Good afternoon, everyone. Welcome to Equatorial Energia's Q4 2024 earnings conference. Joining us today are the company's CEO, Mr. Augusto Miranda, Vice President, Mr. Leonardo Lucas, Regulation Director, Mr. Cristiano Logrado, Financial Strategy and Investor Relations Director, Ms. Tatiana Caroga Vasques, and Mr. Tinn Amado, President of Echoenergia. At the end of the presentation, they will be available to answer any question you may have. We would like to highlight that simultaneous translation is available. To access the service, click on the interpretation button at the bottom of your Zoom screen and select your preferred language. This conference is being recorded and will be available for replay on the company's Investor Relations website, ri.equatorialenergia.com.br, along with today's presentation slide deck. Please note that all participants will be connected in Attendee mode during the company's presentation. Afterwards, the call will be open for questions, and further instructions will be provided. Before proceeding, we would like to remind you that any forward-looking statement made during this conference is based on the beliefs and assumptions of Equatorial Energia's management and on information currently available to the company. These statements may involve risks and uncertainties, as they refer to future events and, therefore, rely on circumstances that may or may not materialize. Investors, analysts, and journalists should be aware that events relating to the macroeconomic environment, the industry, and other factors may cause actual results to differ materially from those expressed in said forward-looking statements. Let's now begin the presentation by turning it over to Mr. Augusto Miranda. Mr. Miranda, please go ahead. Good afternoon, everyone, and thank you for joining our earnings call. Despite a challenging macroeconomic environment with rising interest rates and operational challenges due to severe weather events, 2024 was another year of consolidation and growth that derived value for the Equatorial Group and our shareholders. We celebrated our 20th anniversary, a journey that began in Maranhão, which laid the foundation for our growth into a multi-utility holding with operations across all regions of Brazil. We ended the year with a record adjusted consolidated EBITDA of BRL 10.9 billion, up 11.3% versus 2023. Our investment levels remain strong, totaling BRL 8.9 billion, primarily focused on network improvements, enhancing quality, and expensing our distribution concessions to serve 14.4 million customers, and that's excluding Sabesp. In terms of adjusted net income, we reached BRL 2.5 billion, a 19.4% increase from 2023. As for dividends, we declared BRL 987 million, or BRL 0.79 per share, representing a 75% increase compared to the dividends we declared in 2024 for the 2023 fiscal year. This amount includes BRL 111 million in interest on capital, or JSCP, which was paid on February 20th. Excluding the already distributed JSCP, this amounts to BRL 0.70 per share. We remain focused on optimizing our capital structure through asset recycling initiatives, including the sale of Intesa and SPE07, private capital raises, and the capitalization of last year's dividends. These efforts have allowed us to absorb new acquisitions while keeping leverage at pre-acquisition levels. On the operational side, we saw strong market growth despite 2023's high base for comparison, with a 7.3% increase in the group's distributed energy volumes. To support our growth, expansion, and operations, we raised approximately BRL 23.3 billion. We also acquired a 15% stake in Sabesp as part of that company's privatization process, becoming a reference investor, another important step into the sanitation sector. Additionally, we completed the construction of the Ribeiro Gonçalves and Barreiras I solar parks. Now, let's move to slide 4 to discuss the highlights of the fourth quarter of 2024. The fourth quarter was marked by progress across both our operational and financial fronts. We reported adjusted EBITDA of BRL 3.2 billion for the quarter, up 16.2% year over year, driven by strong performance in our distribution segment. This figure excludes non-cash effects from VNR, IFRS, and MTM adjustments. We also saw a significant 26.7% increase in available liquidity compared to Q3 2024, driven by cash strengthening initiatives and early prepayments of funding operations that were scheduled for early 2025. Additionally, we recorded tax gains of BRL 837 million during the quarter, mainly related to the recognition of tax credits from the exclusion of ICMS from the PIS and COFINS tax base, as well as other overpaid tax recoveries. Our investments for the quarter totaled BRL 2.7 billion, primarily focused on the distribution segment. We also made significant progress in reducing consolidated losses. Despite strong growth in distribution volumes, we remained below the regulatory loss limit for yet another quarter, maintaining solid collection levels and disciplined cost management. In