Good morning, everyone, and thank you for joining TAESA's Q4 and full year 2024 earnings release video conference. [Foreign language] We have simultaneous translation available for those who may need it. Just click on the interpretation button, which is the globe icon at the bottom of your screen, and choose English or Portuguese. For those listening in English, there is an option to mute the original audio in Portuguese by clicking on "Mute Original Audio." We would like to inform that this video conference is being recorded and will be made available on the company's IR website, where you will also find the earnings release presentation. It is possible to download the presentation in English using the chat icon. Participants will not be able to turn on their mics during the entire event. To ask questions, click on the Q&A icon at the bottom of your screen and type in your question, which will enter the queue. Please note that questions can be submitted during the presentation and will be read out live by the IR Officer, Cristiano Grangeiro, and the IR Specialist, Juliana Castelli, and then answered by the Board during our Q&A session. We emphasize that the information contained in this presentation and any statements that may be made during the video conference regarding TAESA's business prospects, projections, and operational and financial targets are the beliefs and assumptions of the company's management and on the information currently available. Forward-looking statements are not guarantees of performance since they involve risks, uncertainties, and assumptions, as they refer to future events and therefore depend on circumstances that may or may not occur. Investors should understand that general economic and market conditions, in addition to other operating factors, may affect the future performance of TAESA and lead to results that may materially differ from those expressed in such forward-looking statements. We invite you to watch a quick video about the company. After the video, I will turn over to Cristiano Grangeiro to present the results. An impulse can change history. When driven by a greater purpose, it can transform lives. Energy is an enabler for education, industries, and increases quality of life. It is a key factor for the development of any and all nations. For Brazil to make further progress with a solid infrastructure, TAESA connects all five regions of the country, providing safe and reliable energy. It is in charge of implementing, operating, and maintaining over 15,000 km of transmission lines. We have over 40 concessions. We grow every day. We continuously invest in technology, innovation, and on our greatest asset, that is our people. We are TAESA. We are the agents who drive innovation. Our operations use advanced monitoring and prediction systems. We are highly efficient. We bring together technical excellence and sustainable practices, respecting the environment and the local communities where we operate. We promote an environment where diversity and inclusion allow for our growth. We operate safely to allow for the availability of our assets. We always prioritize care for life. Ethics, integrity, and transparency are our guiding principles. We have trust relationships with any and all stakeholders. That's how we create value to society and build an even more sustainable future. TAESA, inspiring efficiency, efficiency that drives us. Good morning, everyone. Welcome to TAESA's Q4 and full year 2024 earnings release session. You will be able to ask questions through the platform. We have the Q&A icon. After the presentation, we will have our Q&A session where we will answer your questions. Enjoy your video conference. On slide three, we will go through our strategic drivers. Our mission is to connect Brazil with safe and reliable energy. Our vision is to be the electricity transmitter of greatest value to society. Our values are we genuinely care for people. We act with integrity, building relationships of trust. We strive for excellence in everything we do, and we are TAESA. On slide four, we have the strategic initiatives of 2024 associated with the two key pillars of our business that are innovation and efficiency. One major initiative is the design and implementation of a shared services center aimed at operational efficiency through process centralization and resource optimization based on three key pillars: service level improvement, process management centralization and standardization, and automation and digitization. Benefits include process simplification, faster and higher quality service, workforce specialization, and skill development in technology and innovation. This project is ongoing, and all administrative processes are under review, which promises strong results. Another significant effort was hiring a specialized consulting firm for cost optimization. This included data collection, benchmarking comparable companies, and analyzing cost indicators using reference multiples for each process. The work also involved mapping potential levers and initiatives. We also had a