Good morning everyone and thank you for waiting. Welcome to our Earnings Call of Q3 of 2025 of ISA Energia Brasil. I highlight that those that need simultaneous translation, we have this tool available on the platform. To access, all you need to do is to click on the button interpretation through the globe icon in the bottom of the screen and choose your preferred language, Portuguese or English. For those that are listening to the earnings call in English, you can mute the audio in Portuguese by clicking on mute original audio. We inform that this earnings call is being recorded and it's going to be available on the IR site website of the company where you will find available the complete material. You can download the presentation also on the chat icon, including in English. During the presentation of the company, all the participants will have their mics enabled and next we're going to start the Q&A session and after the presentation we will have a Q&A session and the questions must be sent on the chat. Please identify yourself before sending your question that is going to be read by us out loud. Okay? The declarations contained in this presentation representing the projections of ISA Energia Brasil are forecasts and were based on the expectations of the administration with regard to the future of the company. These expectations are highly dependent on market issues, on the economic development of the country, of the sector and of international markets and are subject to changes. Final considerations are not a guarantee of performance. They involve risks, uncertainties and premises because they refer to future events and circumstances that may or may not occur. Investors need to understand that market conditions and other operational factors may impact the future of ISA Energia Brasil and conduct results that differ materially from the forecast that was made today. We count on the presence of the executives of the company. Rui Chammas, CEO of ISA Energia Brasil, together with Silvia Wada, Investor Relations Director. Now I'm going to give the floor to Rui Chammas. Good morning and thank you for participating in the ISA Energia Brasil third quarter 2025 results conference. I'm Rui Chammas, I'm the CEO of the company and I'm joined today by our executive directors to present the results that we published yesterday and provide an update on the main topics of ISA Energia Brasil. Please let's move on to slide three. The third quarter of 2025 was marked by significant aligned with sustainable value generation strategy. I begin the presentation by talking about the readjustment of the annual permitted revenue or RAP for the 2025-2026 cycle. In July, the Aneel Board approved the annual readjustment, which resulted in a 1.3% growth in our potential RAP, highlighting advances of $153 million in RAP of the Paulista concession and $137 million for the tender contracts, which were sufficient to offset the reduction in the financial component of the RAPSE. In August, we obtained the installation license of Barra do Esco. Gencina are the transmission line and Cogentina substation of Serra Dourada. With that, we have already started the works of this park, which represents 60% of the project, which has a total RAP of $322 million. Serra Dourada is the project of one of the auctions held in June 2023 and consists of the implementation of approximately 1,100 kilometers of transmission line and three new substations, in addition to the expansion of three others already in operation, with the purpose of being the priority corridor of the flow of renewable energy generated in western Bahia. I also highlight the increase of our investments, which continue accelerated, totaling this quarter in $1.2 billion, with growth investment directed in reinforcements and improvements as well as greenfield projects that were won in transmission auctions. Our net revenue and EBITDA decreased 9% and 7% respectively, due to the stronger comparative base of the third quarter of 2024, when the effect of the RTP of the Paulista concession were accounted for. Net income for the quarter grew 27%, mainly due to a lower depreciation of the declaration of interest on equity, which impacts the company income tax. Following our shareholder remuneration pillar, at the end of September we announced the distribution of $445 million in the form of interest on equity, corresponding to 75% of the regulatory net income of the first quarter of the year. This amount resulted in $0.67 per share of both types of shares that the company has now. Let's see next slide to go deep into these next topics. As I mentioned, on the first slide now published the Homologation 3481, which established our RAPs for the tariff cycle that goes from July 2025 to June 2026. The graph on the left shows the factors that boosted our potential RAP to $6.4 billion, growing 1.3% and exceeding the reduction in the financial component of the RBSE carried out after the decision by an Aneel Board. The main positive effects were updating of contracts for inflation during the period and the start of operations of new reinforcement and improvement projects also during the period. As a result, today 56% of our RAP comes from São Paulo Concession 28, from tender concessions that have already started operating, and 16% from projects that are under construction and will start operating in the coming years. Here we bring a little bit more information about the coming year that increases the growth of the company. As you know, our portfolio includes five projects under construction that, when energized, will enable the receipt of more than $1 billion in revenue. I emphasize that their execution is proceeding as planned and we should energize in whole or part the Riacho Grande, Agua Vermelha, Jacarandá, and Piraquê projects, which are in a more advanced stage of construction. Investments in this project grew 56%, approximately $768 million in Q3 2025, and was driven by the progress of the construction of Piraquê and Serra Dourada projects, which received approximately 66% and 16% of the total amount respectively. We follow the growing investment trend observed in recent years, estimated at $438 million in reinforcement and improvement, 15% more than