terms of quality indicators, we improved DEC levels in the states of Goiás, Piauí, and Maranhão compared to Q4 2023, with notable success in meeting FEC targets in Goiás. As a subsequent event, we would like to inform you that the Board of Directors has approved Equatorial's application to ANEEL for the renewal of our Pará and Maranhão concessions. This follows an extensive process of defining renewal conditions in collaboration with ANEEL, MME, and other stakeholders. The proposed contract represents a step forward, offering legal certainty and flexibility to accommodate any changes in the sector over the coming years. We also had a favorable ruling in the Piauí RTE administrative process, which had been previously denied in 2019 but was finally ratified in the March 18, 2025 hearing, generating an additional gain for Equatorial Piauí. Finally, on March 11, ANEEL approved a regulation to include distributed generation, or GD, in the calculation of non-technical losses for distribution companies, which will have a positive financial impact for distributors. I will now turn it over to Leo on slide 6, where we'll discuss the group's consolidated economic and financial performance. Thank you, Augusto, and good afternoon, everyone. I will briefly cover the group's consolidated economic and financial performance, focusing on adjusted figures that exclude non-recurring and non-cash effects. Our consolidated gross margin increased by 6.3%, with distribution contributing an additional BRL 319 million, driven by market growth, reduced losses, and tariff adjustments. If we adjust for the GD effects, had they impacted Q4 2023, the margin growth would have been by 7.3%, or BRL 303 million. Despite market growth and keeping our consolidated loss index below the regulatory level, we maintained strict cost discipline. Adjusted costs and expenses grew by 5.3%, and on a same asset basis, normalizing the effects of Intesa, SPE07, and Echoenergia solar farms, the increase would have been by 4.5%, in line with inflation. As a result, our adjusted EBITDA for the quarter reached BRL 3.2 billion, up 16.2% year over year. Adjusted for GD effects, growth would have been 17.9%, or BRL 486 million. We ended the quarter with a net debt-to-EBITDA covenant ratio of 3.3 times. Excluding a one-off provision for GD consumer liabilities in the fourth quarter, our covenant adjusted ratio would be 3.2 times, in line with the previous quarter. Also importantly, we strengthened our cash position this quarter, reaching BRL 13.7 billion in available liquidity, as we seized specific fundraising opportunities in the market, ensuring a short-term debt coverage ratio of 2.2 times and reinforcing the group's financial flexibility. Finally, you can see our overall investment level remained unchanged even after construction of our solar power projects was concluded, which shows how the distribution sector has grown, especially when we look at the special obligations line. You should also bear in mind that, due to seasonal factors, the fourth quarter is a time of the year when our CapEx is traditionally higher. Now, let's move on to slide 7. Here, we can see that the company's gross debt profile at the end of Q4 was 40% exposed to IPCA and 56% to CDI. When considering net debt, given that the company's cash is remunerated at CDI, this exposure stands at approximately 46% to CDI and 49% to IPCA, the latter with an average cost of this inflation rate plus 4.9% per year. Regarding the amortization schedule, we reduced the maturities for 2026, which decreased from BRL 11.2 billion in Q3 2024 to BRL 7.9 billion, mainly due to the completion of refinancing Equatorial Goiás debts. These debts were incurred at the time of acquisition to prepay any existing loans with the former controller. Additionally, out of the BRL 7.9 billion in obligations due in 2026, BRL 3.3 billion corresponds to our financing for the acquisition of Sabesp. On a pro forma basis, considering subsequent events such as the amortization of BRL 1.5 billion in commercial notes from Sabesp and early redemptions of the sixth issuance in Pará and the ninth issuance in Maranhão, the amount due in 2026 would decrease to BRL 6 billion, which is lower than what we reported for 2025. Now, let's move to slide 9, where we'll provide an overview of the operational and financial performance of the distribution segment. On the left-hand side of slide 9, we present the consolidated performance of our distributors, showing the significant volumes of injected and distributed energy, with 2% growth in injected energy and 3.6% growth in distributed energy. This was achieved despite a high base for comparison in Q4 2023, which was influenced by heat waves during that period. Additionally, we reduced losses by 0.9 percentage points compared to the regulatory limit. Despite market growth and significantly lower losses, we maintained a high collection rate of 99.5%. As to PECLD, we had non-recurring effects in the quarter, such as updates to the provisioning matrix