Rohit Bhardwaj
VP of Finance & CFO

Hello, and thank you for listening to Chemtrade Logistics Income Fund's prepared remarks for the first quarter of 2026. Additionally, on May 12, 2026, we will hold a live question-and-answer call, which will be available via webcast and accessible on our Investor Relations website. We appreciate your continued interest and participation. Please note that this earnings update has an accompanying slide deck, which you may reference during our prepared remarks and Q&A. This slide deck is available on our website, chemtradelogistics.com.

The update will include a recap of our first quarter 2026 financial results, segment performance, capital allocation and financial position as well as the outlook for the balance of the year. Following my remarks, Scott will provide additional commentary on the outlook for our operating segments, key products and growth initiatives.

Before we begin, I would like to remind listeners of forward-looking statements, which are based on current expectations and are subject to a number of risks and uncertainties. Actual results may differ materially from those expressed or implied by our comments. Additional information identifying these risks, uncertainties and assumptions can be found in our disclosure documents filed on SEDAR+. We will also refer to adjusted EBITDA throughout this call, which we will simply call EBITDA in our prepared remarks.

Looking at our overall results, the first quarter of 2026 saw positive contributions from the acquisition of Polytec alongside merchant acid, Regen acid and sulphur products. However, lower year-over-year prices and volumes of chlor-alkali products and sodium chlorate as well as higher input costs for water products more than offset the EBITDA gains. Additionally, the strengthening