Secure Waste Infrastructure Corp.

Good morning, ladies and gentlemen, and welcome to the Secure Energy Q3 2023 results conference call. At this time, all lines are in a 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 zero for the operator. This call is being recorded on Wednesday, November 1st, 2023. I will now turn the conference over to Alison. Please go ahead.

Thank you. Welcome to Secure's conference call for the third quarter of 2023. Joining me on the call today is Rani Amiro, our Chief Executive Officer, Alan Grant, our President, 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 and ratios that do not have any standardized meaning prescribed by GAAP and may not be comparable to similar financial measures or ratios 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 CEDAR 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 non-GAAP measures. Today we will review our financial and operational results for the third quarter of 2023 and our outlook for the remainder of the year in 2024. I will now turn the call over to Rennie for his opening remarks.

thank you allison and good morning everyone q3 was another strong quarter for our business showcasing secure's ability to generate significant free cash flow across our infrastructure network we record recorded adjusted ebitda of 158 million or 54 cents per share up eight percent from the prior year this robust performance enabled us to convert 66 percent of that ebitda into 104 million of discretionary free cash flow which we use to execute on our capital allocation priorities. Year to date, we have delivered an annualized 12% return to shareholders achieved through our 40 cents per share annualized dividend payment and the repurchase of 7% of our outstanding shares under the normal course issuer bid. These actions underscore our commitment to enhance returns to our shareholders complimented by our growth capital program this year. We were pleased to bring into service our clear water oil terminal and gathering infrastructure, and our Montney water disposal infrastructure expansion at the end of the third quarter, both of which are backstopped by commercial agreements. These growth projects were completed and safely commissioned on time and on budget and provide critical infrastructure for the handling of production volumes for our customers. Our infrastructure network maintains significant capacities for customers, accommodating increased volumes for processing, disposal, recycling, recovery, and terming with minimal incremental fixed costs or additional capital. We also continue to see strong opportunities with customers seeking further expansions based on reducing their costs and environmental footprint. Turning now to an update on the Competition Tribunal of Canada decision early this year ordering the divestiture of 29 facilities acquired from Terbita in 2021. The strategic combination of Secure and Terbita enabled The combined company to better serve our customers provided significant synergies and enhanced value to our shareholders and elevated our position to deliver on environmental and social sustainability initiatives. Despite the significant benefits brought to our customers, shareholders, and the communities where we operate, we received the decision of the Federal Court of Appeal in August that our appeal of the competition tribunal decision has been dismissed. Following the decision, we have proceeded with an appeal to the Supreme Court of Canada and are pleased that we've been granted a stay while the Supreme Court determines whether to appeal to hear the appeal. As a prudent course of action, Secure has also engaged an advisor with respect to a sales process of the 29 facilities in the event a hearing is not granted or the corporation is not successful in its appeal. Due to the uncertainty with respect to the timing of a hearing being granted or resolution of the matter, our board of directors and management continue to consider all options with respect to the tribunal's order to best serve our customers and other stakeholders. I'll now pass it over to Chad to go through financial highlights from the third quarter.