Good morning, everyone. I'm Carlos Almagro, Head of Investor Relations. I would like to welcome everyone to Transportadora de Gas del Sur S.A. First Quarter 2025 earnings video conference. Transportadora de Gas del Sur S.A. issued its earnings release yesterday. If you didn't receive a copy of this release, please contact us at inversodata.dgs.com.ar. Before we begin the call, I would like to inform you that this event is being recorded and all participants are in listen-only mode. Following the company's remarks, we will host a Q&A session. All questions will need to be submitted in writing through the Q&A chat box. I would also like to remind you that forward-looking statements made during today's video conference do not account for future economic circumstances, industry conditions, or company performance and financial results. These statements are subject to a number of risks and uncertainties. All figures included herein were prepared in accordance with the International Financial Reporting Standards (IFRS) and are stated in constant Argentine pesos as of March 31, 2025, unless otherwise noted. Joining us today from Transportadora de Gas del Sur S.A. in Buenos Aires is Alejandro Basso, Chief Financial Officer. I will now turn the video conference over to Mr. Basso. Alejandro, please begin. Thank you, Carlos. We'll begin the call today. We will start the call by sharing some of the most recent news about the company. In terms of our natural gas transportation business, as we disclosed this week, ENARGAS finalized the five-year tariff revision and granted us a weighted average tariff increase of 3.67%, which will be reflected in 31 monthly adjustments. Regarding the inflation tariff adjustment scheme, given that the license rules state to be every six months, ENARGAS submitted to the Secretaría de Energía to change the terms to a monthly inflation tariff adjustment. In addition, ENARGAS considers that wholesale price and consumer price indices should be used for inflation tariff adjustments. Talking about the severe storm that flooded the Complejo Cerri last March 7, the flood caused a reduction in the natural gas transportation capacity and the liquids production to halt. We can proudly say that after great work done by TGS employees and our suppliers, the natural gas transportation services were gradually restored by the end of March without any relevant impact on revenues. By mid-April, the processing plant operations were partially resumed at the low production level, which has subsequently been increased. Meanwhile, we have been implementing the recovery tasks of damaged equipment, aiming to have the processing plant back to normal probably this month. Finally, the annual shareholders' meeting held on April 30, a week ago, approved a capital reduction through the cancellation of 41,700,000 and 34,225 ordinary shares, representing 5.25% of the capital stock. Said shares were repurchased by the company in the market during 2019 and 2020. Turning now to slide four, I will briefly address some of the key highlights for the first quarter of 2025. Please keep in mind that all figures presented for this quarter and comparisons made with the previous quarters are expressed in constant Argentine pesos as of March 31, 2025, following the provisions established by the IFRS for financial reporting in hyperinflationary economies. As seen in the slide, we reported a total net income of ARS 107.3 billion during the first quarter of 2025 compared to ARS 87.2 billion reported in the same quarter of 2024. This positive variation was mostly driven by the natural gas transportation EBITDA increase of ARS 116 billion and was partially offset by liquids EBITDA decline of ARS 52 billion and the ARS 17.7 billion negative variation of the financial results. During the quarter of 2025, we registered the property, plant, and equipment impairment amounting to ARS 10.9 billion, related to the damage caused by the flood at the Complejo Cerri. Moving on to slide five, EBITDA for the natural gas transportation business in the first quarter of 2025 totaled ARS 104.8 billion, which compares to a negative EBITDA of ARS 11 billion recorded in the first quarter of 2024. The EBITDA variation of ARS 116 billion in the regulated business segment was mainly explained by the 675% transitional tariff increase that became effective at the beginning of April 2024 and has contributed to recording a ARS 116 billion higher revenue. In addition, transportation tariffs were adjusted on a monthly basis from August 2024 to March 2025. The smaller monthly adjustment contributed with additional revenues totaling ARS 26 billion. These positive effects were partially offset by the negative monetary effect on revenues amounting to ARS 8.6 billion. In addition, interrupted and other transportation services revenues decreased by ARS 12 billion, and we recorded a higher ARS 4.7 billion turnover tax, mainly due to the incremental revenues mentioned before. On slide six, you can see that the EBITDA for the liquids business decreased 50% to ARS 21.4 billion during the first quarter of 2025, compared to ARS 103.4 billion reported in the same quarter of 2024. Most of the EBITDA decrease was explained by lower liquids volume sales, which declined by 80,000 metric tons, dropping from 290,000 metric tons sold in the first quarter of 2024 to 210,000 metric tons in the 2025 first quarter. This 27% decrease was mainly related to the flood occurred on March 7th, which completely halted operations of the processing plant for the rest of the quarter. This effect was reflected in a lower EBITDA of ARS 35.3 billion. In addition, the monetary effects contributed to reduce EBITDA in ARS 8 