To all, sejam bem-vindos a arena. Welcome to the B3 arena, B3 day. Those that had the opportunity of visit the premises, I hope you have enjoyed it. In the last two and a half years, we retrofitted our premises in São Paulo, so we have just inaugurated the new building. I hope you have seen the operations centers, trading floor, restaurant as well. Now we're gonna have a session of one and a half hours with Q&A. We're gonna talk about strategic vision. We're gonna cover about the core business, the listed and off the counter. We're gonna talk about new initiatives, data, services, technology and platforms. We're gonna talk about culture and also ASG. We're gonna talk about the guidances that we launched last week for 2023. After that, those who will be here in person, we're gonna have three groups. We're gonna separate you in three groups and give you instructions where you should go. You're gonna have three individual sessions with the executive groups so that you can get to know the strategy and B3 business, and be able to interact with everyone. I'm gonna share the floor here, depending on the sessions throughout the presentation with two executives and so that you can know more about the roadmap that we're gonna show here at B3. I'd like to initially to talk about the strategic vision, so I'm gonna be very brief, but of course, we also have here. After five years of B3, we have a beautiful journey, and we'd like to tell you about it. A transformational journey, cultural and strategic transformation. This company, it was born almost six years ago with BM&FBOVESPA and CETIP. We did not only change the name of the company, but also we effectively built a journey that what this company would be like, bringing together what the companies that brought us up to here has as best practices. We began 2017 with this merger. We invested in the first year in integration. The focus was integration, capture of synergy and so on. We migrated a bit about the discussion of the development of local market, focus on local market. There were question whether the company's strategy would expand in Latin America, where we had opportunity of growth. We, in the cycle 2017, 2018, it was very clear for the stockholders that we wanted to build a company that would be, would have credibility, safety, operational excellence, and also it could guarantee that it's a robust infrastructure to serve the needs of our customers here in Brazil. Obviously begin also to work the topic customer focus on customer segmentation, proximity, agility and products. This was part of our strategy that we wanted to maintain regarding safety, technology and operational credibility. One pillar with the other pillar drawing close to our customer. We launched our culture project as well. We're gonna talk about in this transition, 2017, 2018. We're gonna talk a lot about several initiatives. We began to discuss also, 2018, 2019, the positioning of the company regarding our actions, how we can work with this new capital markets in Brazil, distribution, the positioning of B3, B2B2C. In 2019, we worked several topics regarding products for individual. We draw closer to individuals and obviously, incentives and also tariffs and local, with the local market capital and so on. We launched a number of initiatives of financial education hub. It began platforms of information and also communication products with the objective or the goal of drawing the retail market close that at that time was seeking for the first wave of growth after the government transition, 2019, the discussion of interest rates, which was discussed 5% or 6%, pre-pandemic. We had the pandemic, everybody followed. We had an enormous market expansion. We had to then look to inside the company to face the increase of the volume of demand that we had in the cycle 2019, 2021. This is what the focus focused on in the cycle, assuring support and the growth of businesses that they should be based on technology and also training and quality of services in a historic cycle. For the capital markets in Brazil, and everybody followed the amount of IPO, the arrival of new individuals, investors in variable income. At the end of 2021 then, we resumed the pre-pandemic regarding expansion and diversification of our businesses. After four and a half years of the company, we saw an opportunity of growth in the adjacencies, we began to prepare our. All our structure for this, so that our framework for this, mainly based on data solutions through data governance, so that we could work within this un-new universe of opportunities for data using data. We had the first M&A after the creation of B3 in 2017 with the fusion of Neoway. We began to develop this vision of construction of a business of data. We get to 2022 in this cycle, ending 2022 and beginning 2023, with a vision that we are at a new level of market capital in Brazil. All of the things that we managed to get came to consolidate the Brazilian market. Here we have two great opportunities and avenues for growth in our business, which is the solution of data and what involves technology platforms. Regarding strategy, we have an ambidexterity in this aspect. We have a focus, a very big focus in core business. The goal is to strengthen our presence in the core business of the company and this means innovating within this business. It's a very broad agenda for the creation of product and modernizations of platform and agility in time to market to serve the needs of the market, and if possible, anticipate the needs of all our business line that the company has on the counter, off the counter, and listed. All these products before the market effectively has a stronger demand. This is a cycle we have I'm going to follow here, Juca Andrade, VP of Product and Customers, and Mario, Vice President of Clients and Risk and Trading. We're going to talk about the listed core markets. To start off, one of the biggest questions that we have from our stakeholders is the sustainability regarding the stock market. We refer to these markets as markets that grew a lot, we cannot have a mathematical view, a perfect or precise mathematical view of what will be the turnover or ADTV daily volume that grew in the last years. We brought here a few evidence that we have that the Brazilian market changed its level in the last years. Here we have a graph with historic turnover from B3 in relation to other stock markets. In 2019, we start with a turnover near 100%, which a market with a market cap per year to 160% here in the updated data, 2022. It's more sustainable since 2020 at this level, over 150%. Also that the ADTV variation that we had at B3 of -14% of this year compared to last year, which was a record year because ADTV was almost BRL 17 billion in the markets as we call, as also variable income markets. We had BRL 17 billion in 2019, and we dropped BRL 30 million in 2020, BRL 35 billion in 2021, and now we are between BRL 28 billion and BRL 30 billion, which we will close the year, so with a drop of 14%. Very much aligned to the average of the markets, global markets, some of them are still growing and very far from the drops observed in more developed markets, more than our market, like Korean market, for example. We like to bring as well a bit of this ADTV of this turnover separated by a client segment. Here we see a change in level which is significant compared to 2019, 2022. Both in the sector and local institutional and also foreigners. We see here that the turnover in ADTV for individual was over 200%, starting off with BRL 3 billion to BRL 6 billion and going back to BRL 4.5 billion this year. Understandable because we had a difficult year for variable income with IPOs, which was far beyond what we expected. We talked about in the beginning of the year or end of last year that the interest rate would reach 2-digit, but we are close to 14%. We see a leap from 2019 to 2022 that ADTV of individual started with BRL 3 billion to BRL 4.5 billion. We are gonna see the actions that we do to bring these person, these individuals to the market. Institutional also changed level. We had a smaller retraction. We started off from BRL 5.3 billion in 2019 to BRL 7.5 billion, which is an average of 2022, over 200% turnover velocity of local institutionals. We see that with more customer, more funds have operated in new markets, including the variable income market, but we're talking about BDR and real estate funds. The industry has also sophisticated its turnover and its exposition through assets in the market. Foreign