Good morning, and welcome to EcoRodovias' second quarter of 2022's earnings conference call. With us here today are Marcello Guidotti, CEO of EcoRodovias, and Andrea Fernandes, Director of Corporate Finance. This presentation is being recorded and all participants will be in listen-only mode during the presentation. After that, we will begin the question and answer session for analysts and investors only, when further instructions will be provided. Should you need assistance during the call, please press star zero to reach the operator. The audio and the slides of this conference call are being broadcast simultaneously at ri.ecorodovias.com.br, where you will find the presentation for download from the webcast platform in the investor relations section. Before proceeding, we would like to clarify that the forward-looking statements that may be made during this conference call relating to EcoRodovias' business prospects, projections, and operational and financial targets are based on the management's beliefs and assumptions as well as on currently available information. They involve risks, uncertainties and assumptions as they refer to future events, and hence depend on circumstances that may or may not occur. Investors should understand that general economic conditions, industry conditions, and other operating factors may affect the future performance of EcoRodovias and lead to results that differ materially from those expressed in such forward-looking statements. I will now turn the floor over to Ms. Andrea Fernandes, who will discuss the second quarter of 2022's results. Ms. Andrea, you may proceed. Good morning. Welcome to Grupo EcoRodovias' conference call, today discussing the earnings of the second quarter of 2022. We thank you all for your interest and participation. Strengthening governance, the new lean, agile, and efficient organization structure was approved yesterday. Marcello Guidotti, a professional with vast experience in the sector and deep knowledge of people and internal processes, was elected CEO. The board also elected the statutory board of executive officers to ensure efficiency, productivity, innovative solutions, and ESG best practices, with focus on sustainable growth and capital discipline. Now on the highlights. The quarter was marked by some important achievements, such as winning the concession auction for Rio Valadares, which shall generate EBITDA and operating cash from the start of operations expected for late September this year, improving the company's leverage and extending the duration of the portfolio to 22 years. In June 2022, ECO135 signed the first amendment to the concession agreement, which includes the works at Montes Claros ring road, excludes the urban stretch, and grants a discount on the entire concession fee for 30 months. This month, BNDES and Banco da Amazônia approved the long-term credit facilities for Ecovias do Araguaia in the aggregate amount of BRL 4.2 billion, with maturity in September 2051. Also in July, ECO101 filed with the National Ground Transportation Agency, ANTT, a formal declaration of its intention to participate in the friendly termination of the concession agreement. This quarter, the company launched an efficiency program called EcoRodovias Value Agenda, a program that will be supported by a project of digital transformation of its organizational model. With this program, we intend to maximize the company's value, focusing on organizational efficiency driven by people as leading players, oriented by data and using applicable technology. Actions are already being implemented and solid results will be seen as of next year. Moving on to operations performance on slide three, consolidated traffic had a 7% decrease in the second quarter. Comparable traffic posted an increase of 6% in the quarter, driven by the relaxation of restrictive measures and the progress in COVID-19 vaccination coverage, the export of commodities such as soybean and corn, and the industrial recovery. The highlight of the quarter was light vehicles with an increase of 10%. As for the group's consolidated financial performance, on slide four, we see the evolution of gross revenue with an increase of 18% in the second quarter. Excluding construction revenues, gross revenues decreased 10% mostly due to the termination of concession agreements at Ecocataratas and Ecovia Caminho do Mar in November 2021. Comparable gross revenue was up 9% due to traffic increase and toll tariff adjustments. It is important to note that during the second quarter, adjustments were applied in the amount of 10.5% at ECO135, 13.9% at Eco101, and 21.5% at ECO050. In July, the tariff adjustment applied at Ecoponte was 22.5%. At Ecovias dos Imigrantes and Ecopistas, the concession authority recognized toll tariff adjustments temporarily via compensation with funds from the state treasury, for which a contractual amendment is in advanced state of formalization. On slide five, we show the comparable gross revenue for the first half of 2022, with an increase of 11%. On slide six, net revenue was down 11% in the quarter due to the termination of Ecocataratas and Ecovia Caminho do Mar. Cash costs 7% increase below the inflation of the period is mainly due to the expenses with consulting services for the studies of future auctions, salary adjustments, and non-recurring amounts. On slide seven, comparable EBITDA in the second quarter amounted to BRL 469 million, with EBITDA margin at 65% due to traffic increase and toll tariff adjustments. Comparable EBITDA in the first half of 2022 was of BRL 944 million, with a growth of 8% and EBITDA margin at 65% as shown on slide eight. On slides nine and 10, we present the evolution of recurring net profit impacted mostly