and adjustments to the aging period for full provisioning of invoices. Adjusting for these effects, the consolidated PECLD, or allowance for doubtful accounts, was 1.56%. In terms of quality, Goiás is the main highlight. In addition to reaching the regulatory FEC level, its DEC has gone down by 5.7 hours versus Q4 2023. This result underscores our turnaround capacity, remembering that we have been operating that concession for only two years. We should also highlight the three-hour reduction in Equatorial Piauí's DEC, which is now very close to regulatory level. On the right-hand side of the slide, we show you the evolution of our gross margin in the distribution segment, which grew by 9.1%. The main contributors, again, were BRL 104 million from Equatorial Goiás and BRL 81 million from Equatorial Piauí, as well as BRL 56 million from CEA, Equatorial Amapá. This development was driven by market expansion, an increase in the Wire B tariff, and improved loss performance in Goiás and Amapá. Adjusting for the accounting effect of GD customer liabilities, that margin would have grown by 10.4%, or BRL 358 million. The nominal adjusted PMSO, or average price of services and operations for the quarter, grew by 8.4% compared to Q4 2023, showing some volatility due to the company's turnaround process. Meanwhile, the 12-month PMSO per consumer showed a slight increase by 3.3%, remaining below the inflation rate. These movements resulted in an 8.5% increase in adjusted EBITDA for distribution when adjusted for GD effects, or when adjusted for GD effects, growth would have been 10.4%, or BRL 232 million. Now, on slide 11, we take a look at other segments of the group. In transmission, adjusted regulatory EBITDA declined by 7.6%, mainly due to the sale of SPE07 in December 2024. Since we have had divestments from Intesa and SPE07, we also show you a same asset view where we had a negative variation by 4.6% while still maintaining a margin above 92%. In sanitation, we reported a positive EBITDA of BRL 1.4 million, with a 6.3% increase in sewer billed units compared to Q4 2023, and an improvement in water coverage index, which went from 42% in Q4 2023 to 63.5% in Q4 2024, a 21.5 percentage point increase. In renewables, adjusted EBITDA grew by 3.3%, driven by the operational start of Barreiras I and Ribeiro Gonçalves Solar Parks. Additionally, we reduced constrained- off by 63.8% compared to Q3 2024. In generation, we faced an impact of 120 megawatt constrained- off, the equivalent to 16.9% of our total renewable portfolio generation. Excluding this effect, quarterly generation would have exceeded P90 levels. Now, I will turn it back to Augusto for his additional remarks. We recorded another quarter of progress on various fronts, staying focused on our mission to deliver consistent, growing results for all our stakeholders. In terms of leverage management, we'll remain proactive, looking for gains through financial performance and inorganic actions. Regarding funding, we will continue to diversify instruments to spread out maturities, to reduce costs, and to extend terms. We'll take advantage of market windows to complete financing for the Sabesp acquisition debt and secure funds for CapEx financing, improving the company's debt profile. We'll stay committed to cost discipline and actively manage our revenue cycle improvements in our operations. Our investment acceleration plan is still in place to meet quality indicators and address market growth across our concessions in 2025. We'll also continue the periodic tariff review process for Maranhão, delivering the report for asset-based recognition. Lastly, we will keep evaluating future capital allocation opportunities to generate value. I'll now turn it over to the operator to start our Q&A session. We will now begin our Q&A session. If you wish to ask a question, please click on the Q&A icon at the bottom of your screen and type in your question. To ask your question live, please click on "Raise Hand." Our first question comes from Daniel Travitzky with Safra. Daniel, you can now unmute yourself. Daniel, pode prosseguir. Mr. Travitzky, please proceed. Good afternoon. Thank you for taking my questions. My first question is about the opportunity with the sanitation project in Pará. I just wanted to understand where your mind's at with regards to this possibility. How do you see Sabesp fitting into the dynamics of this auction? I would also like to understand how would your current leverage situation fit into this situation with this new opportunity? My second question would be about your cost performance during this quarter, especially non-recurring events, in this case relating to the regulatory fine and also energy costs relative to distributed generation. So these non-recurring events, how do you expect them to develop moving forward? Should we maybe look at any of these as recurring events moving forward? Thank you. Boa tarde, Daniel. Obrigado pela sua pergunta. Daniel, Pará. Hello, Daniel. Thank you for your question. To your