Superior Plus Corp.

Good day, and thank you for standing by. Welcome to the Superior Plus first quarter 2026 results conference call. At this time, all participants are on the 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, Chris Lichtenheld, Vice President, Investor Relations. Please go ahead.

Thank you. Good morning, everyone, and welcome to Superior Plus' conference call and webcast to review our 2026 first quarter results. On the call today, we have Alan McDonald, President and CEO, Greer Coulter, Executive Vice President and Chief Financial Officer, and Dale Winger, President of Soteris. For this morning's call, Alan and Greer will begin with their prepared remarks, and then we'll open the call for questions. Listeners are reminded that some of the comments made today may be forward-looking in nature and information provided may refer to non-GAAP measures. Please refer to our continuous disclosure documents available on CDAR Plus and our website. Also note the dollar amounts discussed on today's call are expressed in US dollars unless otherwise noted. I'll now turn the call over to Al.

Thanks, Chris. Good morning, everyone. Thanks for joining us this morning. Well, the first three months of 2026 saw our business evolve dramatically. A second winter of above average cold weather challenged our propane business in the midst of a transformation, which is never easy. But it was the best way to stress test our operating models. At Soteris, it was an interesting quarter as we saw subdued website pricing despite volume growth and uncertainty arising from the conflicts in the Middle East which so far has not increased activity levels in the oil and gas sector. At the same time, we saw a dramatic development outside our traditional markets with the announcement of a substantial expansion of our data center business. Overall, we're pleased with the first quarter performance and encouraged by how the business is positioned as we move forward. Now, looking at our consolidated performance in Q1, results track largely in line with our expectations, with CNG down due to lower utility work and lower well site pricing. while propane was up modestly as operational improvements continue to take hold. Our share repurchases program continued during the quarter and has meaningfully contributed to our per share performance. Since prioritizing buybacks in the fall of 2024, we've repurchased approximately 14% of our outstanding shares as part of our commitment to enhancing shareholder value. Turning now to propane, operationally, while many of the pressures from the fourth quarter carried into the first, our team persevered. advancing or transformation efforts, while also going above and beyond for our customers. Our frontline teams, particularly our drivers, technicians, and customer experience representatives, operated under significant pressure through the early part of the winter, and I want to publicly recognize their efforts. Our team members are at the heart of our brand, and their passion for our customers makes anything possible. Coming out of winter, we've made significant progress in how we prioritize, plan, and execute our deliveries, to improve both efficiency and customer satisfaction, and we're feeling confident ahead of our next winter season, supported by better data, clear processes, and execution discipline. Importantly, we remain committed to our strategy, as our success depends on the ability to deliver to every customer safely, efficiently, and on time. As the weather warmed into March, we also made strong progress restoring customer tank levels to more normalized ranges. Moving through the year with healthier tank levels, supports more predictable routing, reduces emergency deliveries, and improves labor productivity, while still allowing us to maintain a lean cost structure. Overall, Q1 was an important quarter for the business. We tested many aspects of our operating model under very intense conditions. We had some significant successes and some learnings, which were informing our plans as we advanced the transformation of Superior into North America's most formidable competitor. Now turning to Ceteris, While Q1 profitability saw a decline versus 2025 due to reduced utility work and lower well site pricing, which, by the way, was fully anticipated in our guidance, I'm pleased to say that the team's efforts have had a positive impact on our organization, and we expect to resume quarterly growth beginning in Q2. Looking forward for Sataris, there are exciting times ahead. We've long said we believe in the future of over-the-road CNG and have purposefully pursued a strategy of geographic expansion and business development in new and emerging verticals. We planned on Soteris being their first and being the enabler of CNG adoption for all customers, big and small, in all geographies, with a responsive, reliable, and scalable value proposition across the continent. Since our last results release, we've seen the expansion of our total addressable market driven by the explosion in demand for behind-the-meter power generation for hyperscale data centers. The rapid growth in computing demand and the energy required to support it is outpacing traditional infrastructure expansion. Behind-the-meter solutions are a critical component in building and operating hyperscale data centers, and Soteris' delivered energy has emerged as a credible enabling solution. We're helping customers bring data centers online faster, with an energy solution that is both operationally reliable and financially compelling. Since last September, we've signed six data center contracts totaling more than $350 million in revenue, including a new contract we announced yesterday, which will be supported by the opening of our new hub in Salt Lake City, Utah. This momentum is changing the game for Soteris and proving the value of our continental coverage, as well as our track record of delivering energy safely and reliably. Now, 10 years ago, the boom in well site conversion to CNG created an opportunity for Sataris to grow from a small company to build scale and a vision to be the leader in delivered energy. This second wave of energy adoption behind the meter power generation is something very different. The scale of this opportunity is like nothing we've seen before. It's not taking place in a single market. It's across North America. And with each new customer we serve, We're building new hubs and the infrastructure to make CNG solutions available to other verticals from coast to coast. While the oil and gas boom brought truck CNG to life, the data center era will bring it to communities and businesses everywhere. In terms of outlook, well, it's early days. But a lot has happened in a short time, and we expect the world to evolve at a very fast pace. I fully expect our data center and industrial verticals to account for approximately 60% of our CNG business within the next 24 months, and this is just the beginning. Our sales funnel continues to expand at an accelerated rate in this and other industrial verticals. Looking to revised outlook and the capital allocation, the business is well positioned to meet its growth objectives this year. and we are increasingly encouraged by what lies ahead for Superior Plus in the years to come. Due to the progress we've made within propane, along with the expanding market for CNG, we're increasing our adjusted EBITDA guidance for 2027 from 2% to 5% growth over 2026. I want to be direct about something. We know our track record on guidance has been tested over the past few quarters, so you can appreciate the decision to revise guidance is not something we've taken lightly. The totality of the increase is the direct result of the contracted revenue we've secured within the data center vertical since our last update. This is a very dynamic market at the moment, and Soteris' ability to move incredibly fast, providing viable competitive solutions, is a testament to our strategy to truly be the market leader in delivered energy. It's also important to note that we have seen this as just the beginning. We've not included future opportunities or adjusted our growth forecast since our last review for 2027. These opportunities also mean we're investing in growth. We'll be increasing our planned capital investment for 2026, investing in new MSUs, tractors, and compression equipment as we expand our capacity to fulfill the requirements of this increased volume. Greer will cover these details more in the financial review shortly. And finally, on capital allocation, we've been disciplined buyers of our shares and remain confident in the long-term value they represent. As mentioned, since late 2024, we've repurchased approximately 14% of our outstanding common shares. However, as always, our priority is to allocate capital to the most accretive opportunities for our shareholders. While we continue to see exceptional value in our shares, the opportunity to invest in CNG at this time is extremely attractive and has compelled us to transition from share repurchases to new investments in CNG. We also want to be transparent about what this increased investment means for leverage. We will walk through the specifics, but at the high level, we expect leverage to move modestly higher in the near term before declining as contracted EBITDA flows through in 2027. We're comfortable with this trajectory given the cash generative and predictable nature of our propane business. So to wrap up, we delivered a solid first quarter despite a challenging backdrop. Propane continues to progress. As we modernize the business, and Soteris is positioned for meaningful growth. We're allocating capital to the highest value opportunities to support long-term shareholder value. And with that, I'll turn things over to Greer to walk through the financials.