by the termination of the concession agreements at Ecovia Caminho do Mar and Ecocataratas and the financial result. Investments in the second quarter of 2022 on slide 12 totaled BRL 740 million, with BRL 1.3 billion in the first six months. The main investments at the highway concessions were for the implementation of toll plazas and operational bases and pavement conservation works at Ecovias do Araguaia, duplication and pavement conservation works at ECO135 and ECO101, and improvements at intersections and accesses and pavement conservation works at Ecovias do Cerrado. On slide 13, we closed the quarter with a leverage of 4.1x, in line with the company's forecasts due to the termination of the concession agreements for Ecovia Caminho do Mar and Ecocataratas, which accumulate up to July, seven months without contribution to the consolidated EBITDA, realization of CapEx and not collecting tolls at Ecovias do Araguaia. It is important to note that the net debt over adjusted EBITDA indicator for EcoRodovias Concessões e Serviços was of 3.7x. The beginning of operations of the new assets in the fourth quarter, as well as the good operations performance and the recent tariff adjustments will allow us to maintain the leverage level at sustainable levels in the midterm. Moving on to slide 14, we closed the quarter with cash balance of BRL 1.3 billion. Maturities in the second half of the year are concentrated at EcoRodovias Concessões e Serviços and will be refinanced. On slide 15, we highlight the opportunities that have been carefully selected by the company, federal concessions in Paraná and BR-381 in Minas Gerais, Noroeste Paulista in the state of São Paulo, and Triângulo Mineiro, also in Minas Gerais. Opportunities to invest in the Brazilian highway market are always assessed with a focus on maximizing returns on invested capital and financial discipline to achieve sustainable growth and business continuity. On slide 17, we present the main highlights in the ESG agenda. EcoRodovias was included in the greenhouse gas emission reduction targets by its parent company, ASTM, in the Science Based Targets initiative, SBTi, and the company supports the Vision 2045 project, whose purpose is to support the UN goals, inspiring companies to actively participate in the creation of a better world. ASTM will represent the infrastructure and construction industry. More details on our ESG agendas may be found in our earnings release. This concludes our presentation. We would now like to move on to the questions and answers session. Operator, we're ready to take questions from our analysts and investors. Thank you. Thank you. We will now begin the question and answer session for investors and analysts. If you have a question, please press star one on your telephone. If your question is answered during the session, you may remove it from the line by pressing the pound key. The questions will be answered in the order they are received. We ask that you use the handset when asking the question in order to maintain excellent sound quality. Our first question, Victor Mizusaki, Bradesco BBI. Good morning. First, Marcello and Andrea, congratulations. I have two questions. First, about Eco101, if you already have any forecast or any idea of the amount of the indemnity that EcoRodovias would be entitled to receive. About new projects and leverage, on August 8, there's the auction for the Triângulo concession. Do you see any risk of this auction being delayed? About new projects, there's Araguaia. If I'm not mistaken, the beginning of toll collection is November 14. Is this confirmed? What would be the impact on leverage with the beginning of toll collection? Good morning, Victor. Thank you for your question. Thank you for congratulating us as well. About Eco101, the forecast is the first stage of the request to participate in the rebidding process. We're confident that this will be a relatively fast process, and the indemnification will be defined further along the line, but the base is the investments made. We have intangible in the amount of about BRL 1.5 billion. That's the base of the investments made. Again, the discussion about final values will come up at a later stage. We're confident that it will be as it should. About the new projects, the Triângulo Mineiro is in the pipeline. It's a project that is obviously of our interest. It's in a region where we have two concessions, but we're studying it and still have to make a decision, although the auction is scheduled for next week. It is a project that is part of our priorities. Araguaia, yes, it's confirmed, the entry of operations. At first, we'll have a mechanism of mitigating traffic risk. Traffic is higher than the limit, and there'll be a contribution in the year of BRL 230 million or so in terms of the EBITDA. Great. Th ank you. Next question, Luiz Capistrano, Itaú BBA. Good morning. Thank you for the opportunity. Congratulations for the new organization. My question is about CapEx. I think it's very clear that the company will go through a peak soon and then start a deleverage trajectory as the new assets become more robust and mature. I'd like to understand from you what you imagine for a little bit more of color in terms of numbers, the level of the midterm. At the same time, we'll have the leverage going down with the EBITDA of the new assets contributing to the denominator, but at the same time, we also have a strong CapEx coming in starting on the fourth, fifth year. In this new five-year horizon, maybe a little bit more, how do you think this curve is going to behave? Should we stay at this level of 3x? My second question, directly related to the first, is how you see the participation of these new assets of interest