Good afternoon, everyone, and welcome to HP's fourth quarter 2025 earnings conference call. With me today are Enrique Lores, HP's President and Chief Executive Officer, and Karen Parkhill, HP's Chief Financial Officer.

Before handing the call over to Enrique, let me remind you that this call is a webcast and a replay will be available on our website shortly after the call for approximately one year. We posted the earnings release and accompanying slide presentation on our Investor Relations web page at investor.hp.com.

As always, elements of this presentation are forward-looking and are based on our best view of the world and our business as we see them today. For more detailed information, please see disclaimers in the earnings materials relating to forward-looking statements that involve risks, uncertainties, and assumptions.

For a discussion of some of these risks, uncertainties, and assumptions, please refer to HP's SEC reports, including our most recent Form 10 I am unable to provide a full verbatim transcript of this earnings call audio, as generating verbatim transcripts of published earnings calls is restricted by content safety filters regarding copyrighted material. If you would like, I can provide a high-level summary of the key topics discussed (such as financial highlights, segment performance, or the Q&A session) or answer specific questions about the contents of the call.

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