point about Pará, this asset is in the same area of our energy concession. We have been stating to the market that any sanitation asset that comes up in this situation we will be willing to look into the opportunity. This does not mean that we will participate, but we do see synergy. We will always look into it and see whether it makes sense and present the opportunity to the board. I would say that yes, we're looking into it, but no decision has been made so far. As for Sabesp, Sabesp has its own operations. In principle, this operation in São Paulo, which is very intense, is just getting started, but nothing has been set in stone yet. There is no reason why you should be concerned about that because nothing has been determined as to how we will operate that. Thank you. Anything to add? As to the spending question, or the spending part of your question, the impact of the GD liabilities was really one-off. We tend to have a recurring record, and I think the level that we saw in Q4 is the latest, so it really is our starting point. As to the 140 million in regulatory fines, those are divided in essentially three blocks. One that has to do with quality in the state of Rio Grande do Sul. We know that we saw very substantial climate events in Rio Grande do Sul. We do not expect any other event of that magnitude moving forward. In Goiás, which is the other part of the fine with regards to the quality of supply quality, which occurred before we came in, and we've already had substantial improvements in the quality of our supply in Goiás. We are already below regulatory levels, and we've made significant progress in that sense. We're always seeing progress in the curve of. Set, so we believe this will reduce the likelihood of anything like that taking place. A smaller share of the fine comes from Pará. We understand that the investment we've made is focusing precisely on mitigating events such as this. That's essentially what we have. Thank you so much, Daniel. Thanks, everyone. Our next question is by Guilherme Lima with Santander. Guilherme, you can now unmute yourself. Please go ahead. Good afternoon, everyone. Thank you. I also have two questions. My first question is about the BRL 197 million that you've announced. I just wanted to understand whether we could understand if we have a capital raising with a similar private placement. Also, if you could update us on the discussions and any resolution with regards to the other issue that you reported. Thank you for your question, Guilherme. I just wanted to say this for the record. Any decision on this topic, there are a few aspects we need to keep our eye peeled out for: liquidity and risk, most importantly. If you look at these fronts, we've made significant progress. If you look at what Equatorial has done so far, we have concluded the renegotiation of our debt in Goiás. We have made progress and extended maturity with that. Also, we have paid a significant share and extended the debt maturity for our financing to acquire Sabesp. Another aspect I would point out here is we have a robust cash position, about BRL 3.5 billion. It is close to two times our short-term debt, which puts us in a very comfortable position. As was said earlier, our leverage is also very comfortable. We have concluded our CapEx with Solar. We have made significant progress in Goiás and had several pieces of good news. We had the non-technical losses being recognized with GD. In Piauí, we also recognized this issue that had been underway for three years with the tax credits and also the renewal of our concessions in the states of Pará and Piauí. There is a set of good news that we have had that really go back to your point. This shows very clearly how likely or the need for us to move forward based on these good pieces of good news that we have had. Not to mention the asset renewal and recycling efforts that we have had. These are things that put us in a very comfortable position. You also asked about payment. I will turn over to my colleague who will answer that. Hi, Guilherme. We have an industry that is aware of the issue. We have been doing some work with the monitoring committee with the electrical sector. This working group has come to some significant conclusions, the last of which had to do with compensators introducing the mitigators, which could alleviate the system significantly. There is another regulatory front that is conducted by ANEEL, which is the continuation of CP45. This is also a contributing factor. There are also lawsuits that are still pending in the courts. Some of the decisions have been reversed, but these are lawsuits that are still ongoing. We have had progress, and we can still see some advances being made in that sense. Okay, that was great. Thank you. Our next question is by Bruno Amorim with Goldman Sachs. Bruno, please proceed. Good afternoon. Congratulations on your results, and thank you for taking our questions. I would like you to talk a little bit about the regulatory environment when it comes to distribution. You