Good morning everyone. This was another quarter that once again demonstrates the strength of our business model. It's a model that was built on a very simple principle, the quality that drives results. When we invest in the quality of our assets and the customer experience, the results will follow. We have achieved another record for sales for the second quarter. Our shopping malls have generated over BRL 7 billion. At the same time, we've had occupancy rates above 96%. We've had another quarter of negative net delinquency. The revenue from rent of the stores are growing every quarter since the pandemic. The cash generation was record. The margins are amongst the highest in the sector. The net income has increased over 60% in regards to the second quarter of 2025. When we look at the company, we see that it's still generating efficiencies. We had a recovery of expenses that was very significant. We have a record NOI margin on the quarter. We also have accelerated the PIS/COFINS tax credits. We have created consistent value for the shareholders. These are very important. The clients and attendants always choose the highest quality assets in the market. That's no coincidence. The consumers have changed. They seek more convenience, dining, and entertainment experiences. We understand that transformation for a long time. We continue to update our malls to service the expectations of our clients. In March, we have the expansion of Morumbi Shopping mall. Today it grows. It's an expansion that has transformed the mall. It brought our brands to a new way of consuming ourselves. The same store growth has reached 10%, reinforcing the positive impact in the renovation throughout the mall. Also we have the expansion of BH Shopping in this quarter. For the next months, we are increasing the expansion of Barra Shopping and the 10th expansion of ParkShopping Brasília, which is 100% leased and in an advanced stage of construction. With these deliverables, we will have seven expansions that are concluded over the last three years. Over 50,000 sq m of GLA. These are projects that are not only physical growth, they will demonstrate our ability to continuously replenish our mature assets and keep them relevant for those that are customers of our malls and those of future generations. In August, we will launch Lake Baikal, which is another milestone in our real estate development strategy. In fact, this strategy has intensified. We've announced this month the sales of three land plots for development of mixed-use projects, one adjacent to ParkShopping Jacarepaguá. Two others at ParkShopping Campo Grande and ParkShopping Canoas. These developments reinforce our vision of integrated mixed-use neighborhoods connected to our shopping malls. Digital innovation is also one important lever of our business. The Multi has surpassed 10.5 million downloads. It will continue to strengthen our relationship with both consumers and tenants. In the first half of the year, the sales captured through the app has grown 20% in comparison to the same period last year. Over the last 12 months, the app generated over 63 million interactions. Still within the innovation, we are using artificial intelligence to enhance the customer journey across our malls, making it more seamless and more personalized. Artificial intelligence has been an important tool in the optimization of internal processes, proportioning productivity gains, and more operational efficiency. It is so relevant as the results of the quarter is what we are building for the future. We have planned for the next expansion cycle of 2027 with Jundiaí, São Caetano, BH Shopping, and VillageMall. Our land bank includes 130,000 sq m of GLA of detailed expansions. We have therefore 15 future expansions across 11 malls. Throughout five decades, Multiplan has helped to transform entire regions. This transformative capability remains present in every expansion, every renovation, and every real estate development that we undertake. We will continue to see the changes in behavior and preferences of the new generations because consumers evolve and Multiplan evolves with them, and that is why we are positioned to continue to be the leader of the sector for the next 20 years. Thank you very much to all of our employees for their dedication, and the shareholder and analysts and members of the press for their interest. Thank you very much. Thank you. We will start now with a Q&A session for shareholders and analysts. Should you have any questions, please click on the Q&A button and write down your name. Questions will be answered as we receive them. First one, Ygor Altero from XP. We are going to open your microphone. The floor is yours. Good morning. Two questions on our side. I wanted to understand first, what is your overview? How do you see the tax reform? How are the operational challenges of this tax reform, the communication with the players that are less professional? I wanted to know if you see tenants that are ready therefore. The second point that I wanted to talk about is the NOI margin. It is an impressive threshold