Good morning everyone, and thanks for joining Oi S.A's conference to discuss 2022 first quarter results. The event will take place in English with simultaneous translation to Portuguese. Please be informed that this video conference is being recorded, and it will be available later on the company's IR website. During the company's presentation, all participants will be with their microphones disabled. To get in line in order to ask questions, please click on the Q&A icon at the bottom of your screen and write your name and company. After the presentation, we will begin the Q&A session. Now, I'd like to pass the floor to Mr. Rodrigo Abreu, Oi S.A's CEO. Please, Rodrigo, you can proceed. Hello, everybody. Welcome to our Q1 2022 earnings call. As you can hear, unfortunately today, due to a strong laryngitis, I really apologize, but I'm unable to present our Q1 results. As such, our call will be conducted by our Chief Strategy Officer, Mr. Rogério Takayanagi, and our CFO, Mrs. Cristiane Barreto. Mr. Rogério, the voice is yours, and I'll be joining them later in trying to answer your questions. Thank you very much, everybody. As we start, in the name of the company, we want to apologize for the delay on having this call. As we have mentioned in our last results call, the closing of our two large M&A operations in Q2, due to their size and complexity involving the segregation of assets and results for the so-called discontinued operations, had a significant impact on the auditing works. As such, we had to postpone our first two calls of this year by a few weeks. We expect to return to our regular call schedule with our Q2 call next quarter. In order to give the market visibility previously to this call, we had already released some preliminary results, and today we will go into more details on both our operational and financial results. Moving on to page three, we can start by summarizing where we are in our transformation path. For those who are following our story, you know that we are almost at the end of a very long journey on our recovery program. In the last three years, now in July, we're reaching the three years of our transformation plan, we've been working on several steps towards a more sustainable way. We started from reviewing completely our strategic perimeter of business. We decided to focus on the fiber business with the innovative approach of the fiber reuse. Then we went through the general creditors meeting in order to approve our revised plan and had the approval to sell several of non-core and non-strategic assets. After that, we successfully sold our four UPIs, the tower, data center, mobile, and lately, the control of the V.tal. In addition to having signed the MoU to divest our DTH TV subscriber base. With the closing of V.tal deal in the beginning of this month, we are concluding the most critical step of our transformation plan. This will allow us to focus full attention of the management on the execution of the operational plan and on bringing the new Oi to a new growth phase. Let's go through some of our key results on this quarter that I'm gonna present on this slide. On the core business side, we kept steady growth on all metrics, all operational and business metrics, with some double-digit growth of revenues on the fiber, connected homes, and the ICT revenues for the B2B, the Oi Soluções segment. Specifically this month, we launched the new service based on the FTTR technology. I'm gonna go through it a little bit more down the presentation, which we believe will address the new frontier of the residential and small and medium enterprise businesses, the customer premise. We will explain that in a following slide. On the new revenue streams, we're starting to see the first results of initiatives to differentiate our service. For example, also this month, we launched the new Oi Play service. Oi Play is an OTT service, which also includes some linear channels for those close to the TV market, a vMVPD service. We believe that this service will help us not only to differentiate our fiber offering on the cord-cutting environment but also to accelerate sales of the fiber as well as revenues and ARPU. On the fixed telephony business front, we kept working on pursuing the business sustainability. We managed to disconnect 1,300 unsustainable central offices only this quarter. We also successfully put in place processes to migrate smoothly voice clients that today operate on the traditional copper technology to technologies such as fiber on a voice over IP and wireless with a fixed telephony solution. On the concession discussions, we are working very closely and very collaboratively with the Anatel in order to reduce the complexity of the regulatory framework, also preventing unproductive expenses for the concession and working to allow the concession migration agenda to advance. In parallel, our arbitration process is moving according to plan and will be a key component in reestablishing the sustainability of the business at the end of our process. On the client-centric front, a very key pillar of our strategy for the new Oi and the capacity to move forward and increase revenues. We keep working on improving the CX through the digital transformation. Not only using the analytics and machine learning to know better our clients, but also to improve process. For example, we managed to migrate the majority of interactions of our customers through digital channels, being the billing, the service, also the technical assistance, which is drastically improving