Good morning and welcome to the Conference Call For The Earnings Of The Second Quarter For 2025 of Serena Energia. We inform that the presentation is being recorded and translated simultaneously into English. The slides presented are available for download at the Investor Relations website. After the end of the presentation, we'll start the Q&A session. In order to ask a question, please send your name and company name using the Q&A icon at the bottom of the screen. Any statements that may be made during this call regarding future business prospects of Serena Energia, operational, financial goals are based on the beliefs and assumptions of the company's management, as well as information currently available to the company. Forward-looking statements are not a guarantee of performance. They involve risks, uncertainties, and assumptions as they refer to future events and therefore the tandem circumstances that may or may not occur. Investors should understand that general economic conditions, industry conditions, and other operating factors may affect the future performance of Serena Energia and lead to results that differ materially from those expressed in such forward-looking statements. Now, I would like to invite Andrea Sztajn, CFO and Investor Relations Officer of Serena, to start her presentation. Good morning, everyone. It's a pleasure to be here to share with you Serena Energia Results For The Second Quarter Of 2025. This quarter, we produced 2,365 GWh, a 2% growth compared to the second quarter of 2024. We would have reached 2,621 GWh if we did not consider the impacts of underplan availability and curtailment. At this reduction level, our resource would be close to a P50, especially due to the Delta cluster whose production was 66.4% higher than the same quarter last year, supported by resource 16.5% above P50 and high operational availability. Adjusted gross energy profit reached R$588.5 million, a 16% increase over the previous year, mainly due to new contracts and the record performance of our energy platform, which reached R$70 million in a single quarter. EGP growth in this period would have reached 24% without considering the positive non-recurring events of R$32 million in the second quarter of 2024. Adjusted EBITDA totaled R$421.6 million, a 26% increase compared to the second quarter of 2024, reflecting the increase in EGP and also strict control of costs and expenses, with a R$14 million reduction in OpEx in the annual comparison. If we do not consider the impacts on non-recurring items, year-on-year growth would have been 39%. Operating cash flow generation totaled R$375.5 million in this quarter, an increase of 34% year-on-year, and our net debt/EBITDA ratio ended the quarter at 4.4x, a reduction of 0.1% compared to the first quarter of 2025, reinforcing our commitment to capital discipline. We closed the semester with an adjusted EBITDA of R$732 million, 4% above the first- half of 2024, and 9% disregarding the non-recurring positive impacts of 2024. Given the seasonal business profile of our business, in which historically around 60% of our annual performance is concentrated in the second half of the year, a percentage that was 65% last year, we expect to have a consistent 2025. We remain very attentive to the risk of curtailment and have approximately R$30 million in losses budgeted for the second half of the year. We have been closely monitoring this issue and see potential for a structured solution through regulatory discussions and lawsuits, which could positively impact our results based on the events of the last two years. Bernardo Bezerra, our Innovation, Regulatory Affairs, and Institutional Relations Officer, will be with us to delve deeper into this topic in our Q&A session. In the delisting process, we continue to make progress. In June, at our special shareholders' meeting, we obtained the approval of 99.4% of shareholders, with a quorum of 81% for the waiver of the Poison Pill clause. This progress demonstrates the strong alignment and confidence of shareholders in our strategic plan. Completion remains subject to customary regulatory approvals, including consent from our long-term creditors. We will now begin the Q&A session. Feel free to send your questions. We'll now start the Q&A session. I would like to remind you that to ask the question, please send your name and company name using the Q&A button on the bottom of the screen. Please wait while we collect the question. As mentioned, I'm here with Bernardo, and we received one question. I think people liked that Bernardo would be here with us. We have a question about curtailment; they are asking about what do we think about the regulatory advances regarding that topic. Could you speak a bit about that, Bernardo? Sure, Andrea. First, we believe that the regulator's understanding about this topic in terms of micro and macroeconomics has improved a lot because we renewable generators were playing a role contributing to clean energy, providing clean and cheap energy to everyone. This agreement has been broken. There is a decision from ONS in the evaluation of cuts that's a 5%, 5 MW criteria. They should change their understanding of the way to calculate that, which allows us to have a right to reimbursement of 15%. We are absolutely convinced of our right to have full reimbursement. Due to energy cuts, electrical cuts, and especially because of the availability and reserve agreements, there's no legal basis or regulatory basis that would support the cuts of availability and reserve contracts whose role is to be available and to have a reserve for those contracts. From the regulatory point of view, we are looking at the public consultation 45 under ANEEL's property, in which ANEEL is likely to review this topic. Initially, it would discuss only the allocation of cuts, but we believe it could be a bit broader and change the way that reimbursement is made. The second option would be the Ministry of Energy making a new regulation about how this reimbursement would be made. While we await the regulatory decision, we are taking the initial steps to make sure our rights are respected. Still in curtailment, says Andrea, there are questions from Rafael Pezzuto and Paolo Sazza. They would like to understand about the levels of curtailment that Serena is working with, not only Serena, but the entire market, something that's been discussed in the industry for coming years, and what would be possible mitigation factors for curtailment in Brazil, like news about data centers, that there are possible solutions in the short and middle run. Perfect. Now, Bernardo speaking. We see this year as a year with higher cuts, and micro and many generations continue to increase, causing the supply to be bigger in the system than demand. In the midterm, we see a balance between supply and demand because the subsidy period is decreasing, is ending, and we are sure that regardless of the level, we are entitled to reimbursement, especially in the contracts related to reserves and also other contracts that we know we have a right to reimbursement. The ministry also has been favorable to equalizing both types of cuts. There is also another question about our delisting process by Bruno Varela, if we could give the schedule for the next steps. As mentioned in the presentation and here in this call, says Andrea, we are in the process of delisting at CVM, and we need the approval from long-term creditors. We expect this process to be completed within the next quarter so that we can publish the call and then make the auction. We believe everything will be completed in the third quarter of this year. These are the questions we had. I hand the floor over to the operator to end. The Q&A session has now ended. I would like to turn the floor to Serena Energia S.A.'s teams for their final remarks. Just one final remark, says Bernardo. Despite the cuts we have been subject to, we can show in our earnings and reserves, which remain in line, considering all other initiatives to increase value that have increased our margin and cause us to deliver according to plan. Thank you all very much. As always, the IR team remains available should you have any questions. Have a good week and have a good day. Serena Energia conference call has ended.