that you have achieved. Do you see continuity in this high-level threshold? I wanted to understand how can we see the gains of efficiency. You have done a lot, but I wanted to understand if you think that there is a space in the future for growth. Thank you very much. Hi, Ygor. This is Eduardo. Thank you for the two questions. I am going to start by the last. You talked about efficiency and NOI margin. Well, it is the objective of the company to be efficient, but more than being efficient, our objective is to get the company closer to those that are going to the mall. That is key. All of the importance of the efficiency of the company depends on how much the malls are visited, how much the consumers understand that we are working for them. It is a constant looking for efficiency in the company. I think that this quarter is key, even with the movements that we have had. It was very positive for everyone. This is an incessant drive. From here to the end of the year, we are going to have changes. We cannot predict the future. Sometimes we get it right, sometimes we get it wrong. The tax reform, well, even to complement that, it is the same question that happened in the first quarter, and it is a continuous work. You see that in the last 12 quarters, we have a margin over 90%. It is because of the continuous effort of the company. To close this, why do I talk about the mall? The dependency relationship for this company is not the mall that depends on Multiplan. Multiplan depends on the mall. We will only have results and ever better results if we are very good in the end, and this is the incessant drive of the company. I'm going to answer your question on the tax reform in a different way. The biggest focus and the biggest dedication that we have in regards to the tax reform is to be technically ready to service the demands of the tax reform. That has been the greatest dedication, and we've gotten today the tax authority that is delaying the deadline for the issuance of the invoices. The biggest challenge is to be ready for the tax reform. We have to be ready for the deadlines that are established by the tax authority. That's the biggest challenge. The other themes are secondary because of the effort of building all the systems to service the demands of the tax authority. Ygor, you were talking about if we think that the tenants are ready for such a change, which is a tax reform here in Brazil. I can answer you, from my feeling, I think they're not. I think that there's a lot of people that are worried about the economic scenario that we are living today and that we're going to find with the tax reform. The biggest and the most organized, certainly they're going to be ready, but the smaller, not so much. Thank you, Eduardo. Thank you, Armando. Next question, Matheus Meloni from Santander Bank. The floor is yours. Good morning, everyone. Thank you for the opportunity. I have two questions. First, even going back to the theme, the NOI margin. We had a reversal in the quarter, I wanted to understand what can we think as recurring from here on to the future, and if there is any change in the provisioning and aging, is there any change on that front? The second question in regards to the credit, PIS/COFINS tax credits, what would be the timing for the release of that credit in regards to the impact cash generation and also looking to 2027 with the end of the PIS/COFINS tax? How can you reimburse that? For how long? Can you give us some color on that? Thank you. Matheus, you asked two good questions that we don't have an answer. At least I don't have a direct answer, sorry. First, the provisioning, that's very dynamic. All the systems will change, as you recover, you increase the delinquency. You've seen in the first quarter, we had a big hurt provisioning, that impacted all the models and all the provisioning matrix. In the second quarter, we managed to recover a good quantity that impacted positively all the process of aging for the company for this provisioning. What is the expectation? Eduardo commented, "We're going to work so we can have a high productivity, so when we can help the tenant to sell, and you've seen in the quarter that we have the challenges of the World Cup, high interest rates, and you have positive sales, you see that our work is in the right direction, and you can value your space, so that the tenant will not be delinquent." We have that the distribution of the proceeds of the company that might go faster or quicker. I can even comment. We have a credit, and it can be compensated with the PIS/COFINS that is recurrent. As we have the income, we are going to have the PIS/COFINS, and we're going to use that credit to use it. The timing of the usage will be in accordance to the generation, and also we are going to see it in the future if we have a reimbursement or we will reevaluate all these possibilities. We have had detail on that. It's important to have taken this constituted tax credit within this year. Hi, guys. Can you hear me? I think that it's clear. Thank you very much. Next question is Kiepher Kennedy from Citibank. Please