Third quarter 2025. Joining us today are Mr. Sérgio Kariya, CEO, and Ms. Renata Vaz, CFO and Investor Relations Officer. We would like to inform you that this presentation is being recorded and simultaneously translated. To access the translation, please click on the interpretation button. For those listening to the conference in English, you may mute the original Portuguese audio by selecting "Mute original audio." During the company presentation, all participants will have their microphones disabled. We will then begin the Q&A session. To pose a question, click on the Q&A icon, type your name and company. Once your name is announced, a request to enable your microphone will appear on the screen. Please accept it. Bear in mind that any statements made during this conference concerning the company's business outlook, projections, and operational or financial targets constitute forward-looking statements based on the current expectations of Mills management. Investors should understand that political, macroeconomic, and other operational factors may affect the company's future performance and lead to results that differ materially from those expressed in such forward-looking statements. To begin the Mills presentation for the third quarter 2024, I'll hand over the floor to Mr. Sérgio Kariya. Good afternoon, everyone. It's a pleasure to be here once again to discuss the results for the third quarter 2025. The results we present today reflect the effects of the strategic decisions we have made over the past few quarters. In the third quarter 2025, Mills resumed growth with greater predictability. 55% of rental revenue now comes from longer-term contracts, pointing towards its perpetuity. Our strategy on diversification and disciplined capital allocation continues to work. The heavy and intralogistic segments gained relevance, while the light segment faces a more competitive environment. In forward work, ensuring we captured infrastructure demand, delivering strong growth and high margins, including some one-off indemnification effects. Starting in slide three, we present the main highlights of the quarter. Net revenue reached BRL 483 million and BRL 1.3 billion year-to-date, a growth of 15% and 18% respectively, compared to the same periods in 2024. We completed the acquisition of Next Rental in August, incorporating 738 assets and an experienced team, expanding our presence and strengthening our base of contracts in resilient sectors. Adjusted EBITDA reached BRL 255 million, a 53% margin and 28% growth over the third quarter 2024. In addition to the positive operating performance, the margin was positively affected by non-recurring effects because of the consolidation of Next results. Cash net income totaled BRL 118 million, with a 24% margin in the quarter. Year-to-date, we reached BRL 363 million, with a 27% margin. We're reinforcing our commitment to creating value for shareholders and announced a distribution of BRL 42.5 million of interest on equity that will be paid at the end of November, representing a payout of 63% of the quarter's profit. Regarding cash generation and capital structure, adjusted operating cash flow was BRL 224 million in the quarter and BRL 490 million year-to-date, with 99% conversion above the historical average. The net debt adjusted EBITDA ratio closed the quarter at 1.5x, reflecting the cash payment for the acquisition of Next and the completion of the 11th debenture issuance in August. Additionally, we continue to execute our strategy of capital structure optimization, with the average cost of debt once again showing improvement, 1.28% in the average term, extended to 3.6 years on slide five. For the seventh consecutive quarter, we increased the share of long-term contracts in the company's results. They now represent 55% of rental revenue originating from contracts with terms longer than 12 months. In the quarter, the heavy equipment and intralogistic units continued to gain relevance in Mills' consolidated results, now accounting for 35.5% of consolidated revenue, reinforcing the diversification and solidity of our portfolio. We have been working in a structured and strategic manner so that more recurring revenue from clients becomes increasingly relevant. Our multi-product solutions approach has proved to be successful, with concrete processes, especially in strengthening the products with larger addressable markets that are directly aligned with clients' core operations. They reinforce our positioning as a strategic partner to our clients while making our revenue generation more predictable and resilient over time, essential factors in a macroeconomic environment that remains complex and unpredictable. Finally, we closed the quarter with a fleet of more than 16,000 pieces of equipment and 48,000 tons of foreign work, ensuring consolidating Mills as one of the leaders in equipment, rental, and engineering solutions in Brazil. With that, I'll hand it over to Renata, our CFO and IRO, who will detail the main financial highlights. Thank you, Kariya, and good afternoon. Let's go to slide six. Net revenue in the third quarter 2025 totaled BRL 483 million, an increase of 15% compared to the same quarter last year, mainly driven by the expansion of rental revenue. This performance reflects the evolution of our solutions portfolio, greater market penetration across different