For those that don't speak Portuguese, we have the English simultaneous translation that can be used by pressing the interpretation button represented by the globe icon on the bottom right corner of the screen and choose the English option. For those listening to the video conference in English, there's an option to mute the original audio in Portuguese by clicking on Mute Original Audio. We inform you that this video conference is being recorded and will be made available on the company's IR website. You can also download the presentation using the chat icon. During the company's presentation, all participants will have their microphone disabled. We will start the Q&A session. We would like to remind you that to ask questions, you must click on the Q&A icon at the bottom of the screen and write down your question to get in line. When being announced, a request to activate your microphone will appear on the screen, and then you must unmute your microphone to ask questions. We recommend that the questions should be asked all at once. We point out that the information contained in this presentation and any statements that may be made during the video conference regarding business prospects, projections, operational and financial goals of the GPA constitute the beliefs and assumptions of the company's management, as well as information currently available. Forward-looking statements are no guarantee of performance. They involve risks, uncertainties and assumptions, and therefore depend on circumstances that may or may not occur. Investors should understand that general economic conditions, market conditions, and other operating factors could affect GPA's future results and could lead to results that differ materially from those expressed in such forward-looking statements. With us today are GPA CEO Marcelo Pimentel and CFO and Investor Relations Officer Guillaume Gras. I will turn the call to Marcelo Pimentel for his initial remarks. Good morning to everyone. It's a pleasure to be with you today, providing you the opportunity to clarify points regarding the material fact that was published at the end of yesterday. Continuing with the material facts from 8th of August, 5th of September, December 30th. Yesterday, we released a material fact communicating that the board of GPA approved the proposal that will be submitted to the General Assembly on February 2nd, which segregates businesses, GPA and Éxito. Today, we will give you opportunity to clarify regarding the structure of this operation. We have prepared three stages for today. We will end with a Q&A session. The first part of today is a summary of the structure and the merits of the transactions. Many of you have already observed this structure. It's important to remind all of you the structure and the merits of this transaction. The second part would be the timeline of the transactions and the upcoming steps as of now. At last, we will talk about the share distribution of Éxito and how the mechanism will work. I am with Guillaume, our CFO, that will proceed with the presentation, embarking in details, and he will show you in details each one of these three points. Then we are at your disposal to answer any questions you may have. Guillaume, good morning. Thank you, Marcelo. Good morning to all of you. Thank you all for participating in this call to present the progress of our project to separate the activities of Grupo Éxito. On slide five, we have the structure of the transaction. First and foremost, I would like to remind you that before the separation of Grupo Éxito's activities, we adopted decisions aimed at strengthening the financial structure of GPA three-one. The anticipation of the installments related to the sale of the hypermarkets into the schedule of received of Éxito's ordinary dividends regarding 2020, which will occur before the separation is effective. That being said, the separation of Grupo Éxito's activities will be carried out via a distribution of Éxito's share through a capital reduction. Now, from GPA's current stake, which is 96.5% in Éxito, we will distribute to its shareholders 86.3% of Éxito's capital, and we will maintain a 13.3% stake. Thus, the new shareholder structure of Éxito Group will be: GPA will continue with 13.3%. Casino will directly hold 34.1%, and the market will have 52.6%, increasing the current floating of 3.5%. As already mentioned, the distribution of shares will be made via capital reduction, representing BRL 7.1 billion. This is 52.7% of the GPA group equity that represented BRL 13.5 billion at the end of Q3 of 2022. Finally, considering that Grupo Éxito is listed asset in the Colombia exchange, this distribution of shares will be carried out through a BDR and ADR program, both level 2, which will meet the same current governance levels of GPA. On slide 6, we have the rationale of this entire transaction. Looking at the separate market value of each asset, we've observed that the market appears to significantly undervalue these assets. On the GPA side, the market value is lower than the value of Éxito, in which the group has a 97% stake. This implies in a negative valuation of the GPA group. Looking at the Éxito side, the market prices are below the average multiple of the sector and also below the last two transactions made in Éxito's capital in 2019 and 2022. This is probably because of a free float capped at 3.5% of capital. By separating the assets, we expect to allow the market to better price the companies and unlock the value not reflected in the market cap of the companies. This transaction allows us to increase Éxito group's floating to 53% and also the liquidity level, thanks to a listing in three regions Bogotá, São Paulo and New York. This transaction does not create a lack of synergy and allows the management of each company to focus more on each one of its markets. On slide 7, we would like to remind you that this transaction is similar to the spin-off operation that we carried out in the past with Assaí, which was in the beginning of 2021. The operation also aims to unlock the value of Assaí, which was not fully reflected in the market cap of the GPA between the date of the spin-off announcement and 6 months after the spin-off went into effect. The sum of the GPA plus Assaí parts increased 85%. On slide 8, you can see the main key financial and operating indicators for each one of the companies separately based on the last 12 months at the end of Q3 of 2022. Each group is the market leader in the formats they operate. Perhaps I will give the floor to Marcelo Pimentel so he can