customer satisfaction and also allowing, at the same time, to reduce some costs. Finally, all this effort will be not enough if you do not have an efficient company. The team is working very hard on reducing the company complexity and unnecessary costs. When compared to last year, in the first quarter of this year, we managed to reduce more than 7% of our costs in nominal terms. On a pro forma basis, more than offsetting the inflation. With our new operational model of using V.tal as a neutral network, we invested BRL 345 million on the new Oi perimeter, a fraction of our investment required if we were a fully integrated company. This shows the potential of this model to fuel growth while requiring much less operating cash in the future. In terms of organizational structure, we also managed to reduce the size of the company by almost 2,000 people this quarter alone. It's never an easy move, but necessary. This is allowing the company to become much lighter, faster, and more efficient. Now, if you move to the next slide, let's talk about the fiber business. On the current scenario, we are pursuing a smart growth approach, balancing growth and a tight control of the customer acquisition quality and profitability. This quarter, we kept growth on the fiber business with a small deceleration as we adjusted our internal process to ensure accuracy of the homes passed rollout algorithm, as well as a customer acquisition management process. On the revenues, we are looking for a growth with a new and more accurate credit policy, so a more healthier growth, leading a less churn and higher customer lifetime value. On homes connected, we are refining even further the rational selection of the cities where we're gonna deploy our homes passed, areas with high demand and good payment profiles, incentivizing our sales channels to higher quality, not only to focusing on better neighborhoods, but as well focusing on processes and higher score clients. On the uptake front, we kept improving analytics capability in order to be more very accurate in pricing and adjusting the price almost dynamically to allow us to maximize value and keep being competitive. We know that the overall rate growth slowed a little bit in the first quarter. All of those changes were guaranteeing a better customer acquisition profile and also paving the way for resuming faster growth in the coming months, faster and healthier. Moving to the next slide, let's talk about the commercial front. Together with the financial results, on the commercial front, we've been very active on increasing our offer competitiveness, as we talked on the previous slide. We're working with higher speeds, customer attrition reduction, and sales quality improvement, which is already starting to pay off. Additionally, to superior quality on the competitive price, we're also launching new products to capitalize on the strength of our Oi Fibra base and also helping the acquisition process. Those include not only the differentiation in terms of content, but also on the fiber installation model, which will certainly bring significant improvement on our position on higher value clients, as well as increasing customer satisfaction. If you look at the central part of this page, it shows where we're present. We already covered more than 50% of the Brazilian GDP and 42% of the population. We selected very carefully the 200 cities. We keep expanding, but always with a very rational approach to identify where to deploy our homes passed, increasing not only sales, but also the quality of the sales in terms of customer capacity for payment. On those states that we are present, we are already the leader in the fiber access in 17 of these states. If you consider the areas where we're present, we have more than 30% market share. If we move to the next slide, I'm gonna detail a little bit one of these innovation that I just talked about. We launched this month the Oi Fibra X. It's a new concept that is the first Oi is deploying first in Latin America. This concept also works on a pain that we identify with the customer that not always has to do with the quality of the fiber delivered. We identified that the internal coverage or the residential coverage sometimes impact the client perception of quality, and therefore, addressing this, the internal coverage will help not only to increase customer satisfaction, but also to bring new opportunities for monetization. The FTTR, which stands for Fiber to the Room, it's a patented solution developed by Huawei, but launched in exclusivity with the Oi in Brazil that works on a transparent fiber that allow us to deploy very rapidly with a very low impact in the customer premise, a fiber solution to each room of the house. That will increase speed, increase coverage, and of course, guarantee the customer satisfaction in terms of functioning of high-speed fiber in all rooms of the house that the client buys. Moving to the next slide, let's talk a little bit about the retail dynamics. The retail segment after our many changes, we see the residential business resuming growth quarter on quarter, confirming our recent trend. We know the market has become more competitive and that we need to keep advancing our efforts to resume a faster-paced growth and all the actions are being taken for that. On the SME segment, we are seeing a similar trend, and fiber has now become more than 30% of revenues of the entire segment. Last quarter, we talked about PagSeguro partnership, which was launched a few months ago, and is growing