Secure Waste Infrastructure Corp.

Good morning, ladies and gentlemen, and welcome to the Secure Waste Infrastructure Corp Q1 2026 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 the call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, April 30, 2026. I would now like to turn the conference over to Chad Nagus. Please go ahead.

Thank you, and good morning to everyone who is listening to the call. Welcome to Secure Waste Infrastructure Corps' conference call to discuss our first quarter 2026 results. I'm Chad Magus, Chief Financial Officer. Joining me on the call today are Alan Granch, our President and Chief Executive Officer, and Corey Haim, our Chief Operating Officer. During the call, we will make forward-looking statements, relate to future performance, and refer to certain non-GAAP financial measures do not have standardized meaning under IFRS and may not be comparable to similar measures disclosed by other companies. Forward-looking statements reflect management's current expectations and are based on assumptions that we believe are reasonable. However, actual results may differ materially due to the number of risks and uncertainties. Please refer to our disclosure documents available on CR-Plus for further details of these risks and for definitions and reconciliations of non-GAAP measures. Today we will focus on three areas the GFL transaction and shareholder meeting, an overview of Q1 performance and key financial highlights, and an outlook for the remainder of 2026 and beyond. I'll now turn the call over to Alan.

Thanks, Jeff. Good morning and thank you for joining the call today. I'd like to start with our recently announced transaction with GFL Environmental and the materials filed this week in connection with the upcoming shareholder meeting. This transaction delivers immediate and certain value to shareholders at an attractive valuation, including a meaningful premium to our recent trading levels, while also providing continued participation in future upside through equity ownership in the combined company. The Board unanimously recommends that shareholders vote in favor of the transaction following a comprehensive review of strategic alternatives. In making this recommendation, the Board considers the opportunity to crystallize the value created at Secure, the ability to participate in future value creation through GFL equity, alignment with a proven entrepreneurial management team, as well as limited number of alternative transactions available and the relative risk-adjusted value of continuing as a standalone business. The Board also considers that GFL shares are currently trading below historical levels. and, in its view, do not fully reflect the underlying value of the business, providing potential for future re-rating over time. Over the past several years, Secure has built a high-quality, infrastructure-backed waste platform with strong fundamentals and a clear path to continued growth. However, realizing that value on a standalone basis requires ongoing execution and capital deployment. This transaction enables shareholders to crystallize that value today, and reduces execution risk, and preserves meaningful upside through the combined platform. None of this would be possible without our people. Over 2,000 employees have built secure into what it is today, grounded in a culture of safety, operational excellence, and doing the right thing. These values are strongly aligned with GFL, and our team will play a critical role in the combined company going forward. We encourage all shareholders to review the materials and vote in favor of the transaction on May 27th. Turning briefly to the quarter, we delivered a strong start to 2026, generating $137 million of adjusted EBITDA, up 13% year-over-year and 21% per share. This performance reflects continued strength across volumes, pricing, capital projects, and acquisitions, despite lower oil prices for the majority of the quarter. prior to the recent strengthening in commodity prices. Operationally, we continue to advance our growth projects, including commissioning our produced water infrastructure in the Montney and progressing the reopening of suspended industrial waste processing facility in Alberta's industrial heartland, which remains on track for completion by the end of the second quarter. Overall, the quarter reinforces what we consistently see in our business, stable volumes, disciplined pricing, and incremental growth from capital deployment. We now expect results to trend toward the high end of our 2026 adjusted EBITDA guidance range, and we are increasing our growth capital to approximately $100 million from $75 million to support the acceleration of high-return infrastructure projects. I'll now turn the call over to Chad. Thanks, Alan.