the same period of the previous year and a record amount invested in a single project in the same period. New projects totaling approximately $38 million in investments were authorized. They added up to the investment portfolio of $5.7 billion, considering values from September 2025. I also remind you that these projects are entitled to receive RAP, the revenue from assets allowed, and they increase the security and reliability of our network, minimizing risks of equipment failures, reducing maintenance costs, and updating the asset base, which is fundamental to guarantee the quality service for society. In word, we have renewed contracts as is the case of Paulista Concession and that revenue from a large-scale project is received from their respective energizations. It's going to be based on the tariff revision next. The next RTP for Paulista Concession will take place in 2028 and it will reassess projects energized between February 2023 and 2027. Now I give the floor to our CFO Silvia Wada, who will explain the financial results of the quarter in detail. Silvia, please. Thank you, Rui. The company net revenue totaled R$1,072,000,000 in Q3 2025, a 9% decrease mainly due to comparison base which reflected the effect of the RTP of the Paulista concession, which generated R$86 million in adjustment installments. It's worth highlighting that the increase in operating revenue due to the readjustment by IPCA of the 2025 and 2026 tariff cycle was 5.32%. The large scale reinforcement projects energized in the last 12 months and the last energization of the Minuano project in Q4 2024 and Agua Vermelha in Q4 2025 was more than enough to offset the reduction of our RAP in the quarter. After the decision of the board which defined the values of the remaining flow of component as a result of the company's consolidated EBITDA, we had a reduction of 2.5% in the quarter mainly due to the postponing of the collective agreement for the Q4 2024 and the reduction of R$9 million in revenues with a pension plan. With that, our efficiency indicator measured by PSO and RSBT evolved 31% in the quarter. In addition to PMSO, the reduction of the net revenue was also compensated by the assets of Substation Center that belonged to the company and went to auction in 2022, generating an additional revenue of R$36 million. With that, the consolidated EBITDA of the company was R$3 billion with a margin of 82.9% Sorry, so in comparison with Q3 of 2024, the net revenue of the company was benefited by three effects: the end of the depreciation of NFSE that was stopped between 2013 and 2017 representing R$50 million per quarter, by the effect of our RTP of Paulista concession in Q3 2024 when homologating the energized between 2022 and 2023 generated R$87 million in retroactive depreciation of these projects, and by the smaller aliquot of income tax and the reinvestment of JCP intercalate that we announced on September 26. These factors compensated and offset the main company indebtedness and although there was the acceleration of inflation, with that net profit was R$550 million with the growth of 27% compared to Q3 of last year. We closed Q3 2025 with a gross debt of R$400.8 billion and a net debt of R$12.9 billion. The increase is due to funds raised throughout 2025 with debentures and issuances and the fourth disbursement of BNDS, partially offset by the settlement movement of the seventh debenture issuance in April 2025 in the amount of R$928.4 million as of September. As of September 30, 58% of the debt was indexed by IPCA and 37% by CDI, resulting in an average real cost of 7.6%. It's worth mentioning that the amortization profile had 75% of maturities. The net debt/EBITDA ratio ended the period at 3.44 times. Currently, only the fund, the financing with BNDS total is R$695 million with a ratio of 3 times in the relationship of debt/EBITDA. The covenant measures are annual, based on financial information as of December 31, and we are in an advanced stage of negotiations with the bank to obtain waiver. The observed increase in the leverage was already expected. That is in line with our long-term planning, reflecting the pace of our investments, associated with the close management of the cost and physical progress of projects in order to guarantee the delivery of the planned results and seek to exceed them with good risk of opportunity. This is what we call responsible and profitable growth with financial discipline to coexist with the practice of distributing at least 75% of regulatory net profit. As a subsequent event, in October we concluded the 20th debenture issuance and raised R$2 billion in the two series, terms of 12 and 15 years, and costs of IPCA of 6.66%. These rates represented negative spreads of 0.88% and 0.90% in relation to the government bonds maturing in 2040. Next slide, please. As I just mentioned, we reaffirm our practice of distributing at least 75% of the regulatory net income in the form of dividends. At the end of September, we announced the distribution of interest on equity related to the results of the first half of 2025 of R$445 million, which corresponds to approximately R$0.67 per share, with payments to be made in three installments. Each payment has its own record days and payment dates, so it's important to pay attention to the dividend calendar to plan accordingly. I would like to highlight that today is the base date for the first payment. This means that if you finish today with shares of ISA Energia Brasil, you'll have the right to receive their dividends on November 28. With that, I conclude my presentation and give the floor to Rui. Thank you, Silvia. Let's go to the next slide. Although the greenhouse gas emissions of a company like ours is very small, as a manager of the company we try to diminish the emissions in this sector. We have established in our sector a goal to be net zero, which aims for 90% reduction in our emissions by 2050. To achieve this, we have homework to complete and thus optimize our scope 1 and scope 2 emissions. In addition, we have an obligation to influence our supply chain so that they will have the best possible practices and together will bring an exceptional result for society. As the rule defined for net zero