triple-digit, already reaching 7,000 clients in the initial months of this operation. Continuing with partnerships launched, we have also announced the action with the BTG+, in order to offer PME, SME clients with cross-benefits in our portfolio. The solution that we introduced with BTG allows the small and medium enterprise to have access to credit, which we know it's very much in demand in the market nowadays. We expect these partnerships will continue and bring higher stickiness with consumers and higher ARPU. On the next slide, we'll move to the B2B operations. On the B2B side, as we discussed on previous calls, we're transforming this business to become an ICT solution provider. We presented stable revenues on our core B2B revenues, and the revenue profile has been shifting significantly. ICT services are now growing at double-digit rate of 24%, while core telecom revenues have been stable as we migrate clients from older technologies to fiber. On the ICT portfolio, let me share some highlights. As we see, the reopening of off season and increased retail traffic, we're seeing a higher demand for better Wi-Fi coverage. In our Wi-Fi 6 offering, revenues are already growing 50% year-on-year. Also, in this market, we've seen a very high demand for cybersecurity solutions. It's been a very strong growth area for us. Oi, this quarter has launched four new services, including the pen test and security assessment with huge commercial success. We're also adding value to the connectivity. On top of the fiber business that we have together with the V.tal partnerships, we're also selling managed service that allow us to grow faster on the revenue side on top of the connectivity part. Finally, to speed up all this growth, we are increasing our distribution channels coverage through partnerships, mainly. Moving to the next slide, we can take a look on our consolidated revenue scenario. At the consolidated level, if we look at the left side of this page, we can see the green blocks of this graph as the perimeter of the new Oi after the sale of our mobile operation and wholesale business, as well as the potential exit of the TV business. The light green indicates the legacy, plus the non-core business, mainly running over corporate service or legacy technology. Here, even if the revenues are declining due to technology substitution, we keep working on reducing costs and looking for the sustainability of this business. On the new business part of the new Oi, both Oi Soluções and the fiber business are growing in the right direction and already surpassed the legacy revenues, with 64% of the total share of revenues of the new Oi, as you can see on the numbers at the bottom of the slide, indicating that a new growth trend will arrive very shortly to the new Oi. Finally, on the last slide that includes our last view of the V.tal operation, which has now been fully closed. As you all know, we finished the V.tal transaction at the beginning of this month. This operation will allow Oi to accelerate growth on the fiber-related business with very limited cash consumption. V.tal will focus on building and operating the best, largest and unique neutral network in Brazil. While Oi will focus on clients and on accelerating the fiber connection growth at a much higher pace and much less cash consumption. On June 9, the partial sale of the InfraCo UPI to GlobeNet Cabos Submarinos was concluded in the total amount of almost BRL 13 billion. The transaction considered three installments related to the secondary contribution and other three installments related to the primary contribution, part in cash and part in GlobeNet asset contribution. The secondary totalized BRL 8 billion, of which BRL 4.3 billion was paid at the closing, and the remaining will be paid until 2023, offsetting Oi's payment to GlobeNet until 2024. The primary contribution totaled BRL 4.9 billion. In addition, the company already received the Telemar dividend payment that was predicted in our RJ plan. In the closing instrument, the parties agreed also to adjust the FTTH capacity provision contract to reflect more favorable commercial conditions for Oi in the monthly price per homes connected and also in the readjustment index. That's favorable, and we're already translating that into competitive offering on the retail side. After the closing and considering some metrics already foreseen in the contract and commercial changes in the perimeter, the total Oi participation was 34.7%. The participation adjustments of 7.38% were related to OpEx and other financial metrics change of commercial terms. Additionally, the locked box cash adjustments are being calculated already still, but we expect the amount to be approximately BRL 1.2 billion. Even after the participation adjustment, it's very important to emphasize that the value creation of the remaining V.tal's stake has the potential to reduce significantly Oi's leverage in the future, ensuring medium and long-term sustainability. Now I'll hand the presentation to our CFO, Cristiane Barreto. Cris, the floor is yours. Thank you, Rogério. Good morning, everyone, and thank you, Taka, for leading our call today. On our financial results, we start by talking about the routine OpEx, which increased 4.4% over last quarter, but reduced 3.2% in a yearly comparison, or 7.2% on a pro forma basis. Excluding the wholesale infrastructure revenue that as of January 2022, after the operational segregation of V.tal, is accounted as revenue, and before that was considered as a cost deduction. The routine