master plan to understand the goals of the business and seeing the energy we needed to continue growing. We created this plan to increase operational efficiency through process optimization, review, resource optimization, and better use of our systems and data, ensuring a faster, safer, and more effective operation. We are fostering a data-driven culture, enabling precise, up-to-date decision-making and enhancing TAESA's competitiveness. This plan includes risk mitigation measures with an IT infrastructure designed to strategically support the company's growth while maintaining system security and high availability. Another focus is the review of corporate value chain and internal processes. This involves mapping the 21 macro processes derived from the strategic plan. The project will last 12 months, engaging all departments of the company. We are going to focus on optimizing the process of the process breakdown model, coverage of all organizational topics across the value chain, standardization of concepts, nomenclature, roles, and responsibilities, establishment of a process architecture that connects all organizational levels, assignment of macro process and process owners across functional structures, increase in process maturity with clear objective divisions, definitions for each internal process, and monitoring process efficiency through defined indicators. Lastly, the company conducted a significant review of its organizational structure, focused on strategic areas such as operational and maintenance resource and innovation and quality. A key highlight of the efficiency pillar states as operating costs and expenses performance, which showed a recurring increase of only 0.9% versus the previous year, despite an inflation rate of nearly 5%, a noble result of the innovation efficiency initiatives taken. On slide five, we'd like to highlight a few things. Q4 regulatory result was impacted by non-recurring events related to provision reviews and inventory assessments. Q4 RAP was up 1.6% versus the previous year, despite a negative IGP-M in the 2024-2025 cycle. Q4 OpEx totaled BRL 111 million, growing below inflation. The 12-month cumulative recurring OpEx totaled BRL 390 million, up 0.9%. Q4 recurring regulatory EBITDA totaled BRL 480 million, up 0.8%. In the full year 2024, EBITDA and recurring margin remained flat versus 2023 at BRL 1.95 billion and 83%, respectively. IFRS net income totaled BRL 1.7 billion in 2024, up 23.8% versus 2023 due to the IGP-M increase at the end of the year. Partial indexation of Novatrans reinforcements with an authorized RAP of BRL 20.8 million, and the first phase of Pitiguari with an RAP of BRL 4.4 million. Lastly, our management proposal, we have BRL 301 million in profit distribution from the 2024 net income. Total distributions related to 2024 will total BRL 900 million, which is equivalent to 91% of the year's regulatory income. It will, of course, depend on the resolution of the shareholders' meeting that will take place in April on the 29th. On slide six, we have our regulatory net income in Q4 and in 2024. Regulatory net income was down 32.5% year-on-year, totaling BRL 200 million in Q4 2024. As it was mentioned, this was impacted by non-recurring events related to provision reviews and inventory assessments, which we will detail later. EBITDA was down BRL 54.5 million due to the following factors. RAP was up BRL 10.3 million, driven by a 3.9% IPCA adjustment from the 2024-2025 cycle, in addition to the inclusion of Novatrans reinforcements at the end of the year. It's worth noting that the IGP-M, which adjusts 2/3 of our RAPs, was negative for the same cycle. The variable portion was impacted by an unusual tower collapse in our ETEO concession, which explained the BRL 10 million increase in PV between the periods and accounts for 2.1% of the quarter's RAP. Excluding this atypical event, this PV to RAP ratio would be 0.6%, which is consistent with the same period last year. The OpEx line shows the main non-recurring events that affected the result. At the end of 2024, we conducted a comprehensive review of provisions across various balance sheet items, reassessing amounts and expectations for receipts and payments. Further details can be found in our earnings release. Using the equity method, we see it is up BRL 65.3 million, also explained by other non-recurring events stemming from the same provision assessment exercise. The major effects in equity income are linked to the reversal of PVI provisions and fines related to the IE group projects, which included the Aimorés, Paraguaçu, and Ivaí concessions. These revisions affect both net revenue and OpEx lines, as seen on the slide. There's also a positive macroeconomic effect on revenue and a negative impact on financial expenses from our investments. Depreciation and amortization were up BRL 28.4 million due to retroactive unitization of assets, which accounts for about BRL 15 million of the variation and is a non-recurring event. Plus, there's an increase in unitization volume, primarily in Saíra, due to the growth in our asset