customers started off with BRL seven and a half billion up to BRL 15.9 billion. The other two grew 50% and the foreigners, sorry, grew over 100%. We wanted to draw this high HFT customers and also proprietary groups who want to draw them closer. They have made use of the volatility in Brazil and the growth of liquidity of the Brazilian market to increase their participation in our market. Therefore, we will talk a bit about all the initiatives that we did with each group, each segment of these clients to give you an idea of the dimension, why we again believe the market has changed level. I will start with individuals. We have a structural change, as said. We started to see this more than five years ago with a clear change on the distribution sector in Brazil. We have the technology definitely changing the sector and distribution sector of asset, financial assets in real estate. We digitalize, giving access to products and service that before were just exclusive for those clients of high income sectors or private banking. Democratization was huge in the offer of these products for several segments. We had also a growth that was Brexit regarding autonomous agents, and we have another chart evidencing this. We also did a several incentives in our policy of tariffs in order not to have any barriers for the interest of new individuals, clients in the universe of the stock exchange. This was back then in 2019, 2020. We exempt with the tariff of maintainers for the monthly tariff for maintenance of accounts in B3, and we did at that moment the exemption of escrow for investors up to BRL 20,000 in the depositary of stock. We don't charge up to BRL 20,000. Only after, beyond BRL 20,000, we charge the maintenance fee. This is huge, increase the participation. We hub of education. We have the hub of education oh twenty. For Bora Investir B3 of this year. We also integrated the museum. We invested a lot what we call the B3 investor, hub investor, so Bora Investir. Investors can invest all their assets in one place, which is the investor's area and giving initial space. We believe that this might be one of the paths that CVM is mention as open capital market, a way for investors to be in the command of their own investments using their assets in order to give as escrow, moving amongst brokers and so forth. This can be done through B3. Here on the right-hand side, we can see the movement forward, advance of this amount of individuals on depositary of actions and shares. We see a blue for million tax identification numbers of variable income product, not only BDRs, real estate funds, shares and stocks, 5.4 million accounts. This number, as well known, was stagnated between 2010 and 2017. The figure of 500,000-600,000 accounts of individuals. Also there was a growth regarding derivatives market due to the arrival of individuals to some contracts of derivatives, and this will reflect a bit the success of mini contracts counted by the company for some time now. They were hugely successful with individuals operating especially mini contracts of Ibovespa futures and mini contracts of dollar futures. Let's see if I forgot something. I didn't talk about all the income products. We have derivated the launching of our LP and launching of dividends, ETFs that explain further this combination of factors that explain quite well the success of the individuals world in here in B3. Now we keep on reaching individuals, and we are showing here the average balance. As I mentioned, we average of the positions of individuals here is 2,000 BRL. Previously, five years ago, it was 20,000 BRL. It's the democratization I just mentioned, increase of relevance of the inventors, of exposure of individual, more than 3-folding growth and almost 4 times it has grown. From September 2017 to September 2022, you see close to BRL 500 million in total inventories of individuals. It's important to mention that the new groups, there's representatives of by crop, 2/3, almost a bit more of 1/3. I'm sorry, excuse me, of the new crops are accountable for these inventories, i.e., we have this number was stagnated, it did not capture new volumes by 2018. You do not have the entrance of new volumes. Those who were there were changing position. We did not have new investors. Here we have new ones over 16-fold, are accountable for almost 40% of this inventory of assets here at B3. 42% of these investors, they have more than five shares in their portfolio. One-third already have investments made in different assets. Two-thirds, in fact, they have investments in different assets, not only the stock spot stock market. They invest in BDRs, ETFs and real estate funds. They diversify further their portfolios and they experiment more arrive early. If the investments are with low volumes, we show we have a company more democratized and obviously the capital market being easier for the reach of potential investors. A figure that I find quite amazing is that we have a figure on growth of 1.5 million individuals doing at least one business per month. These are those clients that bought actions, stocks, you know, 20 IPOs and nothing else was done. Every month they do at least one business. This definitely is the outcome of the new sector of distribution where upon autonomous agents or bank managers or different form of the advisors on investments, certainly they foster and talk and stimulate these clients to be more active on the management of their own investment portfolio. This is quite amazing that we managed to show this, the size of what was this change regarding the retail investors arriving here at B3. Shifting to non-resident investments, foreigners. We have here an increase which is substantial, also outcome of the prospection of clients and technology that's available for this. Normally, those investments that are multinational, that operate in how volumetry and different stock exchanges worldwide, so they are not those clients that are differentiated too much regarding the way they perform. They're quite similar in their performance. There is a bias and huge against these clients that in fact they are excellent, I think, and fair bias towards them are HFTs or proprietary groups of trading because due to the knowledge, perhaps it's this. They will have this bias, they foster net ability, they have technology on their algorithms and they increase substantially the volume of business, which is the way that's more effective for you to reduce the execution costs, either for institution or individual's clients. More net ability, more investment. In net ability invested it's more relevant that any fee or tariff that we are involved in the acquisition of stocks and shares. We invest substantially and foster substantially that they come and increase their stake in the company and the turnover of the company. Here on the right-hand side, on the yellow bars, these investors of low latency, not only that we have high frequency investors, but some other investors that are more sensitive to price and volume, they are almost 40% of the average daily turnover. It's stable turnover regarding growth. That we have reached 160%. We have worked in different aspects of tariffs. The first one obviously was the drop of the initial level for taxes levied on these clients. Now this is seldom when you have these clients paying these tariffs of high frequency clients. These are those clients reaching the higher deductions of the company because they are more sensitive and they reach the, let's say, the levels of deeper discounts or day trading, either one or the other. Many times they reach 80% or even say, 100% when they are form market of different papers. We fostered the arrival of these investors with a competitive pricing to generate this net ability in our market. We worked on the subject of technology with such investors. Just to complement this point here, two aspects that are relevant. The first one that we talk in-house, in fact, this ADF, they are doing a bridge, although in a short time between buyer and seller, that sometimes not all those the prices matching these HFTs. Sometimes they make things happen. They build the bridge because this, they hold the position for a short time. The minimum interval, they make the viable business both, in both sides. Do you have this spread? The second thing that you used to mention, the program Formador de Mercado, we place the exemption of pricing and tariffs in these clients, but we want to improve furthermore, start looking the quality of the performance of