OpEx reduced 7.2% year-over-year, what represents a real reduction of 18.5% considering inflation of the period. I'll talk a little bit more about OpEx in the next slides. The consolidated routine EBITDA totaled BRL 1.2 billion in this quarter, with an 18.1% reduction compared to the fourth quarter of 2021. An improvement of 8.1% in comparison with the first quarter of 2021. The EBITDA margin increased 2.2 percentage points in a year-over-year comparison, mainly as a result of cost discipline. In the first quarter of 2022, almost 80% of the infrastructure CapEx was financed by the advance for future capital increase made by BTG as a result of the locked box concept. We demonstrated this quarter the new level of investment of Oi after the segregation of the infrastructure business and the slowdown of mobile CapEx. Moving on to the next slide, we can look at a little more details on costs. When segregating the blocks of routine OpEx between the cost of growth and other operating costs, it's very important to emphasize the reduction of 80% in the costs linked to revenues and growth, and the reduction of 7.6% in the other operating costs. The consistency of the reductions in costs year-over-year demonstrate our discipline in terms of focusing on efficiency to increase profitability on the new Oi. Some examples are directly related to our strong penetration in the digital journey, with 71% eBilling penetration in FTTH base, 5 percentage points more than last quarter. An increase of 8 percentage points in collection digital channels, 50% over 40% in the last quarter. A penetration of 86% in digital care in FTTH home. As a result, the cost of printing, post and collection reduced 22% year-over-year, and the cost of call center reduced 46% year-over-year. Additionally, in this quarter, the decrease of personal costs of 10.9% reflects the reduction of 3,500 headcount compared to the same period of last year. A year-over-year reduction of BRL 63 million, mainly driven this quarter by a strong reduction of commercial mobile activities and the closing of our store as planned. On the next slide, we can see more details on our cost reduction program. On the bottom side, we can see the consistent reduction of routine OpEx year-over-year in the last quarters as a result of our transformation journey with an 18.5% real reduction this quarter considering inflation of the same period. As we have been disclosing in the last quarters, we describe the main actions in this slide that we are focused on our cost reduction program and the main results captured so far that will guide our future and our commitment with simplification of our operating model. The reduction of BRL 234 million in this quarter in a year-over-year comparison represents nine hundred and thirty-eight million reais annualized, demonstrating accomplishment of 94% of our objective of BRL 1 billion reduction in annualized costs. The main costs that supported the reduction were personnel, already mentioned in with more details in the previous slide. In the blocks of marketing, digital, IT and network efficiencies in D&A, we also presented a total reduction of BRL 123 million in the quarter, totaling almost BRL 500 million annualized basis. We also foresee opportunities related to the legacy turnaround that are already in place within the regulatory agenda. Moving on, we can talk about cash on the next slide. The company ended the quarter with a consolidated cash position of almost BRL 2 billion, a reduction of 39% compared to fourth quarter 2021, and 34.5% reduction when compared to the same period of the previous year. Cash flow was positively impacted by the results of operations and working capital, whose dynamics are leveraged for the company's liquidity management. The legal and non-core lines also contributed to the same direction to a lesser extent, due to redemption of judicial deposits and the sales of properties respectively. The reduction in cash in the quarter was due to a negative result of financial operations, the combined effect of the reduction in financial income from cash in foreign currency and interest payments with BNDES, and mainly the semi-annual interest payment to the qualified bond and the senior bond. In addition to the last payments of obligation to our J suppliers, provided for in the company's judicial recovery plan, which have been now fully completed in this quarter. Next slide, we can see the leverage scenario. After the end of this quarter, with the conclusion of the sale of the UPI Mobile assets on April 20, and the conclusion of the sale of UPI InfraCo held on June 9. From the outstanding debt as of March 31, 2022, BRL 4.4 billion was already paid by the company. Therefore, the total outstanding debt of BRL 34 billion is already reduced to approximately BRL 19 billion. Another important liability management action, on May 31st, 2022, the company and Anatel entered into an instrument of renegotiation and transaction regarding non-tax debts in the amount of BRL 20 billion, including applicable fines, charges, and late payment interest. The renegotiation, which covers both the balance on non-tax debts, object of the transaction terms signed on November 27, 2020, and the renegotiation of new debts with Anatel, provides for a discount of 55%, so that the total debt to be paid for the company is now BRL 9.1 billion. From which BRL 1.8 billion related to judicial deposits was already converted into income, resulting in debt balance of BRL 7.3 billion to be settled in 126 non-linear installments. As