base. The financial result was down BRL 91.1 million, mainly due to macroeconomic deterioration, coupled with the increase in our gross debt and the reduction in our cash position comparing the periods. It is important to point out that the negative regulatory income was mainly affected by non-recurring and accounting effects, which means there is no cash impact. On slide seven, we detail the regulatory net income for the full year of 2024, explaining the major effects of the year-on-year variation. Our net income in 2024 totaled BRL 991.5 million, down 7.5% year-on-year. As you see, this is mainly due to non-recurring events and the macroeconomic impacts on financial results. Our EBITDA was down BRL 138.1 million, mainly due to non-recurring events. Excluding these events, our EBITDA remained virtually flat, as you will see. Detailing these events, we see a drop of BRL 15.3 million in our RAP, mainly due to the net effect of recognizing complementary and one-off revenue to EUSD, which had a negative effect of about BRL 24 million, comparing both periods. Our PV, down BRL 43.3 million, influenced by two specific and unusual events in 2024, one in Janaúba earlier in the year and another in ETEO, as mentioned in the previous slide. In addition, in 2023, we had two significant VP provisions reversals in Novatrans and ATE, which together amounted to BRL 20 million, as highlighted in previous earnings calls. If we exclude the two unusual VP events in 2024, our VP-RAP ratio would be 0.9%. OpEx was up BRL 71 million. Basically, the same non-recurring events highlighted in Q4 2024 also affected the 12-month cumulative view. Excluding these one-off and non-cash effects, our recurring OpEx grew below inflation. The aggregate method presented a positive performance of BRL 99.2 million, which, in addition to the non-recurring events from Q4 2024 and the macro effects on revenue and financial expenses explained, was also positively affected by the startup of Ivaí between 2023 and early 2024. Here we have the amortization that is also under the same events. We have retroactive depreciation. Our financial result was impacted by an increase in IPCA, a different cash position also in both periods compared, like we've mentioned. On slide eight, we have our regulatory EBITDA, which is a pro forma view that excludes the non-recurring events mentioned in the previous slides and detailed in the earnings release we published yesterday. This is key to show the results on a recurring basis and to help investors understand our future expectations for operational results. When looking at adjusted net revenue, we see a 1.2% positive variation quarter -on -quarter, and it remains stable year-on-year. If we exclude complementary revenue from EUSD and one-off events on reversals on VP, the recurring result was positive, despite a negative IGP-M that adjusted most of our RAPs in the 2024-2025 cycle. A key highlight is that our OpEx was below inflation in 2024. IPCA was 4.8% for the year, which shows a real gain both from the quarter versus quarter, but also from the 12-month cumulative view, which was up by less than 1% year-on-year. We have geared efforts into cost optimization by launching different operational efficiency initiatives. We closed the year with OpEx practically flat. This is just the beginning. We still have many action plans to execute and complete, and we expect even better operational results. EBITDA on a recurring basis totaled BRL 480 million in Q4 and nearly BRL 2 billion in 2024, up 0.8% and - 0.2%, respectively. EBITDA margins stood at 81.2% for the quarter and 83.3% for the year, slightly below quarter versus quarter and year-on-year. It was indeed a year with great performance, considering the negative impact of IGP-M on our revenues and the fact that our projects under construction have not yet made a significant contribution for the year. On slide nine, we present the IFRS net income for 2024. The company's net income totaled BRL 1.7 billion in 2024, up about 24% versus 2023. As you can see, the two lines driving this increase were EBITDA and equity income. When looking at the major variations, it is clear that in both categories, the revenue from monetary correction showed a substantial increase. These two revenues, consolidated plus shareholdings, impacted a total of BRL 593 million. This variation in the monetary correction of the contractual asset is explained by the recovery of the IGP-M, mainly at the end of last year, in October and November. The IGP-M corrected the contractual asset category two concessions by 6.3% in 2024, while in 2023, this correction was negative at -3.5%. This explains the sizable variation in revenue. The explanation provided in regulatory income regarding non-recurring events applies to IFRS net income, but amounts may differ. On the next slide, we add the reduction in the infrastructure implementation margin, which was negatively affected by Ivaí coming online between 2023 and early 2024. It is important to note that this effect and income is purely accounting-based. Now, we will check the