Secure Waste Infrastructure Corp.

Good afternoon, ladies and gentlemen, and welcome to the Secure Energy Quarter 1 2022 Results Conference Call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star 0 for the operator. This call is being recorded on Thursday, April 29, 2022. I would like to turn the conference over to Anil Agarwala. VP of Treasury and Investor Relations. Please go ahead.

Thank you, Grant. Welcome to Secure Energy's conference call for the first quarter of 2022. Joining me on the call today is Rennie Amaral, our President and Chief Executive Officer, Alan Grouch, our Chief Operating Officer, and Chad Magus, our Chief Financial Officer. During the call today, we will make forward-looking statements related to future performance, and we will refer to certain financial measures that do not have any standardized meaning prescribed by GAAP and may not be comparable to similar financial measures disclosed by other companies. The forward-looking statements reflect the current views of Secure with respect to future events and are based on certain key expectations and assumptions considered reasonable by Secure. Since forward-looking information addresses future events and conditions, by their very nature, they involve inherent assumptions, risks, and uncertainties and actual results could differ materially from those anticipated due to numerous factors and risks. Please refer to our continuous disclosure documents available on CDAR as they identify risk factors applicable to secure factors which may cause actual results to differ materially from any forward-looking statements and identify and define our known gap measures. I will now turn the call over to Rennie for his opening remarks.

Thank you, Anil, and good afternoon, everyone. Today, we will review our financial and operation results for Q1, followed by our outlook for the remainder of the year. The first quarter was another record for Secure, and our results continue to demonstrate the strength and scale of our expanded network and business model. Higher industry activity levels drove increased demand for our customer solutions. Synergies realized, and combined with our ongoing focus on managing costs, resulted in strong performance across our operations and a 200% and 15% year-on-year increase in Q1 adjusted EBITDA to $126 million. We also made significant progress with our deleveraging plan, paying down $90 million in debt, helping to reduce our total debt EBITDA to 2.9 from 3.4 at the end of Q4 2021. We are extremely pleased with the successful progress of the integration with Tervita, which is proceeding ahead of our plan and creating a stronger company. We have achieved $53 million of annualized cost savings, reaching 71% of our $75 million target after just nine months since the closing of the merger. Including savings on our bond refinancing, we have achieved $62 million of run rate pre-cash flow savings. I'm also pleased to report that we're releasing our 2021 report on sustainability next week, demonstrating our commitment to ESG, including putting safety first, minimizing the environmental impacts of our operations, and creating positive relationships with stakeholders in the communities where we live and work. In addition, the report solidifies our targets for water and emissions reductions and lays out our roadmap to achieving net zero greenhouse gas emissions by 2050, including reducing GHG emissions intensity by 15% by the end of 2024. We're encouraged by continued strong momentum through our operations with our increased free cash flow generation capabilities and a strengthened balance sheet We remain well positioned to meet our debt reduction targets and at the same time able to capitalize on growth at existing facilities and the continued positive trends of our industry. Chad will now walk us through the key highlights of our Q1 results, then Alan will review our integration plan update and operational highlights, and I will conclude with our outlook for the year.