a result, the last installment will mature in April 2023. Representing a significant extension of the payments term established on the previous transaction, which would end in October 2027. Now, I return the call back to Rogério so he can make the conclusion. Rogério Takayanagi, take it. Thank you very much, Chris. As we move to the finish, let us point out the continuation of our ESG efforts, which have become, as we have been saying all along, a way not only to recognize what we have always done in this front, but also of doing what is good for the company and the society. On the environmental front, we've been expanding our investments on renewable energy. On the first quarter alone, we implemented 4 new solar plants with more than 1.5 megawatts month. This put us on 50% of our energy coming from renewable energy by the end of this quarter, but we expect to reach the 80% by the end of this year. On the social front, we look at internally and externally. Internally, mainly to our employees and worked a lot during this pandemic period to take care of them. More than 2,000 participants engaged on such programs that went from nutritional service to mindfulness groups and grief support group. Also on the external front, we kept investing on our social endeavors with Oi Futuro. We recently published our social balance, and we keep working on expanding its impact. We have Nave, which works on the preparation of the youth generation for new technology, already covering more than 1,000 students. We are also starting a new front on the teachers. We believe that will impact several thousands of teachers to engage and learn on new technology. On the governance, also internally and external, we worked a lot on bringing our employees up to speed and engage with the high governance levels process, both on the privacy front, but also on the business continuity management system. We also kept on this quarter as we reached close to the closing of the V.tal operation, very strict to the implementation of the governance separation, ensuring V.tal to be independent and neutral. Both people, process, and system have been separated finally by the end of that quarter. Moving to the final slide, I'm not going through all the points. We mentioned in the beginning, we already did a lot on our recovery program, and we're reaching the end of the majority of our steps that we put forward for the end of our recovery program. If we look only to 2022, what we did in this quarter, the first quarter, we managed to have the approval of both CADE and Anatel to the sale of the UPI Mobile. We also merged Oi Móvel into Oi S.A., which was a very complex project, but also allowed the simplification of the company. We introduced the V.tal locked box agreement. If you remember, since the first of January, we're working under the locked box approach, so all the financial results were already considering as the new controller. As the closing of operation was postponed a little bit in respect to what we initially planned, we managed to secure the funding to keep investing on V.tal through an AFAC with the buyer. On the second quarter, already anticipating what we're gonna show on the next earnings release, we managed to close the sale of the mobile UPI. Also together or a little bit couple weeks later, we begin the new positioning of Oi after the sale of the mobile operation. We also signed the term sheet with Sky for the sale of the pay TV business and got the approval of Anatel for the V.tal operation. As Chris already mentioned, we managed to secure the multi-billion-BRL transaction agreement with Anatel, and ended up with the UPI of InfraCo V.tal closing. Let's look at the future. If we look at what's gonna start from now on in this quarter, one of the points that we would like to emphasize is that the closing of this operation and also the judicial process will allow the management to be fully focused on the core business, looking for the acceleration of it. We also expect to have the end of the judicial recovery in a few weeks after the presentation of the final report of the judiciary agent in the beginning of this week. We expect also in the third or fourth quarter the conclusion or the final steps of the mobile UPI are certain. There is a retention that will be relieved after the closing of all the process of segregation, as well as any assessment for potential adjustment that we do not expect to have any material impact. New Oi Investor Day. We are also planning for this quarter, during the third quarter, to host another investor day after the end of all these transactions, so during the pro forma results disclosure of the new Oi perimeter, allowing investors to better understand the company and also to discuss its perspective with an updated equity story, post the M&As that we are already finishing. Finally, the mobile asset transitions. This is a process that will probably take a year, a little bit less than a year now, that will move all the assets that were sold to the SPs to the buyer that will end our TSA process with the team at Vivo and Claro. Finally, we'll keep our project of the arbitration process, and that will take a little bit longer, but is absolutely in line with the plan. There have been many milestones achieved during this journey, and a lot of effort and dedication from everybody involved. We're not standing still, and there are now more challenges to overcome with a new company to build. Remain as for the entire process, more committed than ever. Thank you very much. Awesome. Thank