segments, and our continuous pursuit of efficiency and customer proximity. Cost totaled BRL 135 million, a 10% increase vis-à-vis the third quarter 2024, influenced by higher rental activity and increased consumption of parts. Operating expenses amounted to BRL 117 million, showing an improvement as a percentage of net revenue, reflecting the company's ongoing efforts to maintain operational efficiency and discipline. In the next slide, number seven, the adjusted EBITDA was BRL 155 million, with a growth of 28% and a margin of 53%. The improvement in EBITDA reflects the contribution from Next results during the period and the combination of revenue growth and discipline, cost and expense control. In addition, productivity gains from continuous improvement initiatives and operating leverage in SG&A contributed to increase the profitability. In the graph to the right, net income totaled $67 million in three Q 2025, with a net margin of 14%, impacted mainly by the higher growth debt balance between the periods, increase in the average CDI rate. Year-to-date, profit reached BRL 223 million, a 6.2% growth compared to the same period in 2024. Excluding the non-recurring effect related to one-off tax credit adjustments, net income in the third quarter 2025 would have been BRL 85 million, representing a 20% growth over the same quarter last year. We go to slide eight. Operating cash flow totaled BRL 225 million, a 9.9% increase over the third quarter 2024. Conversion closed to 100% of EBITDA into cash, above the company's average and with strong expansion compared to the previous quarter. The result mainly reflects efficiency in managing purchase receipts and payment schedules for equipment. Investments totaled BRL 261 million, primarily related to the acquisition of Next Rental. We emphasize that we remain disciplined in capital allocation, continuously evaluating organic and inorganic growth opportunities that strengthen our strategy of expanding presence in the high-potential markets. While pursuing contracts with adequate profitability, consolidating Mills as a multi-product company and a full solution provider. In the next slide, we close the third quarter 2025 with a gross debt of BRL 2.2 billion as a result of the 11th debenture issuance carried out to an amount of BRL 500 million in a single series, with a five-year amortization and a cost of CDI of 0.90%. We also had a robust cash position for BRL 913 million. The average debt maturity closed at 3.6 years, and we reduced the average cost to CDI plus 1.28% per year, with a trend of continued reduction, reflecting our capital structure optimization strategy to access competitive funding conditions in capital markets. Leverage remained at a comfortable level for the third consecutive quarter, closing the third quarter 2025 at 1.5 times, well below the COVID and set forth in our financial agreements. Turning to slide 11, we delivered another quarter of positive results in the rental business unit, which posted net revenue of BRL 395 million, the highest quarterly revenue in the unit's history, representing 9% growth compared to the third quarter 2024, again driven by the heavy and intralogistic segments, offsetting a more competitive environment and price pressure in light equipment. Adjusted EBITDA reached BRL 191 million in the third quarter 2025, 13% growth compared to the same quarter in 2024, with an EBITDA margin of 48%, reinforcing the unit's operational strength, the result of continuous improvement initiatives, and the company's focus on sustainable value creation despite the more challenging scenario in light equipment. On slide 12, when we look at foreign work and scoring, we had another quarter with positive results, thanks to the advance of projects and infrastructure throughout the country. This consistent growth is the result of a price increase and higher rented volume. Net revenue totaled BRL 88 million, a 50% growth compared to the third quarter 2024, reaching the unit's highest revenue since 2015. Adjusted EBITDA totaled BRL 64 million in the quarter, up 107% year-on-year, and an EBITDA margin of 73%. The margin expansion was driven not only by higher rental revenue, but also by the one-off receipt of indemnifications from clients following commercial settlements, which improved other income and reduced the unit's PCE during the period. With this, we conclude the presentation of our third quarter results. We appreciate everyone's attention and time, and we will now go on to the question and answer session. Thank you. Should you wish to pose a question, please click on the Q&A icon. There will be a prompt for you to activate your microphone to pose your questions. The first question comes from Sant'Anna from Bradesco BBI. Good day, Sergio and Renata. Thank you for taking my question. I have two, in fact. How is the price pressure and inventory scenario, all of this focused on platforms, and which is the impact of that on your margins with the acquisition of Next that came in this quarter? Could you give us your expectation of when you expect to see the synergies operationally and commercially so that we can better guide our model? These are our two questions. Thank you. Good afternoon, Matheus. Thank you for the question. Let me begin with the platform, the light equipment. The competitive scenario continues to be very similar, perhaps somewhat