ask your question. Hi, everyone. Thank you. I'm going to take the question, and congratulations on the results. Two on our side. First, the company, as Eduardo has said, we had strong sales and the work that has been done over the last years, regardless of the World Cup, that we would think that it would be causing more of a hindrance, but it was a facilitator for sports clothing, for example, sales. I wanted to get your feedback, more granular of segments that were better, were worse, and if somehow the last game of Brazil for the shopping mall, did it have an effect for the month of July? Can you comment something on that? Secondly, in regards to the parking lot revenue, I think that is the strongest. One of the biggest ones for the rent, and it's a merit for the work that. Well, there is a flow effect, the effect of BarraShopping, but on average, the effect of price is the one that had the pulling up the growth of 70% year-over-year. I wanted to understand the current levels. There is a big demand. The demand is on the side of the malls. Up until what point do you think that we can continue with that price effect that is so relevant? Next year, we have the tax reform, and we will have a new increase for the price for the consumer. Can we have that effect of price so high on the inflation for so long? Thank you. Thank you, Kiepher. I'm going to answer with the World Cup. It's not just the World Cup. Any event that is strong in the television is bad for the shopping malls. That's it. It's bad for commerce. Olympics, World Cup, sometimes even the end of the soap opera will hinder the sales of the shopping mall, but it's very pinpoint. It's just that day, and then that's it. Don't be too attached to the day. The day of the game at 4:00 P.M., as it was the last game of Brazil, it was 4-6. Regardless if it's four or six and it's a bad day of sales, and it's below what we expected, but it was above to what we could imagine from a World Cup that is so long and with so many interesting games. This is one point. You asked if we think, and talking about parking lot and revenue. If I think that we can continue to grow. I am certain that we can continue to grow because everything that we do is for the improvement of the experience of the shopping mall. When the MorumbiShopping grew, it's a consolidated shopping mall in the heart of São Paulo. We've done a revamp of an area that is relatively small. The impact for the sales of these stores is very big. That is translated that we can achieve the objective, which is to bring the people that are not going to the MorumbiShopping mall, and captivating the people that are already going to the shopping mall. It's a double work. It's something that started three years ago. We've renewed the shopping mall. We planned an expansion. We've changed the communication of the shopping mall. It's a deep work, and that will continue to happen in other assets. When we made a decision of not building new assets, greenfield, and starting to, because I foreseen, and the company realized that there was a lot to find in-house. If you're going to see the same thing with a higher intensity happening in Brasília. Brasília, the shopping mall is going to have a function, and now this expansion will give you that function, which is connecting with the stores for the biggest parking lot in the shopping mall. For those that are going to the shopping mall, the experience is going to be much better. For you to increase the revenue of-- There was a part that was a reimbursement of the tariff. Okay, certainly. A big part are people that are going to the mall, and they didn't go before. You have more people going than you had before. I'm going to give you a phenomena that is very clear for MorumbiShopping and those that are living close. MorumbiShopping, on the weekend, we have 500,000 cars with a corporate, and we have 2,300 available seats at the weekend. That didn't happen. I can guarantee that since we're not going to stop to invest in improving the assets that we have, I am certain that that will continue to grow. That happened in Curitiba, ParkShopping Barigüi. We see an increase of visitation and transit that is happening in Morumbi, and Diamond Mall, Massaia, and it's the same thing that we're protecting for Brazil. It's important that you understand the strategy of the company. I'd like to imagine we have demands by space, MorumbiShopping, BarraShopping, [inaudible]. If I had today another 10,000 sq m of stores in MorumbiShopping, that would be allocated. Physically, it's difficult to grow, and then you get into the limits of what you can do with the enterprise. Since technology of construction never ceases, it only improves, the cities contribute toward that. The cities, they started to understand that shopping malls do not need the amount of parking lots that they have today. You have all the mobility apps working for the enterprise. The stores are selling more because of deliverables and more people going to the shopping mall with a less use of parking lots. The use of Rio de Janeiro. You have a law that you