you. We will now begin the Q&A session. Please remember that questions should be asked only in English. To get in line in order to ask questions, please click on the Q&A icon at the bottom of your screen and write your name and company. After a name be announced, a request to activate your microphone will appear on the screen, and you must activate it to ask your question. Our first question come from Leonardo Olmos, Sell-side Analyst from UBS. Leonardo, can you hear us? Hi. Yes, I can. Okay. Good morning, everyone. Okay. Go ahead, please. Thank you. I have two questions. Number one, can you confirm if Oi's final stake on V.tal will be 34.7%? Are there any pending factors that can change this percentage for the upside, I mean, because there was the 38.5% in the material fact. That's number one. Number two, can you confirm your expectation on net financial expenses in 2023 and onwards? Or at least provide a range for us, even if it's a wide one, so we have an idea how the company will run in financial expenses after all the sales and most of the debt are repaid. Thank you very much. Thank you, Leonardo. For now, we don't have any visibility of new adjustments, and we have already eliminated potential future adjustments for the ONT. So the 34.7% is the target number. In the long term, in 2024, there is the possibility of certain future adjustment that were already forecasted in the agreement with GlobeNet to the potential capital raise and some performance metrics, which will depend on how well the company performs. For the second question, I'll hand it to Cristiane. Thank you for the question. The net financial expenses in 2023 will depend on the final number of reduction of this year, of the banks' and ECs, the debt, the prepayment, as well as exchange rate. The main component of financial expenses continues to be the interest of our existing bond in the range of BRL 1 billion this year and per year. Thank you. That's helpful. Have a good day, everyone. Thank you. Okay. Our next question come from Matheus Nascimento, Sell-side Analyst from Inside Research. Matheus, can you hear us? Hello, everyone. Good morning. My question is related to operational margins for the next month. If you can provide us how do you see the profitability margin despite a tough scenario you are facing this year? Okay. Thank you for the question. Question. Thank you for the question. We have mentioned that we're looking for EBITDA margins above 20%. That's our aim for the operational regime. We firmly believe that we will be there, as we can see for the blended results. When talking about operating expenses, we're still ramping them down through the closings. Better to wait for the next quarter to provide with more information. That's gonna be with the information more clean from the infrastructure business in Oi Móvel. As we have been highlighting the last calls, we expect the EBITDA margins above 20% in the long run and between 15% to 20% while we ramp up to that. Okay. Thank you so much. Have a good day. You're welcome. Thank you. Okay. Our next question comes from Oliver Gosters, Buy-side Analyst from Pala Assets. Oliver, can you hear us? Hi there. Thanks for the presentation. I had the same question as the guy before, but maybe to follow up on that one. The BRL 345 million in CapEx that you had in Q1, are those indicative for the coming quarters? And as a second question, your banks and ECAs debt, do you expect to repay it by the end of the year with the haircut or do you believe to extend it? Thank you. Okay. On the CapEx side. CapEx side. Just a second. On the CapEx side, we expect that part of that CapEx, as Cristiane indicated, is already related to some legacy obligations. We believe that we will keep being a lighter company. The majority of the CapEx that will be related to the rollout of a new coverage of fiber, as well as to the connecting of customers, will be taken by V.tal in their business. That's the beauty of the new model that which is to operate with a neutral network company that allow us to keep the pace of growth, but reduce drastically the cash burn. Can you repeat the second question, please? Yeah, I got it. I got it, Taka. Okay. Okay. About the prepayments of banks and ECAs, we are still working on the final liquidity events to finalize the number of the minimum cash that we need to have in cash in December. We still need a couple months to finalize all the discussions with the mobile business that we sold, with the UPIs and also the infra company to finalize any possible adjustment of prices that will be reduced from our liquidity events to prepare banks and ECAs. I think that in a couple of months we have more information about that. Okay? Perfect. Thank you. You're welcome. Okay. Our next question comes from Carlos Sequeira, sell-side analyst from BTG. Cadu, can you hear us? Hi, Marcelo. Tudo bom? Can you hear me well? Yes. Cadu. Yeah. Hi. Chris. Hi, Taka. How are you guys? I have a couple questions. One is on the conclusion on the sale of the pay TV operations through SKY. I was just wondering if you can elaborate a little more on. Oops. Cadu, we lost you. Cadu? Guys. Okay. Cadu just dropped. Maybe I believe the question was related with the sale of our TV assets, where we stand. We already received, as you know, a... We signed a term sheet with Sky for the sale of the assets. We are working to get within the RJ process in order to ensure that we're gonna make this process within the parameters and also with the approval of the judge. We are in the final