Operator

Ladies and gentlemen, thank you for standing by. Welcome to the First Quarter 2026 Results Conference Call and Webcast. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to turn the conference over to Martha Wilmot, Director of Investor Relations.

Please go ahead.

Martha Wilmot
Director of Investor Relations

Thank you, Michelle, and welcome, everyone, to South Bow's First Quarter 2026 Earnings Call. With me today are Bevin Wirzba, President and Chief Executive Officer; Van Dafoe, Senior Vice President and Chief Financial Officer; and Richard Prior, Senior Vice President and Chief Operating Officer.

Before I turn it over to Bevin, I'd like to remind listeners that today's remarks will include forward-looking information and statements, which are subject to the risks and uncertainties addressed in our public disclosure documents available under South Bow's SEDAR+ profile and in South Bow's filings with the SEC. Today's discussion will also include non-GAAP financial measures and ratios that may not be comparable to those presented by other entities.

With that, I'll turn it over to Bevin.

Bevin Wirzba
President, CEO & Director

Yes. Thank you, Martha, and good morning, everyone. We appreciate you joining us. South Bow delivered solid first quarter results underpinned by strong operational performance and stable cash flows despite