Good morning, ladies and gentlemen. Good morning. Welcome to the results video conference of Sequoia Logistics, where we will show the financial reports from December of 2025. Today we have Leopoldo Bruggen, who's the Director, President, and the Financial Director and Investor Relations Director. This presentation is being recorded and has simultaneous translation. The translation is available through the interpretation button. If you'd like to listen in English, you can also turn off the original audio, selecting the option mute original audio. We clarify that any declarations made during this conference with relations to the business perspectives of Sequoia, operational goals, and financial situations are projections of the directors of the company and may or may not happen. Investors should consider that political factors, macroeconomic factors, and operational factors can affect the future performance of the company and lead to results which are materially different than those mentioned here. To initiate the presentation of the results for 2025, I pass the microphone to Mr. Leopoldo Bruggen. Thank you all for your presence, and I would like to start off by asking your forgiveness for the lateness in the release of this report. We had relevant subsequent important events after the 31st of December, which required additional analysis in the closing process and the audit process. We also point out the signing of the agreement with the PGFN and the sale of the mega sorter in April. Both had to be evaluated by the auditors to determine eventual reflections about the numbers of the previous year's results. At the same time, we're revising our structure, processes, and systems to normalize the calendar of the release of results and ensure the compliance with the legal requirement for this report going forward. Beginning with the vision for 2025 was a year of transformation for the company. We got the approval on our plan for our extrajudicial plan for the non-financial creditors. We advanced in the transaction with the PGFN. We had JiveMauá assuming the shareholder control. We converted BRL 813 million in debt into capital and repositioned the strategic short-term strategy to have a focus on logistics of banking objects and the recovery of the B2B operation. In March of 2025, we received the approval of the plan for extrajudicial recovery. With that, we liquidated BRL 141 million in obligations with creditors in the plan through the issuance of new shares or payment in cash. We now have only BRL 6 million to pay in the short term and BRL 87 million between 2030 and 2033, corrected by the IPCA. It's a profile of payment which does not pressure the generation of cash projected for 2026 and permits a grace period of five years for the beginning of payments in 2030. In October of 2025, we received the terms of the transaction with the PGFN, with a discount in interest and penalties with the possibility of use as tax losses. The discounts which were issued of 65% above interest and penalties, resulting in a reduction of 46%. Beyond that, the company could utilize 57% of these fiscal losses to liquidate debts with the Social Security debts and up to 70% with the other debts, which results an additional reduction of 33%. In practice, this signifies that the company will have to pay 18% of the taxes that are late taxes together with the federal income tax people and the PGFN totalizing BRL 110 million in 15 months. We are also evaluating the utilization of federal payments in connection with the fund to mitigate the exit of cash in the short term. Any relevant advances will be communicated to the market. JiveMauá injected BRL 45 million in the company between August and November of 2025. These resources were fundamental for the continuity of operations, especially in logistics of banking objects. Beyond that, in November of 2025, the administration approved a 13th issuance of debentures, convertible debentures in shares, with the objective of reinforcing our cash and converting more debt into capital. In this operation, JiveMauá added BRL 40 million in money, in cash, and converted BRL 215 million in debt. As the other shareholders opted not to exercise their right of priority, JiveMauá assumed control of the company at the beginning of 2026. We closed 2025 without the payments of operational payments that are late and with BRL 257 million in cash. Starting at that moment, we are working hard on the governance and strategy for the biennial two-year period of 2026-2027, together with the new controllers, the directors, and the other managers of the company. All of our goals are now based on the generation of cash. Finally, at the end of 2025, the conversion of other debentures reduced the debt indebtedness to BRL 598 million, principally related to the global agreement of 2023. Adding the new capital entering, the reduction in the net debt was BRL 430 million. On slide number two, we presented a variation in the capital of the company in 2025 in the format of a waterfall. We started the year with a negative net equity of BRL 925 million, a picture typical of companies that are in the middle of a financial restructuring. Over the year, we converted BRL 813 million in debt into capital, reducing liabilities through the issuance of new shares. We also captured BRL 46 million to reinforce the cash in the 13th issuance of debentures, being BRL 40 million added by JiveMauá and BRL 5 million by Bradesco Bank. During this period, we liquidated BRL 69 million with non-financial creditors to the issuance of shares. This value includes conversions within the plan of extrajudicial recovery, net of the payment of conversion discounts, along with payments to consultants and suppliers of the shares of the company. The plan of extrajudicial recovery generated a positive effect of BRL 148 million in results for 2025, considering discounts, prices for conversion, and adjustments to the present value of the payments, which will begin in 2030. These effects are reflected in the demonstration of the results, the financial reports for the period. In the case of the PGFN, the net gain was recognized by BRL 38 million, resulting from the combination of the updating of our debt, the end of administrative processes, and discounts obtained in relation to interest and