discussions of the model of this transaction. In parallel, we're discussing with Sky the initial documents and procedures. But of course, we are ensuring that we are within the process with the judge. We expect to have a clearance and more visibility in a few weeks. Cadu, I don't know if you returned here. Okay. Our next question comes from Stefan Leijdekkers, sell-side analyst from Bank of America. Stefan, can you hear us? Yes. Hi, can you hear me? Yes. Yes. You can go ahead, please. Great. Thanks for the call. My first question is around the impact to EBITDA margins if you were to shift from a concession to authorization. Yeah. I think it's better to put out. Okay. Thank you very much for the question. Of course, we're still discussing not only the migration of the concession to authorization, as we discussed in the presentation. We are also discussing on the obligations that eventually, as we see, there will be already some reliefs in terms of obligations that will help us to be more sustainable. Elimination of unnecessary costs and simplification of the already complex concession. Moving forward, we on the long run, the numbers already considered that we will move from the concession to the authorization. We're moving from the 15 to the 20-25 range in terms of EBITDA impact. Okay. Our next question comes from Osni. Actually, Osni works with Cadu. Maybe Cadu is coming back from BTG. Osni, can you hear us? Marcelo, Cadu here. Okay, great. Osni is close to me. Go ahead. please. I'm sorry about that. Yeah. No problem. I think I was connected to somebody else's broadband, not to Oi's broadband. That's why the connection fell. Oh, that's why. How come you do that? Yeah, exactly. There was, you know, some mobile connection from somebody else here in São Paulo. I'm sorry. Now I'm connected to the Oi Fibra, so it's fine. Oh, good. That's great. Okay. I'm sorry. Again, going back to the question that was related to the PGV sale. I was just trying to understand if the cash payment that Oi is receiving and how it deals with the contract that Oi has signed with the satellite providers, the capacity satellite contract that you have. If the payment you're receiving is going to compensate partially or fully for the contract. That's one question. The second one is a more overview of the FTTH market in the markets where we are. What we are seeing now, I mean, it seems that at some point, a few months ago, the competitive environment was a little tougher with prices under pressure and increased co-competition, and maybe now it has changed a little bit for the better. I was just trying to understand how the market is behaving now. Okay, Cadu. Regarding the TV operation, as you know very well, the TV business is a tough environment that requires scale. In particular with the satellite, you also need scale and investment. Since the beginning, our idea, and if you recall on our recovery plan, we forecast that BRL 20 million, which basically was the offset of the satellite costs with this operation in order to neutralize. As we evolved in the transaction and the satellite contract remained with Oi, what we expect from this transaction is that the cash flow will be enough to neutralize the satellite impact. That was our aim since the beginning. Okay. Okay. Perfect. Perfect. In terms of the FTTH environment, we keep seeing as a challenging environment, and all the investments that were done in fiber across the country brought in several competitors. We believe that after the closure of the V.tal transaction, we will also be able to resume growth because of V.tal with a more capitalized balance sheet. We'll be able to keep the pace and eventually accelerate the speed of the growth of the homes passed. As well, in our case, we'll be able to enjoy a superior broadband service, but with a much lower cash need for growth. As you know, a very important part of our investment has been on the growth of the fiber business. Now, with the movement to the new business, we believe we'll be more competitive. In terms of regional competition, we are also seeing that the smaller provider are taking the hit of the macro situation, which of course we hope will bring a more rational competition to the market. Oh, perfect. Thank you, Taka. Can I make, like, a follow-up question? In fact, it's a question that you answered in a previous, the answer you gave in a previous question, but just to make sure. In this process of, you know, operating the old switches, can you provide fixed line services using mobile technology everywhere? Or are you, like, bound by the old concession contracts? You have to keep the copper networks operating in these regions? No. Cadu, we are free to provide anywhere. Of course, we are prioritizing areas, the movement from copper to the wireless solution. We are prioritizing areas where we see we have a central office with a very low number of subscribers, therefore bringing a negative cash flow contribution of that central office to the company. We are prioritizing moving the subscribers that are in those switches into the wireless in order to allow us to disconnect the empty switches. As we mentioned during the call, this quarter alone, we managed to shut down more than 1,000 central offices. Okay. Oh, perfect. Yeah, interesting. Thank you very much. Thanks, Taka. Thanks, guys. Thanks, Chris, Marcelo. You're welcome. Okay, thank you. Our next questions come now from Soomit Datta, from New Street, sell-side analyst from New Street. Sumit, can you hear us? Hello? Actually, it is Eduardo