on CDAR for more details. In the appendix of this presentation, we have provided a list of key terms and definitions that will be used on today's call. A reminder that NFI statements are presented in U.S. dollars, the company's reporting currency, and all amounts referred to are in U.S. dollars, unless otherwise noted. Slides three and four provide a brief overview of our company. NFI is a global independent bus and motor coach manufacturer and total mobility solutions provider. We offer a wide range of buses and coaches on proven platforms, and we hold leading positions in transit and coach markets with the strongest aftermarket network in North America and the UK. More detailed information is available on the NFI Group website. Slide five provides some brief insight into NFI's product and geographic mix and other milestones.

I'll now pass the call over to John. Thanks, Stephen, and good morning, everyone, and thank you for joining us today. I'm going to pick up on slide seven. It's been just over two months since I started with NFI, and in that time, I've had the opportunity to see firsthand what makes this organization a leader in the markets we serve. I've visited numerous facilities across our network in the US, Canada, and UK, and I've had the opportunity to work closely with the leadership team to get alignment on our priorities for the year. What drew me to NFI was the critical role that the company plays in driving cities, economic activity, environmental progress, and enabling connections. NFI's purpose is to move people, and I've seen our team's commitment to that mission every single day since I've arrived. Whether it's mobilizing actions to support customer deliveries, executing field service activities, providing aftermarket parts, completing complex engineering, or fabricating components for buses, the team at NFI remain focused on the end goal of supporting customers to ensure they can keep their passengers and riders moving safely. I'm honored to be following Paul Subri in this role. The legacy of his outstanding 17-year tenure will forever be a part of the NFI group. While we wish him all the best in his retirement, I'm also pleased that he will remain available to us and myself as an advisor going forward. As incoming president and CEO, my focus has not changed for the sake of change, while I also want to make it clear that status quo is not the plan. While we are well positioned for success with a strong $13 billion backlog, a very positive demand outlook, and foundational aftermarket business, I also want to bring new perspectives and fresh ideas to the business and our longer-term plan. The leadership team and the board have developed a multi-year financial plan that will see NFI continue to grow, and I'm committed to making sure that we deliver and execute to our expectations. I'll now pass it over to Brian to go through the fourth quarter results before we get into a detailed look at our outlook.