worse between the second and third quarters, and this will doubtlessly continue on to the fourth quarter. There is a surplus of supply, scarcity of demand, which has slightly impacted the prices and the volumes. As you were able to see, we have been able to offset this through operational improvements and increase in productivity, better discipline in prices, maintaining our margins constant. We do not think this scenario will change considerably going forward. Now, regarding Next, we have already captured both operational and commercial synergies. Our great challenge in terms of operational synergies comes in the opposite direction. In the heavy equipment unit, we were growing at a fast pace, and Next has a very high capacity for delivery with those 270 people we took in. They're going to supply the demands that we had with experience and highly trained people with very good technical knowledge. Not in terms of synergy for cost reduction, but synergies to ever more improve our capacity to deliver our equipment and the quality of service we have for our customers. The commercial synergies had already taken place. We were expanding contracts with the present-day customers of Next. Thank you. That was very clear. The next question comes from Ms. Mussi from Safra. Good morning. Can you hear me? First of all, I would like to carry out a follow-up on the lifespan of the asset, how that has evolved, and when we think about shoring and foreign work, how much are you thinking of investing in this segment going forward? Luiza, thank you for the question. Good afternoon. Regarding the lifespan of our assets, the concentration is in intralogistic and light equipment. We have been able to extend the lifespan. We have part of our assets at an advanced stage and with very concrete possibilities of reaching that third lifespan of the assets. We're going on to other phases and increasing our capacity when it comes to the size of assets, the electrical scissors. I think we can expand the lifespan. We're at the beginning of implementation for 100% of these assets, and we're also increasing the size of assets, looking for technological alternatives to do this. When it comes to foreign work and shoring, we have already made investments this year. We have a new order for the acquisition of assets for shoring. They should be concluded and delivered at the beginning of next year. We have contracted CapEx of the same amount for the year 2026, with a pipeline of negotiations for infrastructure that is quite significant. We already have a backlog for the coming months, which of course justifies the CapEx and investments we are making. If you allow me another follow-up, we spoke way back about improvements you could achieve in SG&A. For the level we see presently, could we still have any further enhancements? Good afternoon, Luiza. That is something we began last year, and we do have some opportunities that we can capture. We have carried out some surveys to have a more competitive SG&A level, ensuring our processes will be ever more competitive so that we can improve our performance as a whole and bring in more profitable margins for the company. Thank you. Thank you very much. The next question is from Filipe Nielsen from Citi. Hello, everybody. Good afternoon. Thank you for taking my question. My question refers to CapEx. You spoke about investments in foreign work and shoring, but I'm thinking of the other segments. You spoke about an expansion in construction, and this quarter you have CapEx for M&A. Now, going forward, will this CapEx be more organic? Will it increase in terms of net sales CapEx? The second question, thinking about that expansion in construction as a whole, not only in forms but in machines, if you could explain the profile of that contract, is it a long-term contract mainly, or is there a mix between the short-term and the long-term? When will you start understanding that everything is very concentrated in this segment as you grow in detriment of other segments because of that dynamic of expansion in construction vis-à-vis other segments? Thank you. Filipe, thank you for the question. Regarding our CapEx, and still in the year 2025, the fourth quarter will not see large volumes in terms of investment CapEx for the growth in the fourth quarter. Of course, there will be some, but not in large amounts. The coming year, yes, we will once again make organic investments. We continue to be quite optimistic but selective in terms of capital allocation because of the interest rate at the end of last year and throughout this year. We have become more conservative in terms of the internal rate of return to make incremental investments in the company. This will not change for the year 2026. Now, to continue with your question, short-term versus the long-term, in foreign work and shoring, we have infrastructure work mainly with a relatively long duration in the work. It remains 16 months as an average, of course. Some can be shorter or longer periods. When it comes to the yellow line or heavy equipment, we only enter into long-term contracts. We still do not work with spot contracts. Now, for the yellow line, for the works, or for the sector of construction and infrastructure, unless the duration is longer. Now, for the elevating platform, we can rent it for one day or for long-term contracts. For works, there is a very