Henrique, sell-side analyst from New Street. Hi, can you hear me okay? Okay, good. Great, Soomit. Now I can hear you. Hi. Sorry. Yeah, technological problems. Just a couple of questions, please, on just first on the fiber business, which we've talked around a little bit. I mean, just in simple terms, the run rate for fiber additions has slowed a fair bit, again into the first quarter. Again, I think we've seen the April numbers for Anatel, from Anatel as well. Is this sort of a reasonable run rate for fiber adds going forward? You know, looking at the Q1 numbers, do we think this is the kind of new normal for the foreseeable future, or when might that change, please? That would be, you know, that would be the first question. I guess as a follow-up, we're seeing the residential business declining in revenue terms, slightly, just 1.8%, I think it was in the first quarter. Are we likely to see that business return to growth over the course of 2022? Thank you. Yeah. Thank you very much for your question, Sumit. We are also expecting, not only expecting, but we are working on that. The first quarter, we saw a deceleration that was both not only through the market, but we also reviewed several internal processes. We mentioned the idea is to have a smarter growth, not a growth just for the growth, but a sustainable growth. Of course, that impacted some adjustments on both the distribution channels as well as the rotation programs. We are already seeing an acceleration of both sales and also the reduction of the churn that will impact, of course, positively on the growth speed. On top of our internal adjustments of process, we also expect that V.tal will speed up the deployment of fiber with of course help us to have more room for growth. Okay, thank you. Maybe as a follow-up just on V.tal, do you know or do you have an expectation for the acceleration in growth coming from non-Oi retail subscribers in the near term? Are we beginning to see take-up of non-Oi subscribers using that wholesale product? What is your kind of broad expectation over the course of this year for that? Thank you. Okay. As we discussed in terms of our governance, we're already working as separate entities. V.tal already disclosed some internal expectation on the work they are doing. We're seeing a standard take-up rate that, with only one tenant, tends to reach between 25% and 30%. With more tenants, that will allow to V.tal to have a more efficient use of the network deployed. The take-up rate can reach levels around 40%. At least that is the V.tal expectation as of now. Okay. Thank you. Okay. Our next question comes from Anton Anikst, Buy-side Analyst from Knighthead Capital Management. Anton, can you hear us? Can you guys hear me? Okay, great. Go ahead, please. Yeah, just sort of an accounting question. Curious about the restructured Anatel obligation, if that's going to show up as a financial debt obligation, and what's the present value that we should expect to see on the balance sheet as of June thirtieth. Just with all the various cash puts and takes in the quarter, you gave us a pro forma gross debt number of BRL 19.1 billion. I'm curious what your cash balance is today. Thank you very much. Okay. Thank you for the question. The transactions with Anatel is not recorded as a financial obligation. It's accounts payable. The installments that's gonna be paid in the short term, in the short term, accounts payable in the short term and the amounts that are gonna be paid in installments after 2023 in the long term. So it's an accounts payable. If you wanna. If you need any other information, exactly what account and where to find, you can. Call us, and with our IR team, and we can help you to find the information, the balance. But it's already there recorded. About cash balance, we prefer to discuss only in the official disclosure, so we can talk about that in the next quarter, in the presentation of the June the second quarter results, okay? Okay, fair enough. Just if I were to come up with, kind of March thirty-first pro forma cash, given the various asset sales, all of the componentry, should be in the, in the deck, in the release, right? I should be able to at least solve for. You gave us a pro forma debt number, but not a- Yeah. pro forma net debt number. That's what I'm trying to get at. Yeah. Because then that depends on the cash. The cash should refer to, we have to disclose in the official disclosures. We just included the pro forma debt. We just got the debt in March thirty-first and took out what we paid after the close of Mobile InfraCo, just to give an idea of what the debt would be. It's not the actual debt in April and in May and in June, because depending on the accruals, financing and other accruals, that's not included there. We just took out what we paid after the closings, just to give an idea. There are additional cash components we withheld with Oi other than the payments. Okay. Understood. Thanks and good luck. You're welcome. Okay, so we are now finishing our Q&A session. Thank you all, and I'll pass the floor to Rogério, so that he can do his final remarks. Please, Rogério, you can move on. Thank you, Marcelo. Thank you, everybody, for coming to our call and the interest. As we said in the beginning, from now on, we'll resume the schedule of the earnings release. On the side of the management, we keep our high commitment to delivery of the operational acceleration and now the building of the new Oi. Thank you, everybody, and have a good day to all. Bye. Thank you very much.