these investors as they are improving the deep, the execution, the book, and the possibility of executing this business. We look at these things, so more and more you will see later on, and we have some launching, and we disclose the program, not specific Formador de Mercado to provide a net ability, which is the analogy if that guy, if there's a book order also taking net ability of the book. More and more we will see if there's a way to incentivize the performance of these players. Also there's an important subject, it's worth mentioning, the prospection of these players, they take time. We have our international offices now, Chicago, London and Singapore, China, Shanghai. We have here a cycle of opening with liaison with these groups that's not ordinary. Many times, if these groups and companies of high frequency do not understand, there are no facilities, technology, competitive prices, they decide not to join these countries, not to enter here. The opening cycle, test simulations, they take from 6 months to 1 year. This evidence how much we are well succeeding by bringing these players, which are important for the maintenance of volumes and new products. Finally, we, I think we have covered here most of what we had to do regarding this PowerPoint. Moving for the local institutional investor, we have here an important growth regarding the fund industry in Brazil. On the right-hand side, upper part of this PowerPoint, you see that this industry is close and beyond in some moments, BRL 6 trillion, even though quite concentrated on fixed income products. We have done some movements regarding tariffs and products launching for these players and investors. Here I.e., some products regarding fund listing, the need that these managers wanted to work with their liabilities and have the opportunity to list these funds that were negotiated on secondary market to end a bit with the culture of redeem and net ability on a daily basis, this seems so-to be a huge trend. The secondary markets to gain relevance and not the redeems of those products of investments. We launched recently strategy products, EDSs and ODSs that we are investing and fostering so the market understand EDS and ODS and appropriate more the discounts and let's say the incentives that such products provide. Likewise, the arrival of BDRs due to the regulatory development that diversify and bring an opportunity that is wider for the performance, either for those funds of retail or institutional funds to diversifying products, launching products to assess with international markets and fixed income, international markets through BDRs of fixed income. Today we have, what, more than 1,000 BDRs, and this seems to be a bit of the journey of sophistication of product that we will see in the next years in Brazil with the sophistication of the fund industry. The lower right-hand side of the chart showing the number of funds in Brazil, it's growing. More than 20,000 investment funds. We have funds here that are those exclusive funds. We have all the, let's say more than 10,000 funds, almost 13,000 if we take into account savings account, and it's not fixed income. Clearly there's a trend of a diversification and search for multi-market and not multi-markets in the sense of hedge fund, as we said, but variable in the fund industry in Brazil. Also, we, I think it go to all the other two segments that I mentioned, individuals and HFTs. We have here an investment on the relationship dedicated to the group of clients. It's the. We have an institute dedicated to buy side. You know, this is part of the coverage of clients, and we have also here included the private pension funds. We have instructor of catering for the post-sales because we will talk later on, it's one of the detractors or fosters of our eNPS. This clearly is a need to have a better service rendered, the post services. I saw the clock is working. I'm quite late in my presentation. Concluding here, we keep on have a medium, long-term point of view and view. We have a huge opportunity ahead of us. Obviously, we have what we call we have wind helping us in favor of us. A macroeconomic aspect which is very important in the exposure of the company. Definitely there are those things that we do. We have a tailwind that helps to develop the market and including our actions. We have a huge population that's now having banking accounts and especially for savings account, difficult to justify more than BRL 900 billion invested in savings accounts. We have 15 million individuals surrounding the B3, being that 12 million are exclusive fixed income investors, 6%. This is a huge opportunity. 20 million, 12 in fixed income. Here we have a market cap regarding the lowest one in Brazil when compared to other markets developed and let's say, and similar size of Brazil. This is a positive view in medium, long-term. To wrap up our listed cycle, first we talk about two things. First, we keep on believing that one of the big reasons of the success of listed markets is our capacity to, as I said at the beginning, to innovate within our core businesses. That's why we try to work in a pipeline of products and initiatives that are strong during the next 12, 18 months. It's an art we have to know, coordinating all the agents and entities of the market for products are available and giving priority to, you know, well done waits. We will extend a lot in this presentation, but in the next one we can address further this aspect. Just to give you in a nutshell what's in our agenda: the platform block subject that we are still asking to CVM, which is the outcome of re-restructuring of Resolution 461, now named 135 of CVM. It's showing the compliance of those clients, let's say, that are impacted by the changes that we are fostering. Reduction of latency already planned or through 2025 projects, let's say tech development and competitiveness in technology in the platforms of B3. Focusing on international products, we are increasing this. Those we have in B3, 018, 019, most of them was the export of the capital market of Brazil for the international stock exchange. At that moment we had three, four companies that were substantially listed abroad without the option of being traded in Brazil. Today we have BDR non-sponsored that two of these negotiable instruments that are close to BRL 100 million ADTVs per day. Clearly we want to increase the possibility and options of local investors to have access to products that in a way that's cheaper can be traded here in Brazil, in our platforms. Likewise BDRs of Brazilian companies trying to expand the importance of this during the inclusion of those companies of Brazil in these indexes. We have worked with small and medium companies subjected an in-index in the history that we address if there's space for small and medium companies. What's the fostering our B3 for this to develop? What are we enabling? It's part of our agenda. Fractional shares debate that's close to this, we will address this later on. Tokenization, digitalization of assets and what we can do to be competitive. We are beyond the hype phase of crypto, it's more hands-on and grounded. We will have to tackle the opportunity of tokenization on more traditional assets and those we know. Extension of the time is under discussion. Not necessarily we should go 24/7, but we clearly have an opportunity to expand the times B3 works. There is clearly specific demands for expansions of certain products and also the time for certain products. We have crypto futures, future of crypto. It continues to evolve in this journey. We already have 10 ETFs in crypto and the future of crypto, which is under approval with the regulator. We also have the broadening of market training individuals and ETFs with dividends. These are some of the examples that are not only these. Obviously, this is just a bit of what I said. Some of the products that are listed. That are in our agenda. What is most important is the message that we have product teams discussion with clients of this prioritization and also this intention of being ahead of the market in terms of listing products and services that might not have an enormous demand now, but certainly we got to prepare this for the demand that will come in the midterm. Also a topic that has always been very relevant, as is in the agenda regarding the internalizations of the PO. I think, sometimes there is a bias or a simplicity, we want to work with this aspect, with the market and the regulator throughout 2023 so that we can clarify certain