varied range when it comes to the duration of contracts for construction with these mobile elevating platforms. To complement this, we do have a strategic relationship with the main builders, developers, and the pipeline in that sector is extremely dynamic. We can rent the yellow line and platforms, and this has improved our exposure to constructors. We are moving away a bit from foreign work and shoring. What we assess is the risk of the contractor. The analysis, of course, is a cross-analysis. It's something that we have at Mills, and we do have a certain appetite for risk depending on who is contracting our equipment. This can vary significantly. Thank you. That was very clear. Thank you very much. We would like to remind you that should you wish to pose a question, please click on the raise hand icon. The next question comes from BTG Pactual. Fernanda Recchia. Hello, everybody. Sérgio and Renata. We have two questions at our end. I would like to know your mindset for yield and utilization rate. You said that this year there was somewhat more pressure on the platforms. If you could speak about what you foresee in terms of the scenario for 2026. Secondly, we have seen some attempts to tax dividends. You still have a very comfortable position. I would like to understand your mindset to see what will happen with the payout if we do have that measure implemented on dividends. Thank you for the question. Let's begin with the yields and the rate of utilization. It's very important for light equipment. When we look at our business of generators, heavy compressors, and intralogistic, we basically buy from contracts. It doesn't mean we don't have idle equipment, but we buy through a contract, and we see that heavy equipment is increasing our productivity. In intralogistic, we have a very high usage rate. We're not expecting a drop in yields nor a drop in the utilization rate. Regarding the light equipment, our great challenge here, given the question made by Matheus, we still suffer some pressure of a greater supply and a relatively smaller demand. We're attempting to maintain a very similar productivity, balancing yields with a rate of utilization. The question is how to become more productive in this potentially more competitive scenario. That is why you will observe somewhat lower yields. We have been able to deliver relatively better margins than we were delivering thanks to that productivity enhancement, enhancement in processes, a greater efficiency in the light equipment sector in general. Regarding dividends, I will allow Renata to answer that. Fernanda, we have already paid out the maximum limit of equity on interest, and the company, of course, is always looking at capital allocation. It's a highly relevant topic. We carry out surveys to assess which is the best strategy the company can adopt considering the scenario, the CapEx, the company. This is the answer that we can give you presently. We're always very attentive to all of these topics, always pursuing the best return for the shareholder. Thank you. Thank you very much. The next question comes from Rogério Araújo from Bank of America. Thank you, Sérgio and Renata, for taking the questions. I have two questions. First of all, the growth in the heavy equipment segment. If you could break down what was organic and anything else you can share with us in terms of supply and demand in that segment, a more selective question. The fiscal situation that has been approved this half of the year, if this reclassification refers to Percy recognized in the previous quarter, or does this refer to another tax? Should we expect another reclassification as carried out in this quarter? Let me begin here with the Percy. Yes, in fact, the reclassification that we carried out this quarter refers to what we had already accounted for in the second quarter. This is recurrent for the effects of EBITDA, but we had not made the adjustment. Because of the relevant value, we reclassified this in our P&L. It does not change our profit reserve. We are not expecting a new reclassification. We have done everything that was necessary, and the results will be part of the recurring results for the rest of the year. Now, regarding the heavy equipment, we have been growing organically. Obviously, the greatest impact is the incoming of revenue from Next. We have been continuously improving our productivity throughout the year, always with that focus of balancing new capital with investment, with new CapEx, with the assets that are idle at present in our heavy equipment fleet. We're growing in both directions, organically, as well as through the acquisition of Next. This quarter specifically, we have the coming in of Next with a significant impact on this growth. Thank you. Thank you very much. We would like to remind you that should you wish to pose a question, please click on the raise hand icon. The question and answer session ends here. We would like to give the floor to Mr. Sérgio Kariya for the closing remarks. Thank you very much for your interest and participation in our third quarter 2025 earnings call. Our IR team is at your entire disposal should you have additional doubts. The conference for Mills, and Tier, should you have any doubts, please send your question to the IR team through ri@mills.com.br. We would like to thank all of you for your attendance. Have a good afternoon.