can build within the next two years, acquiring from the municipality the parking lot of the shopping mall. Did we explore this? We are at the beginning. There is a lot of things to explore. Thank you. Next question, Herman Lee, Bradesco. The floor is yours. Thank you for the space. Just one question. Looking at the breakdown of the same-store sales of clothing apparel is growing more than satellite, so the big stores might be Renner, Centauro. Those are the crown jewels. If you can tell us what are the crown jewels for clothing apparels, and what explains the performance that is stronger? Because we have the perception that the segment was at a challenging time. Having more color would be very good. This one, we had the change of mix. Your question is complex because it has a change of area. There are a series of things that happen in the mix of the shopping mall. When you look at the same store, you're looking at a segment from one year down the line. When you see this, you increase the area of the shopping mall in this moment, which will distort the calculation of these sales. I didn't understand your doubt in regards to the satellite and the crown jewel of clothing apparel. Can you clarify? The same-store sales of the crown jewels are higher than the satellite. Our perception is that the crown jewels were not at a very favorable moment. How do you see the sales of the well-known stores of clothing apparel? Think about what's happening to that number when you want to look at our portfolio. You have a clothing store that closes for refurbishing at the moment. Same-store sales of crown jewel, of clothing apparel drops. What happens in the next quarter? They open much stronger, and there was a structural change. Armando, we're going through this moment. Zara is doing a movement that is very significant with important shopping malls. You have an increase of BarraShopping. There is Latin America, you have new brands in Brasília, and as we're going to get in MorumbiShopping, these are areas that were closed in this quarter. They impact negatively as a whole. I understand your question and your concern, when you go to the physical and you understand what's happening with the dynamic of the shopping mall, there is a change that will happen in the second semester that will impact positively all the stores. What I wanted to disconnect is that macro point of looking at the perception that the retail is not doing so well, and they're looking at our portfolio, which is very specific for our strategy of bringing brands and random movements, as Eduardo has said. These are good news because you have Zara that is doing well in Brazil, that wants to grow in Brazil and wants to bring all the other brands to Brazil. For Multiplan, these are good conversations. Today we are working with the chess. If I get everybody in Barra Shopping, MorumbiShopping, everybody wants the same ones. It's a chess that benefits most people. Thank you. The next question, Elvis Credendio, Itaú BBA, the floor is yours. Eduardo, Armando, team, thank you very much. First, about the expenses and evaluations and other operational expenses. You've had a growth that was reasonable. I wanted to understand if along those lines, something that is not recurring, I wanted to understand the magnitude of those effects. What is relevant, what is not relevant, what can we expect from now on? Second question is the financial results, positive response on our side. When we look in these lines, we have real estate enterprises and other revenues. I wanted to understand what is going along those lines and what can explain that, and what can we expect in the future. Thank you very much. Elvis, thank you for the questions. Expenses. You had two non-recurring effects. One last year in the second quarter of last year, which was a reversal of provisioning that happened. In this quarter, specifically 2026, you had an expense that is pinpoint with the changes that we've done in the company. These are pinpoint issues. I don't see anything that is changing in a continuous way. In regards to the payout of the shares, it was a marking to market that with our program in the second quarter, that you have on the expenses, when you remunerate, you have to pass on the transfers, and you have to do the marketing on the market for the effect of the labor expenses. That's why you have a higher price than the shares that were displayed at the time. There is a lot of things that resulted in this improvement. The first one is good, small. There was a small drop. The second, there is a reduction in the gross debt of the company, that's affecting positively. Third, we had the amortization of debt with higher costs and liability management that is positive for the financial results. There were several factors. We talked about real estate, Golden Lake, I have a few units that are financed not by us. That's why you have that result on the real estate, which is the positive carryover of that finance. The negative is in the expenses. Next question is Tainan Costa, UBS. The floor is yours. Good morning. I wanted to talk about