Operator

Anyone unable to attend the conference call will be able to access the recorded version by logging on to the webcast available on Quebecor's website until July 13 of this year. As usual, I also want to inform you that certain statements made on the call today may be considered forward-looking, and we would refer you to the risk factors outlined in today's press release and reports filed by the corporation with regulatory authorities. I will now turn the floor to Pierre Karl.

Pierre Péladeau
CEO & President

Yes, Hugues, and good afternoon, everyone. I'm happy to report once again solid operational and financial results for Quebecor in the first quarter of 2026. We're continuing to deliver on our plan quarter after quarter, profitably growing our wireless market share across Canada, generating superior cash flows and reducing our leverage to maintain the best balance sheet of the industry. On a consolidated basis in the first quarter of 2026, Quebecor increased its adjusted cash flow from operations by $40 million or 10% to $444 million. Its EBITDA, excluding stock-based compensation by $74 million or 13% to $577 million and its adjusted net income by $34 million or 19% to $220 million.

We reduced our debt by more than $120