points that we want to think about deeply and not only in the first level. Some of the questions that we have the intention of answering throughout 2023 through discussion and debates and technical studies, and also involvement of several market agents and regulators, is firstly, if the size of the Brazilian market is appropriate for the internalizations of POs. If it is, clearly the, there's analysis that certain markets allow, and we're gonna use these markets that allow us, or should we be more criterious in this analysis base to see if the size of the Brazilian market is adequate for this. The second aspect, who is benefited and who is harmed in a market where there is unrestrained internalization? We have the RLP also, and we were very careful with the regulator to put it restricted and follow up on this. If unrestrained internalization is as positive, who benefits from this? Who are those that are harmed with this? Is it fair? This discussion we want to have an answer throughout 2023. What are the impacts that we have regarding the concentration of the distribution in this market of internalization? There is a concentration in net ability. Is this positive or negative for the market? How is this impacted in the cost and also the tariff? Did you only have to look at the execution costs of the retail as an exemption of fee, like foreign brokers that they use FIX zero or the total cost of execution. What do I mean by this? As I mentioned, the highest cost when we bring market performance is a net ability at the top of the book. We want to have more net ability so that we got to execute our volume. What is the trade-off? Is to remove the net ability, positive or negative vis-a-vis at the cost of the tariff, of the pricing. Do we only consider the fees or execution costs? This is another good discussion for us to have throughout next year. Just to supplement a detail here, what we see in the market, North American market, actually the market was already born internationalized, so you could negotiate this in the internalized market. The flow that happens in the US almost has 100% or most of it, of the retail market, it doesn't stops in the wholesalers, which are the same HFTs that also supplies pricing for the retail brokers. For this market, for the individuals you have besides the exemption of the, there is an improvement of spread and also a bit of the in the central books, for example, it's not so much favorable. I believe there is another thing, Juca, that I'd like to mention, is that when we talk about internalization, we imagine that take away the retail flow. There are two effects that are not discussed. One is one that you mentioned, which got to do with spread and price formation, the interest of the investor to re-remain in the bookkeeping. What interest in the market is to spend time, money and resources to be focused only on the bookkeeping. These people work in several stock exchanges. There should be a better place for them to get money from or earn money. Going beyond the spread, we have a very important discussion of diversity, the quality of the bookkeeping. I see, I think. Well, let's go. Supplementing what Juca and Mario mentioned, how is this discussion being done in other markets? Those that have a trend to continue or also releasing internalization, or is it a positive negative experience? According to our position, we must point out that B3 is not against internalization. It is against unrestrained internalization, but with limits, it can be positive for the market, as in the case of RLP in the mini contracts. Another thing that really bothers us is that the internalization is a way of competition with B3, which for us is a very false argument. It's not true that internalization is a way of competition. We have to have competition is with other platforms, other stock exchange that can compete under the same condition. Internalization is not a healthy way of generating competition because there is not, there's nothing that the stock exchange can do to compete with internalizations of PO. I can just supplement information. The logic rationale is to compete with the public market. This is another little auto market, it's no of, you know, taking away the flow from that bookkeeping and to put it in another place. The main takeaway message here is that the discussion is valid, it is important. It can, of course, be translated in the evolution of the Brazilian market. It's got to be done carefully with technical expertise to see what is added for the Brazilian market. We close the listed group here. Now I'm going to begin in the presentation with the part of over-the-counter. Vivi, Vice President of Operations here, we're gonna continue with your emitters and also depository of over-the-counter. We're gonna talk about the over-the-market for B3. Now, showing a bit of the corporate debt, a market that is very core for our over-the-counter market. The stock of debentures OTC grew approximately 50%. It has been growing healthy and the issuance of debentures of several emitters, new emitters, not only the infrastructure emitters that has been growing steadily since 2020 issuers. We don't only have debentures, but other instruments of fixed income growing, like CRIs, CRAs, and also we're gonna see other assets, bank assets, financial assets that have become important. Clearly here we see an evolution of what we call the DCM market, DCM market in Brazil in the last years. In the past, we didn't have the possibility of an issuer, of a Brazilian issuer to do an emission of a debt in a period of two, three years. Today, this is very frequent. We have issues of 5, 7, 10 and over 10 years. It is in the agenda of all CFOs, the access to the capital markets of local debts. A market that calls a lot of attention and quite impressive when we think that 2019, this market was in the secondary market, generated, had a turnover of BRL 600 millionaire. Here we have a secondary market every day. This market is being, in a way, internalized. There's nothing wrong about that. It's a market where the customers, the institutional funds and so on that are here buy side or even individual negotiation with the brokers. This has opportunity for us to capture in the following years, be it here in the increase of the number of issuers, the kind of instruments, and also the increase of the duration of the average debt and mainly the secondary market for the corporate debt. Another asset I would like to show is that the over-the-counter market, the volume of fixed income, we see that the interest rate is rising. We clearly see an evolution of the issuance of RDB, which is the bank debit receipts and also CDB, which bank deposit certification, BRL 3.8 trillion coming, drawing close to BRL 5 trillion in 2019, growing with the interest rate and also the growth of last year throughout 2020. The stock of issued of exempt bonds, which is more common in the LCA and CRI in CRA in the financial institution, growing BRL 400 billion to BRL 777 billion in stock. Direct treasury, direct bonds also with the more risk market being more successful. It went sideways. It began to grow strongly in 2022 with 2 million investors and with a stock of BRL 87.5 billion. Another new market here, which is recent, launched approximately two years ago, CPRs, for example, according to the new regulation, it grew over 100% and which is predominant in new agent that offer the services of the market. This shows that our traditional over-the-counter market has been growing significantly, we follow with a strategy of drawing close to these markets. Everybody knows that we have, for over five years, several competitors acting in this market, be it the fixed incomes, derivatives, secondary, we have depositories. The competition is much more common within this market. We still maintain a monitoring. We have a market share between 95%-98%. We can have it with all. We estimate that we are over 97% of market share in the product. We certainly have a strategy, over-the-counter strategy based on the operational leverage. We've always mentioned this. The idea is that the marginal cost for the fixed income clients will decrease depending on the volume. Also clearly, we have a table for discount for those who grow mostly that share with our leverage. We had the programs of incentive or Tesouro Direto that became relevant in the fixed income line of many brokerage. We launched new products, mainly for digital banks. We launched, let's say, a new platform for digital bank, which we call B3 