WSP Global Inc.

Good day and thank you for standing by. Welcome to the WSP Global first quarter 2026 results. At this time all participants are in 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'll need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question please press star 1 and 1 again. Please be advised, today's conference is being recorded. Now, I'd like to hand the conference over to your first speaker today, Quentin Weber. Please go ahead.

Good day. Thank you for joining our call today. Today, we will discuss our Q1 2026 results and performance, followed by a Q&A session. Alexandre Lerue, our President and CEO, and Alain Michaud, our CFO, are joining us this morning. Please note that this call is also accessible via webcast on our website. During the call, we may make forward-looking statements. Actual results could differ from those expressed or implied by them. We undertake no obligation to update or revise any of these statements. Relevant factors that could cause actual results to differ materially from those in the forward-looking statements are listed in our MD&A for the quarter ended March 27, 2026, and for the financial year-end ended December 31, 2025, which can be found on CDARplus and on our website. In addition, during the call, we may refer to specific non-IFRS financial measures. These measures are defined in our MD&A for the quarter ended March 27, 2026. Our MD&A includes reconciliations of non-IFRS financial measures to most directly comparable IFRS measures. Management believes that these non-IFRS and other financial measures provide useful information to investors regarding the corporation's financial condition and results of operations, as they provide additional key metrics of its performance. These non-IFRS measures are not recognized under IFRS, do not have any standardized meaning prescribed under IFRS, and may differ from similarly named measures reported by other issuers and, accordingly, may not be comparable. These measures should not be considered as a substitute to the related financial information prepared by IFRS. With that, I will now turn the call over to Adexan.

