Evergen Infrastructure Corp.

During the presentation, all participants will be in a listen-only mode. Participants can submit questions via the Q&A box at the bottom of the screen, which will be answered following the presentation. As a reminder, this call is being recorded. Before we begin, I would like to direct all participants to our website at www.everageninfra.com, where you'll find a copy of our second quarter 2025 earnings presentation. Please allow me to remind you that our discussion today contains forward-looking statements. Actual results may differ materially from results projected by those forward-looking statements. Additional information is contained in the second quarter 2025 management discussion and analysis. I will now turn the call over to Chase Edgelow, Evergent Infrastructure's Chief Executive Officer to begin.

Great, thanks Laura. So Q2 marked the first 30 days of new management involved in the business, myself and Ron Green, as well as Maria O'Sullivan on the call here today, who stepped in as our CFO at the end of June. In those first 30 days, our focus has been on kicking off optimization initiatives across the business, led by Ron Green, our COO. And really his expertise in fostering teams and creating high performance, we're already seeing results from that. These efforts are part of a long term plan to position the company at an institutional grade level, which is our goal in order to attract project level investment and low cost capital as we grow the business. Looking at the results for Q2. Well, what we saw was our core assets, our two RNG projects, continued to be the drivers of value and delivered record production in the quarter. This strong performance has been historically volatile. And our goal is to steady that out. And we'll touch on that later in the call. That confidence or a stable track record of production from those assets are what is going to drive the most impactful value for Evergen from the core asset base. In terms of financials, if you look at Q2, it's largely in line with Q1 from a financial performance perspective, adjusted for seasonality. And really, the performance in Q2 was driven by decisions made in Q1 and prior, and primarily due to capital constraints. There was a number of follow-on impacts and really have left the business in a position that needed significant work, and we're undertaking that today. you know part of that was impacting revenues and volumes at our organics and composting facilities and we've continued to maintain lower volumes at those facilities as an intentional reset that we believe is necessary to rebuild long-term value and we'll talk about what that means in terms of capital deployment we have undertaken a review of all of the capital projects, optimization projects within the company, and we'll be deploying that capital in the back half of the year in order to generate attractive returns on a priority basis, prioritizing cash flow payback, which we believe will drive not immediate but sustainable results for the business. And with that, I'll turn it over to Maria to dive into the Q2 financials. And we'll talk about our strategic progress past the end of June and our outlook after that.

Thanks, Chase. Good morning, everyone. And thanks for joining the Q2 earnings call. I'm pleased to be speaking to you for the first time as interim CFO. So revenues were 2.8 million in Q2 2025, compared to 1.9 million in Q1 2025. As Chase touched on already, our RNG segment delivered record reduction, driving higher revenue quarter on quarter. And we also saw a seasonal increase in revenue at our organics and composting facilities. Revenues decreased relative to Q2 2024, mainly due to lower tipping revenues due to those lower volumes received at the organic waste and composting facilities, as well as no management fees earned from product radius in the corridor, partially offset by increased RNG revenues. Turning to adjusted EBITDA, this came in at 0.3 million for Q2 2025, compared to 0.5 million in Q1 2025. due to increased direct operating costs at our organics and composting facilities, as well as certain costs connected to the private placement transaction. These were offset by increased revenues in the orangey segment. When compared to prior year, adjusted EBITDA was decreased mainly due to those lower revenues, partially offset by savings in our direct operating costs. For the second quarter, we delivered results that reflect continued steady production and RNG segment, which achieved quarterly record production. Looking ahead, we remain confident in our strategy and expect the initiatives that are underway position us well for long-term success. With that, I'll turn it back to Chase to conclude the Q2 2025 earnings presentation.