companies, the remaining 10% must be offset by the acquisition of high quality carbon credits, audit and certified by internationally recognized standards with traceability guaranteed by public records and continuous monitoring systems. Our flagship sustainability program, Jaguar Connection, is a powerful tool that already helps generate carbon credits as a way to protect the jaguar's natural habitat. We are committed to the sustainability agenda which is fundamental for our success as a company, as a society and for the environment. I am also very pleased to present good results with significant progress in the indicators of the main sources of CO2 emissions. We presented both quarterly and cumulative reductions in all indicators, with particular emphasis on reductions of more than 60% in SF6 gases losses, a gas that has a major impact on the generation of greenhouse gases. Finally, to conclude the presentation, please move to the next slide. We summarized in Slide 13 the characteristics and capabilities of ISA Energia Brasil, which was corroborated by the topics covered during the presentation and which aim to maximize the generation of sustainable value for our shareholders and other stakeholders. This is done with a resilient business and forecast revenues that generate a very relevant growth that is generated with the electrification of the economy and society and that generates demands for new grids. Competitive advantages are proven by our track record and by the way that the company operates their assets within the long range, which is social impact in an environmental. Positive impact are conducted with high technical capacity. All that based with a very strict financial discipline because everything in the company is done respecting three pillars. First, the growth is based on profitable projects. The company searches and preserves and works to maximize each one of its investments. Second, very disciplined follow up of the development of the company. The company is currently at AAA in the market, in the Brazilian market with a very competitive approach, and this needs to be preserved. This discipline cannot be supported. Finally, the issuance of debentures mentioned by Silvia today that has materialized with the payment of interest on our own capital and that achieved 75% of the regulatory deliveries together with our shareholders. With all that presented during the presentation, I want to comment on a question that will probably show up, which is the decision of the company to be top and not participating in the auction that will happen tomorrow at B3 for the new transmission lines. This, of course, does not impact our growth focus or decision portfolio. It's just that the company is going to focus on the opportunities that will appear in the future, maybe in auctions of capacity reserves and so forth. Thank you very much for following our earnings calls, and now we're going to open for a Q and A session. We're going to start our Q and A session. We would like to ask you to identify yourselves and ask all questions at once, waiting for the answer of the company, reminding you that to ask questions just click on the Q and A icon on the screen and send your question. Our first question is from Angelo, physical investor. Good morning. My name is Angelo, I'm a physical investor. Congratulations on the results. My question is if it makes sense for the company to participate in the auction that is going to take place tomorrow. Thank you for your question. As I have just mentioned at the end of my presentation, we have decided not to participate in the transmission auction that is going to take place tomorrow at B3, considering what we already have in our portfolio, our financial discipline, and our commitment to a long-term vision. We are not going to participate tomorrow. That does not mean that we're not going to participate in future auctions that may have in terms of capacity reserves. Our next question is from Daniel Travitzky, sell side analyst from J. Safra Corretora de Valores e Câmbio Ltda. Hello. I have two questions. The first is I would like the company to talk about the auction of the batteries described in M3304, and the second, in results the company recognized the recurring revenues not included in the same to substation. Can you comment on that? Hello. First of all, I would like to say that ISA Energia Brasil agrees with the approach of BP that positions the electric matrix, and we are following and contributing actively in these associations. We are reviewing our positioning, and we are also waiting for the discussion to analyze opportunities that may appear. I think it's a little early to have a conclusion about that. With regard to substation to substation from 2022 that was in the auction of 2022, the result is that in 2022, including 2022, we had an important investment in the St. Louis substation, and that was spending how it's going to be rewarded for the company. It took a little more than two years, and we concluded some adjustments, and it was included, incorporated in our revenues, the remuneration of these investments, and added an adjustment, a readjustment share to complete the revenues of 2022, 2023, and 2024. With that discussion, we conclude the definition of the revenue that is going to be maintained until 2042, until the end of the concession contract. Thank you. Our next question is from Gabriel Dulcas. This tax efficiency together with the payments of interest on equity is going to be repeated in the end of the semester, or it's punctual, the company is going to continue announcing profits in December. Yeah, hello, Gabriel here. Silvia Wada. Thank you for your question. The idea is to have more declaration events. We are working to have a higher frequency of events, but we don't have a periodicity re-established. With regard to this year, we will have a declaration of interest on equity related to the second semester because the one that we announced in September was related to the first semester. Our next question is from Bruno Vidal, sell-side analyst at Cheesebury Investment. Taking into consideration the higher level of profit reserves that will be observed in the company after the implementation of PL 28725, does the