Linha, a different demand from traditional banks. Specific demands as well of conciliation, also cloud processing. We also had encumbrances and CPR, CBIOs, for example, markets a new market in Brazil. This is the first experience that must draw closer to the regulated carbon market when we have this market in Brazil. Obviously, gonna take a number of years, but we also dominate this CBIOs market. We launch also the public instrument. So over-the-counter, the customization of the needs per customer, we understand the difference of the listed markets in relation to the over-the-counter market. We have the bias that part of the development is gonna do with customized for the customer, so we can serve specific needs of a specific customer and not the goal of always standardize and make all the customers operate equally. Our over-the-counter segment historically is we adapt to the customer's need, and this is the mindset that we do not want to lose and we understand it is a competitive differential for us. What else? The market that has been growing, the average of over-the-counter surpassed 18,000. We have over 17,000 autonomous agent. It's a high-interest market and had a contracted growth, which is very big for the following years. Lastly, strategic pillars of the over-the-counter market. Before talking about new initiatives, innovation within the over-the-counter, in respective of how traditional it is, we have worked the B3 Linha for digital banks. In cloud mode, we are also working with credit cards and duplicate, and we wanna have a more speedy team and for the company to have an agenda of reducing the time of delivery for over-the-counter customer, have a more flexible architecture, transition it to the cloud as the customers are doing, though we don't want to force a migration to this platform, which we think is more adequate for us, but we want to follow what the customers understand as being their time of movement and migration in their businesses to the cloud. Modernization and architecture, which is part of the strategic pillars for over-the-counter, so that we want to have, throughout the next 5-10 years, a convergence again to a new model of over-the-counter, but we don't want to force the customer to invest in technology if this is not an adequate moment for him. Lastly, here we see a number of innovations within the over-the-counter world. For example, we have booking, we have digital process for formulation of derivatives, new calculations of this new platform as well. We want to develop a more flexible platform for that ADTV that I mentioned of BRL 1.6 billion that we continue to grow. We want a platform that serves the specific needs of each brokerage and the potential market as a whole, and also receivables credit card and also private bonds and also a way of working within other platforms so that we can use our net ability and capacity for our competitors even, in a sense. I believe that with this, I then conclude this over-the-counter agenda. I'm very, very delayed, I know. We have about an hour now. I'm gonna run after it. Juca, Vivi, thank you very much. Now I'm gonna call Marcos Vanderlei here regarding data. I'm presenting you Marcos Vanderlei, VP of the unit of Funding Infrastructure, Kadu CEO, Neoway, acquired one year ago. We will talk briefly about our view of what are those business of data solution and try to make it tangible. It's a demand we have received from many shareholders to make it tangible. What are those Neurotech and Neoway? Even though not yet approved, we're going to talk about Neurotech and its product and Neoway and what's our view for this data solution market. First, I would say the first slide has shown when we disclosed the acquisition. It shows our objective, showing that we have a first layer of capture and generation of data input in all the markets we are present, listed, OTC, vehicles, real estate, insurance markets. We have lot of access to data information. We cannot sell data. The world is not for data. We have access to different data. Neoway was a platform that managed to capture public data through its big data platform and through also its partners within the big data platform ecosystem. The idea and view we have within this data solution business is to create products for the monetization and transforming this data solution and products that we can truly gain and make money and solve problems of our clients. This here we have some examples of the six verticals we have identified and understanding there's an opportunity for monetization of this information, either being through data selling, IPE working, APA data, cross-crossing data platform as a service solution, solving some problems of our client. These platforms are for sales and marketing platform, risk and compliance, legal analysis, fraud prevention, credit management and capital market. These are the platforms. Before talking about making tangible these products with Neoway and Neurotech, what's our wish? Where do we want to go and reach? We don't have guidance of recipe, but we want our revenue of services and data to grow regarding our business as a whole. Here we have the main boxes, the listed business market data, traditional of stock exchange, the second bar, market data and analytics of UIF funding units and revenues, Neoway recently incorporated to B3. Currently, the revenue 12 months that go beyond BRL 500 million, and clearly we want this to grow regarding our total revenue. This is the view that this business will be more relevant through timeline than it is today for our transaction or operation. Why we opt for inorganic growth within our company? We understand that we must feed in Neurotech two assets we went to get in the market. It took some time to do the acquisition of Neoway and Neurotech. They both have complementary characteristics to our DNA, we can create a sturdy market of data solutions. We understand that we have in B3 play. We have access to client technology, exclusive data access and capillarity of capture and collection of data, external data, which is friendly, capacity to deal with high volume of data, huge develop for go-to market, launching products through a modern and effective platform. Clients really enjoy and are satisfied. This is one of the main proposals of acquiring Neoway and its clients and their opinion regarding the company Kado. It was an expensive boss. We had to justify. They liked very much the platform, so we did the acquisition. Clearly this was one of the biggest surprise that we got when clients gave us a huge stimula regarding the fact that they really enjoyed the platform. Neurotech clearly has its solutions through artificial intelligence and machine learning, and it's recognized by the market as the best engine for decision, for credit solutions and fraud and precification of the financial industry and industry of insurers. This strengthen a lot our business and makes us being able through these three business union, a sturdy business of data solution is provided. I think that before moving forward, I think it's worth saying and disclosing information to all of you that giving this view that we have in this PowerPoint, all this is backed up by a sturdy process of B3 in the process of governance of such data, both B3 data and the data coming from both companies that we recently acquired. The first slide shown by Gilson is this ecosystem, not with a system. These partners will go through a data governance process within the B3 platform, so we can guarantee the source and stability and functionality and usability of such data. This was a work huge within B3 that was done and gives you the backbone to scale up this with partners and companies that are part of the group. Good point. I went so brief through the data capture products, but in the middle we the union is the, let's say, the mix and how this platform work with this data. Here is the idea, talking about some of the examples and Kadu and Marcos will help and jump in talking about the examples and solutions we have. Here we listed four examples without giving names of products that Neoway and understand and Neurotech sells, to understand a bit the dimension how this liaison among these companies happen towards its clients. First, its sales and marketing case. Kadu will talk about, you mentioned something very important in the first slide, which is product. When we talk about six use cases you saw here, we are talking about the same platform, many case, same data variables that solves different problems. This is point of the scale up, very important, the four examples listed here. The same place solving different problems. The second point, monetization of B3 data that Neoway they already have been incorporated to Neoway products. The four examples, three have these three variables included in Neoway products, and this view that we just showed is already happening. Fourth, we talk about 40% of the revenue in this market and compliance, which is more native products of the business linked to fraud. 