Thank you, Quentin, and thank you all for joining us today. Let me start by saying that I'm very pleased with our first quarter. Overall, we delivered a solid performance, meaning net revenue expectations, delivering at the higher end of our profitability range while maintaining strong cash flow conversion. In summary, it's a good start to 2026. And coupled with the recent closing of TRC, the highly strategic acquisition, we are confident about the road ahead. Let me highlight a few key points regarding the quarter. First, net revenue grew by 11% or 5% organically on a like-to-like basis. Our backlog reached a new record of nearly $20 billion during the quarter following the successful close of the TRC acquisition, and the pipeline of opportunities remained strong across our key market sectors. Our growth agenda is underpinned by continued investment in talent and technology, and we scale our delivery capacity to support demand. Turning to profitability, adjusted EBITDA grew by 16.5% during the quarter, and adjusted EBITDA margins stood at 16.8%, up 80 basis point year over year. And finally, Adjusted net earnings grew by 26% versus last year. On cash, we continue to deliver strong performance with the trailing 12 months of free cash flow representing 160% cash conversion, significantly ahead of our target. On the M&A front, TRC delivered double-digit organic growth in the quarter, and the integration is progressing as planned. We are already benefiting from the collaboration between our businesses and seizing opportunities across various markets. Multiple collaboration opportunities have been identified in the first two months of integration, where our teams are leveraging each other's expertise, resources, and client relationship. TRC's Power Division is also seeing accelerated growth with nearly 20% growth in backlog, including data center's mandates, with electrical engineering and commissioning work for IOUs. With TRC and Power Engineer, over the last 18 months, we have united two leading power and energy franchises in the United States, setting us apart as a leader in our field and uniquely positioning us to capture growth opportunities in the booming power and energy sector. On the digital and technology front, we are experiencing real momentum in AI-driven projects and products. One concrete example is NatureVista, our AI-empowered environmental management platform, co-developed with clients and enhanced through our Microsoft partnership. It can give asset owners a single live view of their biodiversity environmental obligation across the project lifecycle from impact assessment through ongoing monitoring, reporting, and disclosure. We have just wrapped up our Global Technical Excellence Conference, known as GTEC, attended by more than 300 WSP professionals globally and many clients from all over the world. The innovative ways our teams are leveraging AI to create value were a central theme throughout the event. In fact, our teams showcase hundreds of examples of how AI, automation, and digital twins are embedded directly into our delivery. The predominant use cases were improving quality and insight, reducing risk, and enabling better decisions, all of which are critical to growth and productivity. With WSP Global Scales, we have access to a vast repository of engineering and advisory know-how. This uniquely positioned us to integrate advanced technology into complex real-world projects. In summary, by staying client-focused, investing in our people, And partnering smartly, we are harnessing AI to drive growth, augment our technical excellence, and deliver value for our clients. And last but not least, WSP benefits directly from the artificial intelligence tailwind. In fact, our services in power and energy, data centers, mining, and digital, which together represent approximately one-third of our net revenues, are all experiencing elevated growth. Let me now provide you with a few comments on our regions. Starting with Canada, we see strong momentum. The region is delivering robust growth, and the backlog grew by almost 9% in the last 12 months. The pipeline of opportunities remains healthy, with several large projects secured after the quarter, therefore not included in the Q1 2026 backlog. These wins include the Quebec City Tramway project, to deliver a new tramway across the Quebec City regions, including a two-kilometers-long tunnel. The project is being delivered under a progressive design bill approach, and WSP will lead the design in the co-development phase, including the tramway, guideway, stations, roads, structures, and urban design. Lastly, we are uniquely positioned to capture significant opportunities in the defense sector in Canada, and more to come in the second quarter. In the Americas, the U.S. market remains robust. Our hard backlog stands at approximately 13 months of revenues, reflecting sustained demand across key and markets. Our soft backlog continues to grow, reaching approximately 12 billion, with the vast majority supported by MSAs and framework contracts providing strong visibility. Our pipeline of opportunities trends positively, growing by approximately 20% year over year, with a continued strategic emphasis on large and complex pursuit, notably driven through our global client program. These growth rates are supported by strong and consistent win rates across our businesses, underscoring the strength, relevance, and competitiveness of our service offering. As is typical for framework-based awards and large programs, The timing of conversion from pipeline and awarded frameworks into hard backlog remains dependent on clients' award schedules and funding decisions to overall fundamentals remain very strong. Demand for power and energy is strong, now accounting for approximately a third of our U.S. revenues following the recent acquisition of TRC. In addition, multiple business lines continue to drive growth in the data center markets supporting the entire value chains from site selections and due diligence to data center design, then to power commissioning and construction management services. Win rates in this area are 75%, which is excellent news, especially given the fast track nature of these projects and the constant inflow of extensions and new opportunities. Activity level across transmission and distribution, power generation, large load infrastructure and project management remain elevated, supported by utilities, hyperscale customer and energy security priorities. New power generation technologies such as small modular reactors are driving accelerated growth during the strategic cycle. with an over 60% CAGR from 2023 through 2025 in our SMR practice, which focuses on upfront environmental, geotechnical and safety studies associated with siting and early phasing planning. We are currently working on 15 SMR sites at various stages of the siting, due diligence and licensing process, and the SMR pipeline is very strong with over 100 million of opportunities for WSP. Other markets such as transportation, ports, and water are robust. WSP also has been awarded the Design Service Multi-Award Task Order by Sound Transit in Seattle to assist in the delivery of a new line serving the northeastern portion of the greater Seattle area, which will feature buses every 10 to 15 minutes. WSP will be providing multidisciplinary design, engineering services, and civil, geotechnical, urban planning, and bridges. The mining and natural resources sector remain a core contributor, especially in Latin America. We continue to secure large scale mandates covering environmental permitting, water and waste management, and mine closure services for leading global miners, including Glencore, BHP, Codelco, Anglo American, Freeport McMorrin, and Rio Tinto. Recent wins include new project mandates for Glencore in Argentina and infrastructure-related work in North America, including an appointment by Dolan Gold to support a key project in Alaska. Of note, over 60% of our soft backlog in mining in the U.S. has been converted to hard backlog from Q4 2025 to Q1 2026. Moving to EMEA, we have been carefully monitoring our operation in the Middle East. Our people remain safe and we have not experienced significant project cancellations or delays to date. We are monitoring the situation closely, including any impact on our broader operations. In the UK, representing approximately 50% of EMEA, the regions have delivered yet another double-digit organic growth quarter. Backload grew by approximately double-digit year over year, and our pipeline of opportunities remained healthy. In the Nordics, the trend remains positive, especially in Sweden, with mid-single-digit organic growth and a healthy backlog. In Central Europe, we observe a healthy market condition, especially in the Netherlands, Spain, Italy, France, and Denmark. In France, we were awarded one of the largest rail projects in Europe, specifically for the Lyon-Touraine rail link to design exploratory tunnels deep under the Alps and determine the best approach to constructing these main rail tunnels This is expected to change mobility across the continent. Turning to APAC, Australia recorded a 40% increase in backlog in the last 12 months. Property and building, transport, and infrastructure are growing with a strong backlog driven by the transportation, defense, and aviation sectors. This bodes well for a return to organic growth early in the second half of the year, supported by strong winds. For example, we were recently awarded the suburban rail loop stage one line wide package. This project is a 26 kilometer long new metro line that will provide the rail loop circling Melbourne, connecting various trains and tram lines and is being delivered as an alliance. WSP will be providing design management, rail infrastructure, road and civils, security, building structure, utilities, geotechnical, contaminated land, noise and vibration, and drainage services. Another standout achievement this quarter was our flagship win in Australia with the Sydney Metro West Underground Station project. The project was awarded the Project of the Year at the Infrastructure Partnership Australia National Infrastructure Awards. WSP has been appointed to design five underground stations that gave us the opportunity to help shape the future of Western Sydney communities. Our team will take the lead on a range of engineering services, covering everything from station structures and building services to durability, fire and life safety, sustainability, and traffic and pedestrian modeling. The Sydney Metro West itself is a 20-kilometer underground railway designed to boost connectivity, and deliver fast, reliable, and sustainable public transport for the region. In New Zealand, our team delivered a third consecutive quarter of growth. We continue to see ports as a growth market for WSP with several wins in the quarter, most notably the Waitauhi ferry redevelopment project where WSP is providing wharfside infrastructure support for the introduction of new ferries. To conclude our tour of operation, I would like to reiterate that we are operating in a structurally capacity-constrained environment where demand for engineering and advisory expertise is robust, as evidenced by a strong pipeline of opportunities. In this context, additionally, we are increasing engagement with our Global Capability Centre, including the newly established location in South America as well as accessing a broader global talent pool. From a leadership standpoint, we have welcomed new talent, including Katis Watson, an industry veteran, a COO of our U.S. operation. Continued investment in talent and digital is important for expanded delivery capacity and supporting growth. With that, I will now turn it over to Alain, who will walk you through our financial results.