company study to pay some dividends, extraordinary dividends before the end of the year? We are following the discussions about possible changes in the tax legislation, and with regard to this possible dividend taxation, at first it wouldn't change our plans because the company does not have a perspective to distribute profits through dividends because we have a basis of distributions based on interest on our own capital. That is enough to cover our practice of spending 75% of the regulatory net profit in the coming years. It wouldn't be interesting to have distribution through dividends. Reminding you that to ask questions that we want, we ask you to send through Q and A and identify yourself when you send the questions that are going to be read out loud by the operator. Our next question is from. Good morning and congratulations on the Q3 earnings results. The company informs that they will have related information about CEFAS in November after there are mediations individually with the party. What are the expectations of the company for the meeting of November 4? Will the definition be made on this day, in this meeting? I prefer our universe where we had a deeper conversation about this topic and the materials available for your consultation. Talking a little bit about individual sessions, the individual sessions are still taking place and this absence of this one of the November 4 is going to be on the 10th of November. It's going to be a joint meeting and we expect to evolve these discussions. I don't think it's going to be a conclusion for this topic yet. Our next question is. Considering that the relevant part of the investments and reinforcement improvements will only be recognized on TP of 2028, how does the company expect to balance the cap and the regulatory income till then? Thank you for your question. Just for us to be on the same page with regard to reinforcements and improvements, for around 40% goes into the income and the implementation of the process. The large scale processes, the 60% about are a small size. We're going to have this recognition in the rate as of the LTP in 2028. Part is going to come in along the cycle, although most part is going to start coming in 2028. In addition, we have the pipeline of projects that all together the five projects that are under construction are of a RAP of BRL 1 billion and as they start operating, we are already going to start receiving the RAP and it's going to be a relevant amount, around BRL 455 million in RAPs that is going to be collected until the middle of 2026. This part also helps rebalance and the leverage in this trajectory that we have until 2026. All this unpairing is something that we already know and has already been planned when we conduct the auctions and when we do the financial planning for the company. The next question is from Winso Calado Barboza. Good morning. What are the main investments in innovations and infrastructure as digitalization and new control technologies that ISA Energia Brasil is prioritizing in the next cycles of tariff readjustments to compensate the renewable sources like wind and photovoltaic in transmissions? Thank you for your question. It's extremely updated. The growth of wind and solar energies is something that has been appearing and you start having several opportunities to solve issues and the power issues in the basic grid. The company historically has been working in innovation. We are the first company to make investments in digital substations like Loreira and São Paulo, which is the border of São Paulo and Paraná. In the coming days we are going to open the first triple SC system. Triple SC system in the line between Ribeirão Preto and Porto Ferreira. We are going to measure this as an alternative for the company to have a proposal proposition proposed a role for the several thematic that you have just mentioned. The company is attentive and we understand that energy production opens an opportunity and a responsibility for the company. We will work to take advantage of that as much as possible to ask questions. We'd like to remind you that you can send it through the Q&A. By default we ask you to identify before you ask questions that will be read by the operator out loud. Our next question is from Kelvin Braga. Good morning. I have observed that on the personal part that there was the passing of collaborator. I would like to first of all thank you for the careful reading of our release and all its content. The life of security that everybody that work is a value for the company by 2040. We say that life that gives energy to the British. Life is part of our mission. Unfortunately we had this terrible event. We are providing all the support to the family by this subcontracted company to develop the line. We have been working to make our environment as safe as possible in all the projects that are under our responsibility. You can be sure that the security of each and everyone is a value taken as a premise for ISA Energia Brasil. Thank you for your question. Q&A session is now we're going to give the floor to Rui Chammas for him to make his final considerations. First I would like to thank everybody for your interest in our earning calls. We have several questions here pending. Part of them have already been answered and part of them will be responded by our team of Investor Relations as soon as possible. I apologize to those that did not see their questions responded, but we understand that they're going to be answered more efficiently after the call. I would like to thank you for your interest. I'd like to say that we are still committed in creating value within the long range. We are committed to providing the strategy that was presented to you. I'm pretty sure that we will continue with our team of Investor Relations bringing you as much information as possible with as much agility as possible so that you can make your best decisions. Thank you once again for your interest. I wish you all a very good rest of the day. Thank you very much. The earnings call of Q3 of 2025 of ISA Energia Brasil is closed. I would like to remind you that the Investor Relations department is available to respond to further questions. Thank you, all participants.