Joe Trpik

“Thank you, Maria, and thank you, everyone, for joining us to hear about today's important developments. Turning to slide eight, 2025 was another year of strong energy demand in our service area.”

“Our Q3 results show improved regional power cost conditions and strong demand growth from our industrial customers. We faced warmer weather than usual throughout the quarter, though slightly cooler than last summer.”

“Turning to slide 6, our Q2 results reflect continued focus on execution and cost management, further semiconductor manufacturing and data center growth, and solid power cost performance.”

“Turning to slide six, our Q1 results reflect continued demand growth from industrial customers, dynamic weather, and ongoing efforts to de-risk our operations. Weather in our area was variable throughout the quarter, with colder conditions in January followed by more mild conditions in February and March.”

“Before I walk through the results and outlook, I want to acknowledge that we did not file our 10-K this morning in line with our typical practice. We are just finalizing the required documentation for the 10-K and completing associated compliance procedures.”