penalties. This value does not include the BRL 219 million of tax losses which were utilized, since these tax credits was recognized in previous year's balances. The amounts in red show principally negative effects of the losses of 2025. A relevant part of these impacts, nonetheless, do not affect our cash, neither our liquidity, which is the case of the update of debts previously capitalized. The depreciation of our debts, amortization of goodwill, and provisions for contingencies, which are still under discussion. With all of these movements, the company improved its net equity by BRL 741 million over 2025, strengthening its capital structure and its capacity for operational continuance. Continuity. In the next slide, we will show the audited balance. We observe relevant reductions in the balance due to suppliers, loans, and tax liabilities. These reductions come directly from the plan of extrajudicial recovery, of the conversion of debt into shares, and the transaction with the PGFN. We also see that in the balance of 2025, the utilization of credits and tax losses previously recognized. We analyzed the circulating capital, an indicator widely used to measure the capacity to honor short-term commitments, we still have a negative position. Nonetheless, we already see a clear way forward for the reversion with the subsequent events to those actions, and those actions which are underway. We already concluded the sale of the mega sorter for BRL 38 million. This operation was approved in the definitive decision by the CADE without restrictions, and we have already received half of that value. We re-agreed to the seventh emission, and we began with the 9th, 10th, 11th, and 12th issuances of debentures. We're also negotiating the lengthening of the cash flow to the PGFN by the cessation, by the ceding of financing of federal loans. Part of the remaining liabilities remain in ICMS and ISS tax debts, which have maintained since 2024, a team dedicated to map, control, and negotiate these debts, looking for reductions and longer periods of payment based on programs in the states and municipalities. For 2026, our expectation is the generation of operating cash, a positive cash generation. This advance will be fundamental to sustain the growth of our healthy operations and at the same time permit the liquidation of liabilities restructured in 2025. In the next slide, number four, we presented the operational performance in 2025. Net revenue fell by 33.5% in the fourth quarter of 2025 and by 36.3% over the 12-year period, reflecting the deliberate exit from the segments with negative margin. The most important point is that the net profit returned into positive territory, both in the last quarter as well as in the consolidated for the year, evidencing the structural improvements in the profitability of the company. This happens due to the progressive exit from operations which had been contributing negatively to our results. A movement which was ended by the end of this mega sorter in April of 2026. We also registered a reduction in operating costs with the highlight of the labor costs, rental of storage facilities, and losses associated with e-commerce. As far as the net revenue of BRL 592 million in the cumulative 12 years, we had BRL 552 million in costs of services rendered. Freights and franchises continue to represent the largest part of this cost structure. In 2026, we will continue operating in the reduction in labor costs in the search for alternatives for more efficient transportation methods, and the pass-through of eventual pressures on the increase of diesel on the prices of cost of services offered. In terms of SG&A, the positive effects of the restructuring have started to appear, including the impact in the plan of extrajudicial recovery. These effects can be analyzed in greater detail, but the financial demonstrations in the release of results available in the site of the company. In parallel, we are executing the simplification of the administrative structure with the elimination of the vice presidencies and the reduction of number of directors, unifying offices and automatization of manual routines. In 2024, the result was strongly impacted by the increase in provisions and the impairment of the goodwill related to the acquisition of the Transportadora Americana. The accounting loss of this exercise was BRL 1 billion, of which BRL 481 million came from the write-down of this goodwill. Considering the initial stage of the restructuring of our liabilities together with non-financial creditors, labor costs, and tax costs, this reflects the context which the company lived at that time. In 2025, with the approval of the extrajudicial recovery plan and the advance of the negotiations with the PGFN, we started to see relative important gains in our results. These effects reduced our losses and increased our equity, as we showed earlier. To evaluate correctly the results of this liquidity, it's important to remember that part of these financial expenses of depreciation, of the amortization of this goodwill, and the variation of provisions for contingencies do not generate cash losses. These are effective, important, relevant accounting effects, but do not necessarily imply immediate financial pressure. The example is clear from the 2025 capitalizations. They impacted our results are financial, but were liquidated with shares without loss of cash. As a consequence, the financial expenses in 2026 tend to be substantially lower. The EBITDA margin for 2025 was positive in 14.6%, with expressive improvements of 42.1 percentage points compared to 2024. This advance reflects the positive effects of the approval of the extrajudicial plan and the gain in the transition with the PGFN, and then the lower participation of losing business in the results of the year. With the calculate of accounting EBITDA, we are eliminating the impacts of financial expenses, the tax and social contributions, as well as the depreciation and amortization. In the case of 2024, we also excluded the impact of the impairment of the goodwill in line with CPC 01. On the next slide, we showed the composition of the revenue by business area. On the line of banking objects operated under the brand Flash Courier, we continue as a national leader with a presence with the largest