the P&L, and the payout of naming rights. I think that two points here, I wanted to understand how that data talks about with your balance sheet, with the deferred revenues, while they've decreased throughout time, at the same time that the expenses. This is a dynamic for the volume of the expansions, that you delivered, or there is a change in your strategic line. How do you think about this line in the future? Should it be in the threshold? Are we talking about a level of growth, or there is something in the quarter that we didn't realize as we had in the previous lines, or it was even influenced by the expansion of Morumbi? I wanted to get your two cents on that key money. I think that the growth on the key money, it's a negative result. First, we have an area, if you look, the expansion we delivered in the last few months with 20,000 sq m. We have another 20,000 sq m that will be delivered in Barigüi, that mall, two years ago. You have a big change of mix. If you look at the turnover of stores, historical, it's decreasing, but it's much higher. If you get it since the pandemic, we're going to get a big change of mix, and obviously, a few things is incentives to change, and that will be recognized through the lifetime of the contract of the store. The biggest level, the record of this company of the key money was Vila Olímpia. It's interesting. 20% of the CapEx. You can see where Vila Olímpia is done there today, and it's a completely financial decision. Let's capture the most that we can, and we didn't give the correct attention to the mix of the shopping mall. What happened? It has a short lifetime. You have a short level of success. We could have had less results, certainly. I would have preferred to have the second option, but unfortunately, the past is the past. What we can look forward is the future, and now we are going down the right path. Well, the reconciliation of that with the accounting is a cost, and you are appropriating. You will reconcile with the revenue of deferred revenues. What is in the balance, and then you open the contracts. With the expenses that we have, we still have some to recognize, and others that will be open in the short-term. Brasília opening November, Barra Shopping opening now in the second to third quarter. Did we answer your question? Yes. Thank you very much. Next question, Marcelo Motta, JP Morgan. Marcelo, the floor is yours. Thank you for taking my question about the project of the Golden Lake. The first one is if you can comment on the rhythm of sales that is a bit weaker, and about the seasonality about the World Cup that is closer to the deliverables. I wanted to get your vision of what caused that lower speed, and what can we expect on the initiative of increasing the sales. The second one is the launching of Baikal. I wanted to understand how comfortable you have on the price of the project, or what can we expect, and speed of sales in the first few months of the year. Marcelo, Eduardo, thank you very much for the question. Let's talk about the macro to get what you asked specifically. Golden Lake and Barra Shopping Sul, we are developing throughout the city. Golden Lake, specifically, is a project of maturation of 15 years. You have the increase of Baikal, it will go to 29 floors. You will have approximately 1,200 units selling in this year. We are building. It's an evolution of Golden Lake, and it's the best condominium in Brazil. We are there trying to do the best. Till the end of the year, we are going to deliver all the common areas of the condominium that will accelerate the selling of Lake Baikal and the stock of Lake Eyre and Victoria. Now, last week and this one, we structured 10 apartments at Lake Baikal. The speed is good for those that didn't even get you the launch. People are visiting, and the enterprise is well-known in Porto Alegre. We are not going to stop investing in the region. We have plans of getting to the school. It's a condominium that is complete, my expectation couldn't be better. I want to go along the lines of efficiency. We started to sell that condominium BRL 13,000 the square meter. It's practically double. The margins, they tend to grow. The project will be, you'll be able to build a terrain. I only see it positive. There is still the advantage of impacting positively, well, you're talking about 7,000 to 8,000 people when it's completely concluded that will be going to Barra Shopping Sul. They will be heavy users of Barra Shopping Sul. Barra Shopping Sul reopens, and they will open at Barra Shopping Sul in September, along with Sephora. All the region is under development. No conversation is closed. Golden Lake Baikal, we're doing very well. The launch will be on August 15th. I am certain that we're going to be very successful. That is with the high interest rates. You can see the mortgages in the U.S. because it's for six years. Imagine the interest rates at 14%, 15% for so long. It's natural that you don't have the same speed that you would like. As Eduardo said, we are very confident, and the building of a neighborhood is you're building a shopping