Operator

Good day, and thank you for standing by. Welcome to the Borr Drilling Limited Q1 2026 Results Presentation Webcast and Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Mr. Bruno Morand, CEO. Please go ahead.

Bruno Morand
Chief Executive Officer

Good morning, and thank you for joining Borr Drilling's first quarter earnings call. I'm Bruno Morand, and with me here today in Bermuda is Magnus Vaaler, our Chief Financial Officer. I'd like to remind all participants that certain statements made on this call are forward-looking and involve risks and uncertainties that could cause actual results to differ materially from those projected in these statements.

For further details, please refer to our latest public filings. On today's call, I'll start with a review of the first quarter and key developments since quarter end. Magnus will then cover financial results, after which I'll return to discuss contract activity and our market outlook. Before I begin, I would like to recognize our teams around the world for their continued commitment to safe and reliable operations.

During the quarter, several rigs achieved important safety milestones. The Gerd, Natt and Mist each achieved 7 years LTI-free, while the Saga and the Arabia III reached 6 and 3 years, respectively. The Norve also attained 2 years recordable incident free. These milestones reflect a strong safety culture across the organization, and I would like to thank all of my colleagues