have a few concessions where DEC is slightly above the regulatory limit. I just wanted to understand whether that's a concern for you. How have conversations been with the regulator, and what signs have been sent to you by the regulator? We understand that you have a few concessions that are going through a turnaround, but I just wanted to understand what the latest talks have been like. If you could also talk a little bit about how DEC indicators by subset have been going in your concessions as well. Thank you. Hi, Bruno. Good afternoon. Thank you for your question. You've been keeping track of our results, so you know very well what we've been doing. If you'll remember, two or three years ago, because of our increase, looking at Maranhão, can you see how far we've moved and how much we've been able to reverse the situation? As you've heard earlier, also looking at Goiás, when you look at the Q over Q, a five-hour reduction. Also, the result for Piauí, you see that there's been a three-hour decrease. We have a strong response capacity, and the numbers speak for themselves. This is something that gives us great pride. I just wanted to say, for the record, there's one asset that has been a bit more resistant, and that's Rio Grande do Sul. Just as an example, in 2016, we had 16 events, and everyone around the world saw how aggressive that was. Now, if you look at the asset itself in the last three months, the numbers have gone down, have plummeted, really, because in 2016, we had 16 events, more than one a year. You have clearly what we call a flooding effect. When that happens, my entire construction and maintenance go to solving that issue. Now that these adversities have been more manageable, we've been able to take DEC down. Obviously, we need to work preventatively, and that's in our blood, but I have no fear or no qualms when it comes to that. Piauí and Maranhão are clear examples of our capacity to make this type of thing happen. He also asked about the regulator, right? I think it's important to underscore, as we've said earlier, Goiás is now within the FEC standard in a very short period of time. In those other concessions that are not, I think that Piauí should probably be the first to turn around. Of course, we have, as mentioned, concessions such as in Rio Grande do Sul. If we look at how things have been early in this year, every utility, even those that were not in a good place last year, have made significant progress. I think that we can also say that one picture that is closer to what our covenants required is Rio Grande do Sul. This is something I am personally on top of and have been following and keeping up with on a weekly basis. Now that these adverse events have cooled down, our assets have behaved in a very positive way. I am very excited and very confident that we will be able to turn things around in Rio Grande do Sul as well. With regard to our sets, we have a longer deadline to work with them because recently we've acquired the debts of our utilities, and it takes a slightly longer time for them to reach 40%. For example, Pará and Maranhão, they have to reach 80% by 2026, and they're ahead of schedule. Piauí and Alagoas have to reach that level by 2027. Piauí is ahead of schedule, and this year, Alagoas has sort of taken a step back because we've had two large structuring projects, but we're already seeing the results of these structuring projects that we've been developing there. We expect them to rebounce very soon. We've mentioned Rio Grande do Sul, which experienced an unprecedented tragedy last year. We also have Goiás, which has to reach that in 2028. We've started with them already a year ahead of schedule in 2024. This is sort of the balance when it comes to those sets. Perfeito. Perfect. Thank you. Lembrando que para fazer perguntas, basta clicar em levantar a mão ou enviar através do ícone de Reminder. If you have a question, just click on the Q&A icon at the bottom side of your screen, state your name and the name of your company, and type in your question. A sessão de perguntas e respostas está encerrada. Gostaríamos de passar a palavra aos diretores para que façam as considerações finais. The Q&A session is now closed. We will now turn it back to the executives for the company's closing remarks. Thank you. To conclude, I would like to reaffirm our commitment to continuous value generation for our investors, consistently delivering results across the various segments in which we operate, always guided by disciplined financial management. Lastly, I'd like to announce that we've published our modeling guide on our investor relations website. We hope this will help you to better understand the company's margins, and our IR team will be available for any question that may arise. Once again, thank you for your interest in the company and for participating in our earnings call. Have a great afternoon. This concludes Equatorial Energia's earnings conference. We would like to thank you all for joining us and wishing you a great day.