mall. Armando, I invite everyone that wants to go, and if you want to go to Porto Alegre, the enterprise is going to be wonderful. It's a planned neighborhood, and we have everything there. We have wellness, the first marathon runner under two hours, so it's a neighborhood that looks like a six-star hotel. Yes, very clear. Next question is Gustavo Fabris, BTG. We're going to open your audio so you can ask your question. The floor is yours. Hi, good morning. I have two questions on my side. The first is the occupancy cost is very under control. We will get to a lower threshold when we look at the history of the second quarter, the doubt is how far away can you go in Brazil with the macro? This is now reflected in your results. What do you see as a real effect for growth in this year? The second one is follow-up. In provision, as we've discussed, we've seen a reduction in the index of deallocation. What calls my attention, we have net negative delinquency, and the coverage indices are at a threshold that is similar to what was done before. If you can give us some color, if there is a movement, what would be normal up ahead. Occupancy cost. The occupancy cost is influenced by two factors. First, we have a big input, which is selling. We promote shopping malls. We help the sales to be consolidated strongly. Secondly, is the effect of the indices that will have no control as you're seeing, and the quarter is very low with the growth and the rent, that is very positive. There is a goal for real rent. We're always trying to extract the best result for our shareholders, especially when you have the biggest fundamentals. It's a challenging moment post-pandemic. We were questioned if the delinquency would increase, and it didn't happen because of the quality and the fundamentals that I commented before. Well, the same store since the opening, the real opening, we've had it close to 3%. That gives you an indication, but it's not that we don't have a goal. We think that there is an important upside. We have an occupancy cost in the second quarter that is lower since the IPO, success in the sales, success in the work that Eduardo, answering the first question, connected at the end, the consumer goes to the shopping mall and creating sales that are very good. The second one, the success of recovering, it's a dynamic. It's not static. It will be the same one, if you have a delinquency that is better or worse. We have the systems, and we have a dynamic curve for the provision. With the highlights, how many quarters we have a negative delinquency? Imagine that we are getting to a record that was not so good, and we have a good record. In the first quarter, for example, and now it's improving because of the consistency of the improvement. The negative delinquency, it's something that is helping with the recovery, and eight of the last three years, eight quarters of the last three years had a negative delinquency. Did we answer, Gustavo? Yes. Thank you. Next question, Olavo Fleming from Safra. Olavo, the floor is yours. Good morning, everyone. Thank you for the space. First one is Golden Lake. We've seen Lake Victoria is delivered, but I wanted to understand how is this if we can do without any problems and if there is any. Well, connecting that to the next phases, we have INCC, and INCC in Porto Alegre is 7%, bigger for the capital. If you can give us some color on how you see the scenario of costs for the Golden Lake, the expectation of margins. That's the first one. The second one connected with Barra Shopping Sul, the sales dropping year-over-year with a drop in the portfolio, and you even comment that there is a bigger turnover in the quarter. I wanted to understand the explanation of the year-over-year and how you're seeing the flow in the shopping mall now that Lake Victoria was delivered. Olavo, thank you for the question. Let me answer by Barra Shopping Sul. You have an impact that is very big of a lot of stores being closed because of Zara, Sephora, and you will have more stores closed because there is a big. All of that will generate an impact that is very positive for the shopping mall. You are getting brands that were in the past, they're going back to the shopping mall because they understand that there is a potential for consumption. You have an impact in the drop of sales. Today, you have 3,000, 4,000 sq m of satellite stores that are adding to the areas that only Zara has 3,000 sq m, almost 50,000 sq m. All of that impacts negatively the shopping mall. You have to go through that movement of transformation. That generates that noise that you commented. You have a decrease in sales, but for the future, you have a bigger increase. You're going to bring more sales, more people, an improvement in the experience. I only see positive things in the future, Barra Shopping Sul, even because Golden Lake is up there. You got here, these are very pinpoint issues, that impacts very little with the enterprise because we build. It's the first time that Multiplan has a residential enterprise. Residential, we've built it a long time with Golden