5%, 4% because there's a penetration huge about the segment. This is important. Marketing, one of the bigger institutions, financial institutions today, the platforms of Neoway and the managers of procurement. Analyzing the chain of these clients and through the recommendation analysis of these clients, they can have a conversion that's higher than of those entity agents and the monitoring included, not only among the central managers. We have been seven years with this certain client in the portfolio, the growth rate of more than 200%. When we talk risk compliance, it's in the win-win products, and it will be highly incremented with B3 data that we talk about diligence analysis in depth. Tax identification number, individuals and corporates, and there's more specific the analysis for both cases. The analysis for this client is done with sampling. We can analyze all clients and suppliers and vendors of automated and monitoring. It's a shift of paradigm, how compliance is working in Brazil in a strong way. Legal. Legal analysis perhaps is one of the most complex products in terms of technology. We analyze 400, 500 legal procedures we have today for this case of specific use. We do the managing of the procedures of the biggest companies of telecom in Brazil. Imagine there's huge amount of procedures being managed. We understand where these procedures can go based on an historical analysis and case law data. Fraud, the recent case, and it's growing by the way, we are talking about fraud on the acquisition of clients, onboard fraud. We have a embedded product with 661 variable data of use of Enel, which is a new one product in the market that we've given example of a B3 Neoway data. We can have a differentiated product from what is offered in the marketplace. Thank you, Kadu. Now talking about Neurotech products. Marco, would you like to jump in? Yes, of course. Thank you very much. Before talking precisely of the use cases, I would like just to do a disclose saying that Neurotech, different from Neoway, that works in a market that's quite diversified. Neurotech has a huge focus earmarked for the credit cycle market in Brazil. For retail, small and medium companies, whereupon it basically has three business solution, which is the engine for decision, the process of information of algorithm for credit decision fraud, and also within this insurance process. Here, example what we do with Neoway. We had a partnership with Neoway before the acquisition, where we have experimented some things, and in Neurotech, not different from it. We have a partnership disclosed since the end of 2020, where we are having some tests. This leads us to be a bit more certain about the businesses we acquired and the potential where we think we want to go. Coming to the cases, the first example is a financial one, a big financial institution in the process to maximize the credit approval process. Not only increasing it, but also taking into account the loss reduction process. Making use of pieces of information that they have, we reach a decision and a solution that the client poses a problem. Interesting, by the way, with important reduction of financial losses increasing 5% of NPS of decision here. Another important case is for retail. Here it's a slightly different. Looking towards a process to improve the issue regarding credit approval, gauging better the credit limits of retail and looking for a process to reduce losses, maximizing the approval. There's an interesting case also, a big client of the financial market regarding collections. As Gilson mentioned, these engines, they are both for credit and collections and insurance. Also maximizing the recovery of credit of this institution with an important increase in how it made informal and reducing costs and increasing the recovery, in this case, with its clients and insurance. A work towards some insurance companies and all scalable. The example here is a client, but it can scaled up to a huge amount of these solutions that Neurotech developed, which is making a process of repricing insurance policies with the liabilities for auto insurance that was scaled here in a huge proportion for the insurance companies working on this area. It makes more tangible the solution of each one of the companies. Thank you, Marcos. The purpose was giving you a view that clients are obviously both companies have an important representativeness on the financial sector. We have a wide range of clients from different sectors. When we talk that for sure, we added more than 500 clients of Neoway and Neurotech, clients from different sectors: Telecom, pharma, insurance. The potential is huge to complement amongst these companies to create this business regarding data. Marcos, Kadu, thank you very much. Now, moving towards the next part, which talking about digital assets. I ask Nardoni and Jochen to be within this next part. Rodrigo Nardoni, VP of Technology and Cybersecurity. Rodrigo Nardoni, VP of Technology and Cybersecurity. Jochen, it's B3 Initiative Digital Assets. He's the one of the founders. Jochen, would you like to start talking about why we created digital assets? We want to allocate B3 as the author of tech infrastructure for the digital world. Thank you, Josué. During the last edition of B3, we presented the concept of what would be digital assets in the past. The provider of infrastructure services on the crypto asset value chain. I would like to talk about digital assets, but it's crypto asset, cryptocurrency, but it's not only cryptocurrency. Infrastructure for crypto assets and cryptocurrency, I'm sorry. In the past is a set of services we wanted to build on 2022 were the building year. It was the year we incorporated the tax identification number within the B3 group, rendering services regarding to digital assets, and we divided the strategy in two pillars. The first one is crypto as a service on the left-hand side, where we have those services focused on cryptocurrencies that way to B, B2C buyers. It is a public to be catered by those institutions that want to render assets to cryptocurrencies to its clients. Translating this, it is an institution that wants to offer crypto assets for end players and customers. There are several steps commercially as well, either with exchange of cryptocurrencies or OTC of cryptocurrencies, typically. You have to send off dollars abroad and much of the net ability is out of the country. There's a risk side of this. Recently we saw this happening in the crypto asset world. Here, the service we are selling is to make easier the work of these institutions. we take over the net ability provider services, we engage a partnership with crypto assets partners. The settlement process is using the exchange rate and the ISO instructions and the API and sell this for the institution. Therefore, this service was built throughout 2022, and it's almost ready for this stage of pre-operation. The other side, the other pillar, institutional infrastructure for digital assets. Here we look at all value chain from the beginning, tokenization process, generation or smart contract, up to the escrow agent 24/7, making easy the settlement, so forth. This work is still being built, and we have a plan of selling this service as in modules. The client can engage just the module of a escrow or the platform as a whole. The objective, supplying a B2B buyer for those with assets on portfolios that we want to make it token, tokenize these assets 24 by 7. They need a platform to be more fit for this, so they can engage this service. Thank you very much, Jochen. That gives you an overview. Yes, we want to work in the crypto and tokens world through simplification, cost reduction on the terms of operations. The future to have a better cost, and what it will be this regulation in the future with all our knowledge and lessons learned, making possible for clients not need to do all these investments. Again, I stress you, we want to be this provider as a service of options and services that clients when they. Our B2B