present these new two groups and remind you the GPA strategy. Can we go to the other slide? This is just to remind you what we have thoroughly communicated regarding the GPA strategy or the new GPA as we call it, that is a supermarket proximity and multi-channel group. This is a vision based on six strategic pillars with top line growth, improvement of the customer experience. We've used NPS to measure this pillar. The growth in our digital penetration in all levels. Growth of the organic expansion of our stores and models. Here I would like to highlight the success of the organic expansion during 2022. We ended with our planned growth, the resumption of profitability to our business, last but not least, the base of culture and our ESG commitments. We are doing this with a view of a plane with two wings, one wing aiming at the premium market with Pão de Açúcar, Minuto Pão de Açúcar brands, and another wing which we call the mainstream. This is Mercado Extra, Compre Bem and Mini Mercado brands. Our focus, as we have mentioned, is precisely to capture the resumption of the importance of the brand Pão de Açúcar, the prioritization of this brand, and focusing always on our customer. This is what we have done. This transaction will also allow us to consolidate the focus, GPA on the national Brazilian operation, with which we are committed to. Going to slide 11. Here you can see the timeline of this transaction. Up till the day we concluded 2 important stages. One, the agreement with the banks and debenture holders on this transaction to the filing of the BDR program together with the CVM. Next steps, we have the filing of the ADR program that should happen by the end of January. The extraordinary shareholders meeting on February 14, which will vote on the capital reduction to execute this transaction. Subsequently, we have a 60 days period, and this will start for GPA's creditors to oppose or not the transaction. The CVM approval of the BDR program and on Q2 with the possibility of approval in the first quarter. The SEC approval of ADR program on Q2 and at the end, the distribution of Éxito shares as of April. This date may evolve depending on the date of the second CVM approval. On slide 13. This is the third part of this presentation, where I will give you more visibility regarding the arrangements for distribution of Éxito Group shares. Number 1, what will GPA shareholders receive? Each GPA shareholder will receive 4 Éxito shares for 1 GPA share. The GPA shareholder who holds 1 U.S. share listed in the New York Stock Exchange via the ADR program will receive 4 Éxito shares via ADR level two, also listed in the New York Stock Exchange. The GPA shareholder that holds 1 share in Brazil, listed in the Novo Mercado of B3, will receive 4 shares of Éxito through BDR level two, also listed on B3. When and who will be entitled to receive Éxito shares? As of April 15th, the end of the legal opposition period for creditors and after the approval of the CVM and SEC filing. Once we receive the green light from the SEC and CVM, we will publish a new material fact that will set the record date for GPA shareholders and the date of the first day of trading of Éxito's ADR and BDRs. Who will receive Éxito shares will be the GPA shareholders in proportion to the shareholding position on the record date that will be communicated beforehand by a material fact. What is the cost for the shareholder? No cost is associated to receive Éxito shares. In addition, shareholders will have no costs during the period up to 30 days if they wish to change the region where they will hold Éxito shares and can migrate to Bogota, São Paulo or New York. After 30 days, the possibility of migrating to another quotation region will continue to exist, but with associated costs. Finally, we recommend that GPA shareholders contact their brokerages in case they have any questions about the transactional aspects of Éxito shares. I close the presentation here and open for the Q&A session. We are now going to start the Q&A session. I would like to remind you that if you wish to ask a question, click on the Q&A icon on the bottom part of the screen and write your question to be in line. A request will be provided to activate your microphone, and then you must activate your microphone to ask questions. We would like you to ask all your questions at once. Let's move on to the first question. It's from Gabriela Eiras Dech, Sell-Side, BTG, in Portuguese. We are going to open your audio so that you can ask your questions. You may proceed, sir. Thank you for taking my question. On our side, it's gonna be quicker. We would like to understand what's the extraordinary dividends of Éxito of t hat had been mentioned previously. I think this was mentioned in the material fact. I would like you to explain whether this time frame will continue and the amount, and if we would like you to provide more details about what we have available in terms of timing of Casino, the sale of Casino after the transaction. Thank you for the question. When we look at the dividend of Éxito, first, it's an extraordinary dividend. It's the ordinary dividend based on the results of 2022. The amount of $400,000, this is not the amount that we expect. It should be based on the net income of 2022, which is not known yet. It's going to be based on the results of 2022. In relation to the second question, in relation to the sale of Casino, we still do not have this information. We have no estimate. Éxito is an asset that is valuable with the potential to grow, to increase its profitability. The financial performance of the past years was exceptional. Its financial structure is very solid as well, very sound. Casino will continue accompanying Éxito in terms of value, we will check what will be the best moment to sell the equity of Casino. Okay, this is it. Thank you. Our next question comes from João Pedro Soares, Sell-Side of Citi. Your audio will be open so that you can ask your question. João, please, you may proceed. Good morning, Marcelo. Good morning, Guillaume. Good morning, everyone. I have two quick questions on my side. First one is in relation to the total cost of the transaction. What would be the order of magnitude of how these expenses are going to be allocated, and also the order of magnitude that we can expect? The second point may be more to Guillaume. What's the leverage level that we expect from GPA Brazil after all the transaction, after all the proceeds have been received from Assaí. Looking ahead, what's the run rate in terms of leverage for GPA? Thank you. In relation