Pal Ramberg
Director of Investor Relations

Good afternoon, and welcome to Borregaard's pre-close call. My name is Pal Espen Ramberg, Director of Investor Relations at Borregaard. I'm joined today by CFO, Per Bjarne Lyngstad, and we are broadcasting live from the biorefinery in Norway.

Here is the agenda for today's call. First, outlook from the latest quarterly report; secondly, currency and commodity input based on public data, and last, a Q&A session. Participants are welcome to submit questions via the chat during the call.

I will now hand over to Per Bjarne, who will present the key points from the outlook communicated in the Q1 report.

Per Bjarne Lyngstad
Chief Financial Officer

Thank you, Pal Espen, and good afternoon, everyone. I will start with reiterating the key points from the outlook for both the full year and the second quarter of 2026. And when relevant, refer to questions and comments on the outlook given in the Q&A session at the webcast we held on the -- for the first quarter on the 29th of April.

I will start with BioSolutions, where we reiterated our expected full year's sales volume of about 340,000 tonnes. The second quarter sales volume is expected to be around 90,000 tonnes, in line with what we had in the second quarter in 2025, but with a less favorable product mix this year.

We got several questions regarding BioSolutions at the webcast. The first one was about how confident we are that the weaknesses in agri and batteries are temporary. We read the current picture as a reaction to the geopolitical situation, intensified