clients can focus on capture of clients in order that they can use our infrastructure. The second slide we want to mention here regarding new initiatives and IT platforms that show in the view we try to build that we have several opportunities of performance of IT services that are anchored surrounding B3. We have here a wish and view that we can, yes, search for new revenue sources and services surrounding our position. Between B3 and its several clients, i.e., individuals, institutional clients, funds for investors, we have several agents that can participate of the offer or our products through them reach the financial market for these clients and several trading different types of services, very fragmented with demands of simplifying performance amongst B3 and these clients. These vendors were close to autonomous vendors, managers, brokers, banks, administrators, custodians, and also we clearly want to be partners of these vendors and of these solutions, some of them already within or inside B3. We have to know how to mold them so that we have to invest more in these solutions so they can be monetized. We listed a number of examples here that are under discussion at this point, white label and the brokerization services. We can help eventually or have solutions so that things become easier, so that the brokerage can also have the service with us, billing, microservices, and so on. We can add and offer this to our customers, hub buy side, a number of initiatives of product that we want to put to the risk management control, margin control of products that can make the buy side easier. Now, APIs of investment as a service so that the investment product can be offered outside the traditional pathways. You can buy in this investment in a retail platform, so you can purchase it from another platform and somebody's gonna supply this technology. We understand that we have a bias to capture here part of this revenue, which is available in this new setup of services that we have here in the financial sector. We have several discussions that are ongoing. We're still in the lab working some of these operations, some of these potential partnerships so that we can go to the market. Thank you very much, Jochen and Nardoni. I'm gonna follow now with culture. I'd like to call Ana and Eduardo Farias. Well, Ana is Executive Director of People, Marketing, Communication, and Sustainability and Social Investment. Eduardo Farias, Executive Director of Governance and also Integrated Management. The idea is talk about the journey regarding culture of B3 in ASG initiative and also portfolio management of what we've been doing. Ana, do you want to start with? Culture and ASG are together in this strategy. We're just gonna show a different angle how this culture happened in practice. B3 has a very strong culture. This reflect in attraction or retention of talents that we see, which is very different from the manage... If in 2017 we had two separate companies, and we began to design values and costs. Today, we are among the best companies to work with in the several levels. We developed these culture aspects, and also with the custom easy of integrating people and an environment where people could learn. This unfolds, for example, in segmentation that we mentioned previously. Today, all our customer front is segmented, so we can understand very well what our customer want, and we then transform this in action and service propositions. An example that I mentioned not only regarding attraction and retention, something that's important for you to know is that during the pandemic, we made the levels of turnover lower than our peers, which was 20% on an average of turnovers. This shows the capacity of understanding our markets. We've talked about the strategy of agility, innovation, understand our customers easier. I'm gonna give you an example. When we were designing segmentation of PF, we had to learn who this customer was, what he did, how did he consume, and Gilson showed that the customer had around BRL 20,000. It changed then the way he consumes and who is this customer. We had to change our product placement, our conversation in this network. Evidencing that culture happens in practice from 2022, we now intensify the confrontation of agility, innovation, and also ambidexterity and answering very fast to the market. Farias is gonna talk a little bit about how agility and simplification and NPS works. It's important for you to understand that we're gonna talk more and more about this and how we're gonna learn with these initiatives, for example, B3 digital assets, and also which is core, which is very strong. We're looking at this ecosystem and drawing close to the customer's needs. Currently, B3 then maintains its position with a very strong answer competitively. This is a very nervous market, and we got to be very close to the customers. How does this becomes, turns into agility and or simplification? Well, for us to do all our initiative, implement our initiative products and services, we organize within at home. We talked about this portfolio. We brought our mindset of agility. Agility for us here is not simply execute a product fast. Here are the demands that we hear from our customers. We want to prioritize this internally. We have a very directed focus for the customer. With this, we have our metrics for success. For 2022 was for us a great evolution, which we built our OKRs. We were very much focused on delivery, and we're very much asking ourselves what are the benefits these deliverables have based on what we heard from our NPS, based on what we heard from our delivering of making business. Obviously, we have an enormous diversity of several products and services that we offer. We look to over-the-counter, we look listed data and also adjacent products. We have individuals, we have several portfolios that we have here. How do we segment this client and how we do the best delivery and how do we then make the speed up? We worked a lot with this to improve the culture so that all of focus on a solution of one problem to one customer and not a specific for each of the areas. In the company, we already have over 1,000 people completely dedicated with Agile model, and most of it impacted on this model that we have in-house. With this, we had an internal initiative which we called Simplifica. Clearly, we want to simplify our internal processes so that we can make a better delivery to our client. We are in our 11th wave. These are 3-month waves where we choose 20 initiatives so that we can clear the path, so that we can become lighter, more agile, and deliver things faster to our customer. We thought this initiative would be fast, but we believe that this is still a pathway that we have to follow so that we can serve our customer better. We have heard a lot of this, and we have measured. Most of it, we have it retrofeeds this portfolio. We hear internally and externally so that our platform becomes much more agile and much more simple. I want to point out what Ana mentioned. We mentioned that we also mentioned IN-NPS in seven verticals of the customers. In all this customer segment, we work, and we are already in the excellence zone of NPS. Obviously, we didn't begin in this zone of excellence, but we have improved this. What we don't want in this company that we have, people become, you know, monopolize, or we become too comfortable in or laid back in this area. We want to be prepared to compete in any scenario with the competitors here in Brazil, abroad. We cannot have some sort of laid back situation in this journey. NPS methodology, migration to the Agile methodology culture is all part of this journey. We are, at this moment, working strongly these last point mentioned by Ana, so more autonomy, evolution, speed and hierarchy. Now let's go to ESG. I think our positioning, we always say that when we talk about several aspects of governance, mainly beginning with governance, but also about ESG acronym, we have a double hat, so to say. We can explain what is exactly the ESG regarding ESG positioning. Before we begin, we have to have very good practice. We are a listed company, therefore, we have to use the best practices. We are very much connected to good social and governance, good practices and environmental practice. Obviously, what is got to do more with us is probably governance and environment. We have a number of practices from the board to the entry-level. We have three women in the board and also working with diversity. This was a journey built