to the transaction cost, we are not expecting anything material. Two different natures of expenses. One related to the project that will compensate all the consulting companies and all those who helped in the process, and the other is in relation to the pro-creation of the program of ADR and BDR, which is not a material cost. In relation to the leverage after the transaction, in the end of the third quarter, looking at the Brazil perimeter, were BRL 13 billion and a half. We expect to end this year with BRL 2 billion approximately of net debt after having received the last installment of the transaction related to the sale of the hypermarket. For 2023 and 2024, we expect a gradual de-leveraging of GPA. We expect to get close to BRL 1 billion and zero this net debt in 2024. As we have mentioned before in Investor Day, and I'm going to take the time to remind you what we said about the leveraging aspect. After receiving last installment of the sales of the hypermarket, we have the distribution of ordinary dividends of Éxito. We also have plans to sell assets which are non-core, real estates, and all other items that we intend to sell, whose market value is BRL 1 billion or BRL 1 billion half. We expect to sell still this year. Lastly, we have our share, remaining share of Éxito of 13.3% and a share that we maintained on purpose so that we can contribute in this deleveraging plan. This could represent, according to the market behavior and how the market is going to price the market, the Éxito shares. We are going to see what would be the value that we had after the transactions that may represent something around BRL 1 billion, BRL 1.5 billion. We would like to remind you that in addition to those remaining share in Éxito. We also have participation or share in Cnova that is also going to help us in this deleveraging process. What we expect in terms of that debt, answering your question, it's BRL 1 billion at the end of 2023 and 0 this debt at the end of 2024. It's very clear. Thank you very much. The next question comes from Danniela Eiger, Sell-Side analyst of XP. Daniela, we are going to open your audio so that you can ask your question. Daniela, please. You may proceed. Good morning, everyone. Thank you very much for taking my question. I have a follow-up of João's question. In relation to deleveraging, you've mentioned some points that are still not certain firm, such as Cnova's share. We still do not have a timing visibility or any idea of value, and also to Éxito share that remained. You mentioned. We do not have any visibility in terms of value or timing. What would the debt play out in this aspect, since we do not have any visibility or any guarantees? My second question is in relation to the roadshow that you prepared and related to this transaction. I believe that you gathered lots of interest in order to understand the level of interest in XP. I would like to know if you had any block trade or any people who are interested who would like to have the assets in Colombia. Thank you. Thank you, Daniela, for the question. You're right, we have no guarantee that Cnova and Éxito's shares are going to take place this year. That's the reason why we took the initiative to look at the possibility of selling non-core assets of the company. The distribution of dividends of Éxito is guaranteed. Even so, our indebtedness is going to be reduced. If Éxito sale does not happen, our net debt is going to be below BRL 2 billion for this year, and we hope to reach BRL 1.5 billion as we continue with this plan of selling assets. Looking at the flow back. Oh, I couldn't understand all your question because your audio was cut. This is a natural movement. Obviously, there are going to be some investors, especially Brazilian investors, who are not going to have or want to have a position in Colombia for reasons of management policy. On the virtual that we've held, we saw many investors interested in GPA's assets. We saw American, Colombian investors interested in those assets. This movement of sales, in this movement, we understand that it's going to be offset on the other side by Colombians investors and especially North American investors. We hope to see a redefinition of the investors with fewer Brazilians and more Colombians and more Americans. We don't know what's going to happen in the next step. We have made a very important move considering the quotations that we made in the regions Bogotá, São Paulo, New York. We can see that there's a very broad base of investors that will be able to absorb this sale. We see that there are other investors interested in this Colombian asset. I would like to add, saying that those investors, we need me to think about the pension funds in Colombia since we are going to have a higher level of floating, and it's inevitable that they are going to have exit in their portfolio, and there will be natural buyers of those shares. We expect that, as João mentioned, we have seen from the roadshow that there are lots of interest from Colombian, American investors and some Brazilian investors are also interested. It's important to mention that not all of them have interest in selling their shares, but it's important to take into consideration the pension funds as well. A session of perguntas e respostas está encerrada. We have come to the end of the Q&A session, and I would like to turn the call to Marcelo Pimentel for his final remarks. I would like to thank everyone for attending this call, and I would like you to know that all the IR structure is available to use if you should have any questions. In the next few months, we are going to continue working hard on this event, both Éxito and the GPA's teams on roadshow, so that we can materialize the transaction and provide all the clarifications. At the right moment, we are going to find the right moment to hold the Éxito Day in Brazil, so that we can bring to you every possible clarification. It's important to mention the value of Éxito assets. It's a sound, profitable company, a very successful company. We affirm that this transaction has the best interest for our shareholders in terms of value generation. This is the reason why we are completing the transaction. Good morning, everyone. We would like you once again to thank you for attending this call, and we are available should you have any interest or any questions. Thank you, everyone. The conference call has come to an end. The IR department is available to answer any questions and provide any clarifications you may have. Thank you very much and have a good day, everyone.