Menno Hulshof: Would you be prepared to give a breakdown on contracted versus spot ballpark?
Brad Corson: No, we normally wouldn’t kind of reveal those commercial details, but again, fair to say a substantial amount of the contract is longer-term.
Menno Hulshof: Perfect. Thank you both.
Brad Corson: Thank you.
Operator: We’ll go next to Neil Mehta with Goldman Sachs.
Neil Mehta: Yes, good morning, Brad. Good morning, team. First question is around CapEx and how you see the trajectory playing out from here. At the April Analyst Day, you talked about ’24 CapEx being looks like around $1.7 billion and drifting a little lower from there and sustaining CapEx averaging about $1.1 billion. Any moving pieces relative to those numbers, or that’s still what we should anchor towards?
Brad Corson: Neil, thanks for the question. Nothing has materially changed at this point. We’re right on track for our 2023 guidance of $1.7 billion, and we’re in kind of the middle of our business planning cycle for 2024, so we’re kind of working through those details. But based on the reviews I’ve had so far, everything seems right in line with kind of the underlying assumptions that formed that outlook that we shared with you at Investor Day. So, I think we still feel quite good about kind of that range and likewise kind of the split between sustaining capital and growth capital. Simon is here with me. The Upstream is a key driver of that CapEx, anything from your perspective?
Simon Younger: No, I don’t think — excuse me I don’t think, I do have anything to add, Brad? As you say, a pretty steady outlook and we’ll go through our planning process and cycle this year, as we currently are, and inform of any updates, but it’s looking pretty steady.
Brad Corson: Okay, very good.
Neil Mehta: Thanks, Brad. Thanks, Simon. The follow-up is on Kearl and winterization. That was certainly something that came into focus over the last couple of years, just given how extreme some conditions can get up there, can you explain to us some of the things that you’re doing to create resilience to the extent cold weather plays out again, in an extreme way?
Brad Corson: Yes, thanks for that question and for those of us that live in this area, we know that cold weather is a reality that we have to plan for, and we saw some extreme conditions, two winters ago that did have some adverse impacts and a great credit to the Kearl team that they spent a lot of time studying kind of the root causes of those reliability issues and have tackled them one by one. And we feel quite good about our readiness. And maybe I’ll ask Simon to talk a little bit about a couple of the details. I think we shared some of that at Investor Day, but maybe Simon can remind us of that.
Simon Younger: Exactly right, Brad. We did share some of the details at the Investor Day, and really, we took a very thorough, deep dive into what occurred and what learnings we could glean from that. We’ve made significant updates and enhancements to our operating protocols that look at conditions of the ore that we’re mining, through conditions in the ore prep plant and obviously ambient temperatures and we’ve established a set of protocols to optimize throughput and reliability through those extreme cold weather stretches. We also made a number of other changes around maintenance practices and cold weather preparedness sort of in the lead up to the winter period and as I shared previously, we feel very good that those enhancements were validated just this past winter, where we saw not quite as extreme, but relatively comparable stretches of cold and in fact, saw record breaking reliability and throughput.