in here. We have programs of entry in technology for women. We then form these women supported by B3 Social. We bring women in technology, helping their development in-house. We have our private social investment field, where we have over 50,000 input because we have also diversity and also social, emotional in great NGOs that work and give more efficiency with this kind of social investment. We have management of human capital, which is best in class here, which is very clear indeed. Also we have worked once again other aspect that goes beyond social and but is also within government and very strongly cybersecurity. We have a very strong agenda that Nardoni then conducts and Farias as well, but which is part of the agenda. This done and acknowledged, and we can see our performance within the ECB threes that we have in this portfolio, but also regarding ESG and proxy voters as well. We are always investing case regarding ESG practice. This done, then we can manage to do this role outside, which is induction of our products and services. Our induction process got to do that the company raised the bar to improve their practice. Examples that we like to sell is the New Market that happened 20 years ago, where we talk a lot about the rights for minorities. At that time, it was kind of strange, but today we cannot imagine a market with this New Market without this New Market. In ESG, where we propose is that the company then practice good, have good practice of diversity. We have entrepreneur diversity. We have broken two records of the number of registration of companies and applying as simulated for Easynvest and we're reaching already with over 70 companies, Easynvest B3. The first stock exchange, they had an issuance of SOB, and the first company was just as vinculated or our market is audited externally. Less than 9% of the companies that do this annual report have external auditing. We have a number of actions that we have done to position our company. Highlighting three of three great blocks in this next year. We were the launching of the Índice de Diversidade B3, connected with SOB goals. We have worked strongly with ESG data and what difficulty that we have, how we analyze and standardize and compare this data. B3 already has a platform which is called ESG Workspace. You have all the data of the company that are in the Easynvest with comparative responses per sector. This makes us understand the new market and raise the bar of what people are doing. The carbon market, as Gilson mentioned, we work in several fronts in this respect. Since the task force to do how to make this carbon market more robust so that we can compete worldwide. Also we look, our ability to work with registration and transparency for this market. This is what you can expect for next year. You accelerated, here. Farias, thank you very much. I'm gonna call André to close and just highlighting our guidance that were published last week. I'll try to do this fast so that we can have time to talk afterwards. We showed that we published our guidance on Friday. The first disclaimer I'd like to say is that these figures that we saw of guidance for next year, they still not contemplate financial information regarding Neurotech. As Gilson mentioned in the morning, we had the approval of the stakeholder for the transaction, but we still need some conditions to be fulfilled, mainly of regulatory approvals. These figures do not include Neurotech data. As soon as this is done, we will sit, revise the figures for Neurotech and incorporate it in the guidance and communicate it again. It's worth saying that a more general comment, which most of you have noticed, is that we also have the trend more and more to migrate of expenses that previously were classified as CapEx to OpEx. This has got to do with this new way of using to develop projects with many MVPs, application of a methodology of Agile, and the journey of adoption of cloud. This makes us have less need for the own service and more expenses with the cloud. There is a more structural migration regarding the expenses with a heavy weight in the last years for OpEx. For next year, we announced on Friday the interval of expense adjusted for core business of BRL 1.4 billion-BRL 1.5 billion. We said that we must grow in our core business something around the inflation. This is our goal regarding investment and showing a bit of what I mentioned previously, lower, slightly slower lower volume of investment in the core of it, so interval of BRL 180 million, BRL 230 million, and the ex-adjusted expenses of new initiatives. I'm gonna give you a little bit of more information about these new initiatives. A very close, which amount will be BRL 495 million-BRL 665 million. Here, serving to the market demand, we began to give an investment guidance of CapEx in these new initiatives. For next year, we estimate an interval of between BRL 20 million and BRL 50 million and expenses pegged to billing in line to what was the projection for this year, interval of BRL 240 million-BRL 250 million, which is equivalent. This is important to say that this is a part, a small part of our revenue, and that usually the growth, the performance is directly pegged to the behavior of these revenues. With this, we close the guidance. Disbursement. With disbursement of BRL 2,000,000,435-BRL 2,000,775. With an interval of depreciation and amortization and the guidance, both for financial leverage as well as distribution of the net profit, we have a leverage of 1.9 times the EBITDA. Distribution of most part of our cash flow generation, which would correspond to 110%, 240% of the. Partners. of the net profits. It's part of the partnership. Mm-hmm. Partnership of net profit. Now, regarding these expenses, there is a migration of CapEx to OpEx, and that blocks of new initiatives, I believe it's important to highlight that approximately half of these expenses are related to initiatives that are of project with the of revenue that are beginning now. The initiative that Jochen brought is an example of this. It's a new initiative that's still beginning. It's still in the maturing phase. There is this set of expenses and many initiatives that do not have a direct effect on the revenue. All the investments related to the individuals that are in this group, there isn't a direct revenue, but it does contribute to several parts of the rest of the business. There's another block that represents approximately of the other half of this group, which are those expenses related to those companies that we acquired recently. Where you have businesses that are more mature, obviously with the potential of growth quite substantial, but are more mature businesses. Also they bring a base of revenues almost the same size of the expenditures. Most of these businesses, either they reach the break-even or close to the break-even. It is important to give more visibility regarding what do we have in this big block of new initiatives and new businesses, more incipient, what are those in this first stage or initiatives that don't bring any direct impact on revenues and those businesses that are more mature in growth and expansion phase. This is it. Well, with this, we wrap up our first section. I don't know we have a way to next section. What I would like to suggest is the following: We are a bit beyond the given time. We are slightly late 10 minutes, to be more precise. For those who have enrolled, we will have the group meetings now. My suggestion, those who will attend group meetings and have questions, please, focus to do the questions and pose them during the group meeting. Those who will not be part of the group meetings... I think all here that presented with me, they will be with the group meetings at least 30 minutes. Those that might not be able to be part of the group meetings and have a question, we will open the floor for these guys. We are open for the questions. I think everybody will be part of group meetings, which is really good. It was just to be nice, let's say. I think most of them are going to be part of the group meetings. Just so in order to abide by the given time, let's split to the group meetings. The RI will be helping us to set up the group meetings. We have two rooms in the building on the Quinze de Novembro and one room here, and groups will not change. Who will go throughout the groups are the executives. Once you are in the room, just stay there. Don't be concerned that we are those who will go from room to room. Thank you very much for your attention.