Lake, we've done that in Porto Alegre because we understood that with the quality and to keep the margin that we wanted, we wanted to take over the construction. I don't realize that if I had a building company and a margin. Well, since I am the one that is building, I will get the biggest efficiency of the work with the cost of the company. I'm not concerned about that. It's not a concern. Golden Lake is an asset for Porto Alegre. Porto Alegre that is gaining with a spectacular neighborhood. Lake Baikal has had a performance that is higher than what we expected with the pre-launch, and I am certain that we will perform very well with a launch in August. Thank you. Next question, Jorel Guilloty from Goldman Sachs. Jorel, please. Thank you for taking my question. First, you mentioned that the sales in the days that Brazil didn't play in the World Cup, these sales are 10% above the level of 2025. I want you to understand two things. First, could you tell me what would be that number, and do you exclude MorumbiShopping? Second, is how that 10% is translated with the same store. Second question is more of a curiosity. I wanted to understand if you can observe more time of permanence with the shopping malls that went through revamps over the last eight months. Is there any time of quantifying that number? Good morning. Almost good afternoon. Thank you for the question, Jorel. Let me ask for the second one. If we have a time, can we have that information, but we don't give the disclosure of that at the time. We see, yes, people spending more time and using the shopping malls because of the natural vocation of experiences. It's not just a visit to the store. Let me just interrupt you. One thing that we didn't commented, but the best way of measuring is you have those that go to the shopping mall, and the experience of Multi makes you stay more because I have a benefit. I have the exchange at a D place, and none of that existed before. Physically, we don't see it, but there is a lot of differences. We're talking about an application that has 63 million interactions over the last year. The question that is always asked in regards to Multi is when are we going to monetize Multi? It's being monetized every day. Because people go there and they use it, and they represent over 30% of the sales of the company. The best way of you understanding the consumer is through the app. There is an important thing, Jorel. We created a relationship that didn't exist with a tenant of them getting the information of the stores at Multi. You have 1,500 tenants that are getting freely their information where the people-- What is the neighborhood that people come, and what is the store that they go, that there is a series of informations that transforms that experience into something more enriching and better for everyone. Thank you. Going back, there is a question about parking lot. This is one of the factors that influence the growth of the revenue, the time of permanence and more visitation. That's the first question. Given the effect of the World Cup What is the number if we would exclude the expansion of MorumbiShopping? We don't do that analysis. For us, it's transparent. We don't have to do it. Looking at the same-store sales of Morumbi, the calculation excludes the expansion of 9.4%. You'll see that it was very strong. It would be very strong regardless of the expansion. You had another question about the World Cup. Jorel, can you repeat? I wanted to understand. You said that the sales were at 75%, and the days that Brazil didn't play. I wanted to see that implement year-over-year, that 10%, it's a full number of sales. What is the equivalent to same-store sales, and also that increment of 10%? Do we remove MorumbiShopping from that 10%, and how much it would be remaining? We don't have that analysis. We see the performance. We see that enterprise in an isolated way. World Cup is an event that influences the visitation, and we have the transparency, and you have associated with the World Cup, the impact and the wholesale. We bring more-- What you lose at a day of the game, you compensate in the next day. The expansion is a success, as we will have with others, improving our portfolio. It's more attractive for the consumer and for the tenant. Thank you. Thank you for all the questions and the interest. We will close the Q&A session, and we will invite the participants to get in contact with the investor relations department. Now, I'd like to give the floor to Eduardo Peres for the consideration. Thank you, everyone, that took part in the call. I wanted to thank the board of directors, the VP, and they transform our ideas and reality. I've shared with this at the public meeting, whenever I can, I repeat it. All the investors, they help the company to be better than what it would be. The idea in your questions, they help us to transform our company in a better company. I wanted to thank everyone, I am very optimistic for the rest of the year. Thank you very much. The earnings call of the results of the second quarter of 2026 of Multiplan is closed. Have a nice day.