that you mentioned, Paraná 381, Noroeste and Triângulo. Thinking about this room for leverage in this horizon of five-seven years, the idea is to participate in this project with a minority participation in a consortium. Do you see fundraising for the future? Just trying to understand the strategy to be able to focus on these new projects. Thank you. Luiz, thank you for your question. We are getting into a phase of an important phase for CapEx. We have assets that are almost reaching the final stage, 135 in the level of investments, Ecovias do Cerrado coming in, Araguaia. Leverage now this year is going up irrespective of operating cash generation being positive because we're accumulating months with no EBITDA from the Paraná concessions. The net debt-EBITDA ratio, considering the EBITDA of the last two months and full year, will be in November. Until November, we're accumulating growth in this indicator, but this is mostly due to this buildup of the last 12 months, not in terms of cash generation. There is balance between cash generation, operational EBITDA and CapEx that will be reached around December in 2023. We're starting to achieve balance and stability between cash generation and indebtedness. Of course, with the organic growth and tariff adjustments and other maturities on ECO050. This balance tends to decrease, so we'll have a longer CapEx cycle due to Araguaia and Minas, and the balance will be in terms of cash generation. We're going to the covenant of consolidated net debt, even in the midterm, between 3.5x-4 x. That's important. With a very positive dynamic between investment CapEx, it is an investment in projects that have a high return. Again, cash generation will be positive. With that, we will look at new assets, yes, but we have it very clear the dynamic that affects our balance. They must be in synergy with high returns and they must make sense to EcoRodovias. Equity solutions and minority shares, it's always considered in the medium and long term. We've had opportunities with Ecovias do Araguaia, we have GLP. We always look at opportunities in the sense. We are very rigorous in our selection of the opportunities with good returns. BR-381, we believe has a return of almost 10%. It's a great return, but we need to be mindful of the possibilities. Always with an eye on our long-term financial sustainability. Thank you. Thank you, Marcello. Next question, Andressa Varotto, UBS. Good morning, Guidotti and Andrea. Thank you. Congratulations on the new roles. My question is about the compensation that you received from the State of São Paulo for this period of the delay and the adjustments. The cash effect of that will start with the amendment. Do you know when it's going to be signed? Thank you. Thank you, Andressa. Compensation will occur every two months. In July, August, by the end of September. Every two months until December, when we can recompose the tariff. The mechanism and the amendment are pretty much ready for signing. It will occur very soon. Everything is going according to what has been announced. Everything's in line. At the end, everything will be aligned as per the agreement rules. Thank you. Next question, Felipe Nielsen, Citi. Good morning. Thank you. Congratulations on your new roles, Marcello and Andrea, and the director as well. I have two questions. The first, thinking about the financial aspect, the leverage, you're in a leverage increase process. It's natural. This leverage will decrease as the future projects come in. Thinking about new funding or rolling debt in the short term, do you see any risk of a capital increase in these allocations? How do you see the capital structure and capital cost in this process? My second question is more subjective, but I'd like to understand from you. Looking at the elections that are coming up, the political scenarios, do they bring any risks in terms of public policy change or a change in focus for the company and the industry? How do you see that? Felipe, thank you for your question. About leverage and cost of capital or cash costs, we are able to get funding. We have access to market liquidity at always competitive costs. We're seeing that in the last operations, we improved clearly what we're carrying, that some operations issued in 2020 during the pandemic, for example. We can get it better. We don't see any problems in liquidity or cost of financing. Our capital structure, we always try to maintain it balanced, transferring the debt as much as possible to operational units. As Andrea mentioned, the funding that has been raised for Araguaia is considered in the project. We try to avoid and limit and reduce debt and carrying the projects, not only project debt. Of course, there's a cost and better cost and better tax efficiency. About the political scenario, for us, it doesn't make a difference. We understand that the line of any government infrastructure is a must in Brazil. The private sector has been showing and leveraging highways and other industries are taking leading roles, and we understand that this will continue. The mechanism has been settled for the study of new businesses and our participation. It's very solid, very sound, and everything is well-structured, and it has been happening in other governments. I don't think it's going to change very much for our sector. Great. Thank you. Ladies and gentlemen, we now close the questions and answer session. I'll turn the floor over to Ms. Andrea Fernandes for her final remarks. I thank you all for participating in our call. My team and I remain available for any doubts that you may have. Thank you and have a great day. EcoRodovias' conference call is now closed. Thank you very much for your participation and have a great day.