private banks, fintechs, and benefit companies. In 2025, the revenue with the delivery of banking objects added up to BRL 560 million, a fall of only 4.3% in relation to 2024. We started 2026 improving the management of the profitability and pricing, reinforcing the cross-selling of machines for credit cards, POS cards, paper rolls, and institution material to deliver everything in the same route as our credit cards. We are also investing in a large artificial intelligence to deal with the large volume of data, renting a distribution center in Barueri, which is closer to our financial center, and evaluating new equipment for the automation of the processing of more than 10 million objects per month. In B2C, the reduction of revenue reflects the decision of the discontinuation of the operation, which did not present any profitability together with the strategy of the company. This movement resulted in the sale of the mega sorter and in the rental of the distribution center in April 2026. In 2025, the segment of e-commerce B2C registered gross revenue of BRL 69.8 million, not enough to sustain a positive profitability. In B2B, we registered retraction over 2025 with revenue of BRL 49 million, a fall of 72% compared to 2024. Our expectation of reverting this picture in 2026 with goals for the recovery of a level of sales closer to the historic level of operation. On slide seven, we summarize the principal strategic directories of the company for 2026. Our priority is to improve the technological innovation and initiatives of cross-selling with the banking objects. Flash Courier, it has the vocation to be the principal platform logistic in the country for banking objects of small volume, such as credit cards, institutional material, and machines and credit cards, and POS cards. In parallel, we are going to expand this B2B operation into asset light operation of low risk. The company has already raised more than BRL 200 million with this type of operation in the past, attending important clients in the smartphone and in the computer equipment area. We want to recover that space. The maintenance of working capital for the growth of this business should happen with the anticipation of receivables together with investment funds and credits, which when applicable, with the anticipation of receivables, performing directly with our clients in the financial sector. We should point out that the companies in the group operate with a united system of governance, permanently audited and is listed on the stock market in Brazil. From the point of view of execution, we sold the mega sorter and concluded the exit of logistics for e-commerce. We started offering a plan for voluntary retirement in São Bernardo do Campo. We continue in 2026, and we continue executing the management of the legacy labor and tax bases. With this focus on additional debts, we have looked at the principal results we hope to capture in 2026. Recovery of market share with greater discipline and profitability in pricing, as well as initiatives for upselling, we expect to grow in revenue for banking objects by 10%, at least 10%, and increase our operating margins. If we are successful in this execution, this group of initiatives will generate BRL 100 million annually coming just from bank of logistics for banking objects. Recovering logistics of B2B, it can represent approximately BRL 100 million in annual sales with an operating margin between 10% and 15%. We're talking about a leverage in the generation of cash supported in the structure and expertise already existing, which contributes to the greater diversification of revenue. The exit from logistics, B2C logistics is very important for the maintenance of our cash. This segment has generated operating deficit of BRL 39 million in 2025, beyond the cost of capital which was employed in the mega sorter. With the sale of that asset, company recovers BRL 30 million in cash and eliminates monthly losses of approximately BRL 2.5 million, which represents a positive effect of approximately BRL 30 million. With the exit from B2C logistics, we open space to simplify our overhead and concentrate on the remaining businesses. For the hierarchical structure, we'll go to a more agile structure, simpler and with less bureaucracy. The measures already executed should show an economy of more than BRL 12 million. Finally, we maintain a team dedicated to the management of our legacy, which renegotiates the liabilities remaining from negotiations with groups such as the ICMS, ISS, labor losses, and obligations connected with acquisitions in the past. Beyond looking at discounts in special regimes and programs for regularization, our focus is also on the lengthening of the periods of payment to balance liquidation of our legacy together with our operational cash. With this group of measures, we believe that 2026 will be a year of growth, more sustainable in the generation of positive operating capital. To reinforce this perspective for generation of cash, we point out one of our principal competitive differentials. Our network of delivery for banking objects is composed of 435 partner franchises, which reunite more than 4,000 deliverers and cover 1,559 cities in every state and in the federal district. This coverage reaches 73% of the Brazilian population in a country of continental dimensions. Beyond the geographic capillarity, Flash reunites competitive attributes, important attributes such as its own systems for logistics, apps, proof of delivery, structure of service, and robust requirements for the protection and data anti-fraud. On average, these services are 60%-65% more competitive in price compared to the solutions from the Correios, from the mail. Beyond presenting a level of success of delivery close to three times higher. The monopoly that the Correios has together with government companies, since state companies maintain 25% of the market. We present the results of 2025. Additional information is available in the site of the company. We thank you for the participation of all, and I will return this back to our moderator. We now close the video conference results for Sequoia. In case of any doubts, the team of Investor Relations is available at the email ri@sequoialog.com.br. We thank you for your participation, and we wish you a good day.