billion, while the variable costs increased by ARS 6.8 billion and lower sales prices resulted in a revenue decline of ARS 4.5 billion. Turning to slide seven, EBITDA from midstream and other services decreased to ARS 36 billion compared to ARS 45 billion. This decrease was mostly attributed to a ARS 17 billion negative monetary effect, as inflation was much higher than the foreign exchange rate increase. This effect was partially offset by higher sales derived from the incremental build volume of natural gas transported and conditioned in Vaca Muerta in the amount of ARS 9.8 billion. Transported natural gas build volume rose from an average of 22 million cubic meters per day in the first quarter of 2024 to 28 million cubic meters per day in the 2025 first quarter. The natural gas conditioning volume also increased from an average of 16 million cubic meters per day to 21 million cubic meters per day. As seen on slide eight, we recorded a negative variation in the financial results amounting to ARS 17.7 billion. This negative variation was mostly explained by a lower financial asset income totaling ARS 20 billion, which was mainly associated with the lower yield of the financial investment denominated in pesos. Both interest rates and increase of the foreign exchange rate were much lower during the first quarter of 2025 than in the same quarter of 2024. In addition, we recorded the high inflation exposure loss of ARS 6.7 billion. These negative effects were partially offset by a lower foreign exchange rate loss amounting to ARS 5.4 billion in the first quarter of 2025, given the reduction of the monthly crawling peg from 2% to 1% beginning last February. Finally, turning to the cash flow in slide nine, our cash position in real terms increased 10% or ARS 91 billion during the first quarter of 2025 to ARS 956 billion, which is roughly the equivalent to $882 million at the official exchange rate. EBITDA generation during the first quarter amounted to ARS 192 billion, of which 55% was generated by the transportation business, and the additional 45% came from the non-regulated businesses. Capex for the period amounted to ARS 55 billion. Working capital increased by ARS 24 billion. We paid interest amounting to ARS 23 billion, and we canceled debt by ARS 654 million. No income tax payment was made in the first quarter of 2025. This concludes our presentation. I will now turn it over to Carlos, who will open the floor for questions. Thank you. Thank you. The floor is now open for questions. If you have questions, please send them through our Zoom chat. We will read and answer the question in the order in which they are received. Please make sure to state your name and company so we can introduce you to the audience. Should any participant need assistance, please send us a message in the chat box. Please hold while we poll for questions. Thank you. The first question comes from Julián Casas from Latin Securities. Hi, Julián, how are you? When do you expect the government to launch the bidding process for the expansion of the Perito Moreno pipeline? Given these delays, when should we expect it to be operational? Hi, Julián. How are you doing? We are waiting for the launching of the bidding process. Hopefully, we can have some news next week or in the next two weeks. To be operational, it should be 18 months after the award of the bid. Hopefully in 2027, we are going to have some new volumes available thanks to this expansion. His second question, given our strong cash position, if we are considering paying dividends this year or we will allocate cash mainly to the project and mandatory investment plan in the transportation segment? We cannot give any advance on that. It's going to be our shareholders' decision. So I cannot anticipate anything about this one. A new question from Matías Cattaruzzi from ATCAP. Thank you. Hi, Matías. His question regarding the GPM, if we expect some partial commissioning by winter 2026. I already answered that question to Julián. We are not expecting, it's going to be very complex to cut some partial commissioning by winter 2026. His second question is regarding the flooding at the Cerri complex. How is the recovery progressing? I think that he explained through the presentation. If we expect any material operational or financial impact to continue into the second quarter of 2025. We said in the call, we started partial operations by mid-April, and we have been increasing the output of the plant. Today, and two days before today, we are at full operational production. Nevertheless, we can expect to have some problems in the plant because it is not stable. The reliability of the plant we are working on. We are going to have an impact in the second quarter of 2025. Very important in April and additional impact, hopefully a small one in May. Hi, Daniel Guardiola from BTG. His question is regarding considering the new tariff framework online for the next five years, what is the expected annual EBITDA and free cash flow generation in this business segment? Hi, Daniel. EBITDA established by Gas around $300 million or more than that. It will depend on inflation and variation of. Question is regarding what is needed for the company to stop applying the hyperinflation adjustment to your financial statement. We need three years with inflation lower than 100%. We are not so close to that. Maybe in the next three years, something like that. The four-year calculator seems that. Another question from Daniel. What is the outlook for 2025 in terms of volume sold of the liquids business? Is this risk covered with insurance? We are going to have an impact, an immediate impact of two months from March 7 up to May 7 with something lower than these two months in the liquids volumes. About insurance, we are covered. We have a deductible of two months. The first two months without operations, we are going to suffer from that in our financials. Regarding expenses, the deductible is just $1 million. All of the expenses over this $1 million should be recovered. Last question from Daniel. We are considering to enter into the LNG infrastructure business either via new export pipelines or via LNG facilities. We are working with the LNG projects, providing some services to the partners there. We may consider entering in the new export pipelines, not in the LNG facilities, but in the pipelines. We do not have any decision on that right now. Hi, Andrés. From Balance, he made the same question regarding the GPM project. It was answered. Andrés Cardona from Citi. Hi, Andrés. Yes. Your question is regarding the LNG project. Regarding the liquid expansion project or the NGL project, how is it evolving and what we expect to reach the FID? Hi, Andrés. Regarding the NGL project, the expansion, as you said, we are working with the gas producers and with our stakeholders to have agreements with them to go ahead with the project. We have to reach agreements with them before reaching the FID. I cannot give an exact timing, but we are working hard. A question from Agustin Isidro from BBVA Asset Management regarding the liquids event. What is the situation after the flooding for those clients that are located in Bahía Blanca? If we may, does this generate further impact? Our clients in Bahía Blanca mainly now, it has an impact. In fact, they cannot take all the income in the last days. Right now, they are taking all the volumes. About other impacts, I cannot give any assurance because we have put all the plan in process right now in operations. The reliability of the plan, we are working on that right now. We may have some small impacts in the next month or two months. Another question from Agustin. Which is the tariff increase granted for May if this 3.67% divided by 31 months? The latter will be adjusted by 50% EPIN and 50% by IPC or Consumer Price Index for each of the preceding months. Regarding the tariff increase, it was calculated 3.67% as it were effective in May. As it was calculated in 31 months, we are going to have more than this 3.67% because of the financial effect. Obviously, it's not going to be a lot more because 3.67% is very low. Regarding the adjustment, the monthly adjustment, as we said, we are expecting the decision of the Secretary of Energy and the Secretary of Power. The energy gas proposed is 50/50 increase, monthly increase. We are waiting for it. Maybe May. Hopefully, June 1 could be effective. It's not going to be retroactive because the tariff were increasing in May. If we have this adjustment in June, it's okay. It's going to be calculated with the inflation of the previous two months. In June, we are going to have the inflation of April. We should have the inflation adjustment date. Hi, Valentino Caramutti from Criteria. Are we planning on raising more debt through bonds in the short term? Hi, Valentino. It will depend on the projects, the GPM and the NGL projects. Hello, Guido from Alaria. Guido Bizzozero. Do we expect to continue this firm capacity in transportation semi increase to 89.4 remain for the future? If this level will remain in the future. Not other than the capacity related to the spinal trenches, which is part of the expansion of the GPM from Salicrú to GBA. That would be the capacity increase in two years' time. Hello, Diogo Portela. TGS was granted the five-year tariff review, but not sure if the concession was already extended. Is extension a key factor that delayed dividend distribution for 2025, 2026? Okay. No, no. It's another question. Excuse me. Okay. No, we are waiting right now for the final decision of the extension of the license. I would say that it has nothing to do with the dividends decision. The extension process is okay. Secretaría de Energía needs the opinion, legal opinion of their lawyers and the audit body also. They are working on that process. Another question from Diogo is regarding the capex plan for 2025 and 2026. Our maintenance CapEx projected for this year is around $90 million. More than 60, 67 is from the regulated business. You have to add to that the projects. It will depend on the projects. GPM project and NGS project. In that case, the CapEx plan could be increased a lot. Another question from Agustín Isidro. What was the main driver of the increase in firm contracted capacity? Yeah. It is related to the new GPM pipeline. As we provide services in the final trenches, we have increased our capacity for the expansion that was built and paid by ENARSA. We have this additional capacity for the overland of these new facilities in the trench from Salicrú to GBA. Juan Ignacio López from Puente, the main question that we have seen, we have answered. Hi, Matheus from Citibank. His question is that this incremental firm contracted capacity offers upside to the full year EBITDA expectation for transportation. The incremental capacity I already talked about is more route. So it's very, very, it has a very non-material effect, a bit. And it's just an overland tariff. There are no more questions. This concludes the question and answer section. Now we'll turn to Alejandro for final remarks. Thank you. You all for participating in this year's first quarter 2025 conference call. We look forward to speaking with you again when we release our 2025 second quarter results. If you have any questions in the meantime, please do not hesitate to contact our investor relations department. Have a good day.