status of our ongoing projects. We've obtained all the environmental licenses for our projects except Jauru, for which we've just signed the concession contract, and we are now focused on completing the constructions. We energized the two Novatrans reinforcements between the end of last year and the beginning of this year, ahead of ANEEL's schedule by three to six months, with a total authorized RAP of BRL 38.9 million. Since these reinforcements are mostly valued as VRC, the estimated RAP to be recognized is about BRL 35 million. The difference represents advanced revenue, which we will be returning starting from the next tariff review cycle in 2029. In addition, we've delivered one in the first phase of Pitiguari, about 20% of the project, ahead of the regulatory deadline by 26 months, a major milestone for TAESA's implementation. The second phase of Pitiguari is progressing well. Both the Videira substation and the transmission lines have made significant progress in assembly and cable lining. Saíra and Tangará are also progressing well, especially in the substations with the construction of control houses. We continue to expect completion of these projects over two years ahead of the ANEEL deadline. Ananaí has been our greatest challenge, as the environmental license was sizably delayed by IBAMA. We are working to minimize the impacts of this delay. We made BRL 1 billion in investments in 2024, meeting our expectations for the year, about BRL 0.9 billion and BRL 1 billion. For 2025, investments in these projects, plus the five remaining large reinforcements, are expected to total between BRL 1.6 billion-BRL 1.8 billion. We have updated CapEx and what we expect due to the delay in Ananaí and considered the projects. You expect that for 2026, we will have about BRL 100 million. This is just what we expect for the CapEx, and this is our best estimates today. On slide 11, we will go through the current debt situation of the company. By the end of 2024, TAESA's total net debt totaled BRL 11.1 billion. Considering all of our investments and the leverage stabilized at 4.0 times since the second quarter of 2024. The average real cost of our debt is 5.37%, impacted by the recent rise in the CDI, which is an average maturity of 4.7 years. Our cash position closed the year at BRL 1.1 billion. Our cash position closed the year at BRL 1.1 billion. The debt mix makes a 61% index to IPCA, 36% to CDI, and 3% to IGP-M. The company's corporate rating on a national scale monitored by Moody's and Fitch is the highest recognized level, AAA. It is important to highlight that by the end of 2024, Fitch reaffirmed the AAA local rating and a stable outlook, reinforcing the company's position among the best credit risks in the country and showing positive signs regarding the evolution and execution of our financial and capital strategy. On slide 12, we'll go through our allocation of proceeds, totaling BRL 301 million as mandatory minimum dividends. This is equivalent to BRL 0.88 per unit of TAESA, with the base date set for April 29, conditioned to the approval at the shareholders' annual meeting on the same date. This being the case, the total earnings allocated for the 2024 fiscal year amount to BRL 900 million, which is a payout of 90.8% of the regulatory net income. This exceeds the 75% of regulatory income since the mandatory minimum established in articles of incorporation, which is based on IFRS results, was higher. Over the next slide, we will further explain this difference. However, it's important to note that aiming to optimize our cash flow and leverage management, the proposal payment of the remainder will occur in two installments. On May 28, BRL 190.6 million will be paid, and on November 27, BRL 110.9 million. On slide 13, we see the rationale behind the profit distribution proposal. The regulatory net income for 2024 totaled BRL 991.5 million. After adjusting for the RAP of BRL 7.3 million, which was represented in 2024 due to the tariff review, as we've done for each distribution this year, the adjusted profit amounted to BRL 998.8 million, BRL 998.8 million. Considering that our proposal for the 2024 profit distribution is at least 75% of the regulatory net income, we get to BRL 749.1 million to be distributed for the year. To approve profit allocation, checking if BRL 749.1 million is higher than the minimum mandatory difference. Let's see the rationale. We start with the IFRS net income for the year at BRL 1.694 billion. We then subtract the tax incentive reserve of BRL 10.3 million and get to the adjusted profit of BRL 1.684 billion. Since the articles of incorporation define the minimum dividend as 50% of the adjusted IFRS net income, we estimate then BRL 841.8 million. Finally, we need to calculate income tax withheld at source on interest on equity payments made in 2024 due to the minimum mandatory dividend amount and get to BRL 900.1 million. Therefore, for the 2024 fiscal year, once approved in the shareholders' annual meeting, we will pay minimum mandatory dividend of BRL 900 million, which is equivalent to 90.8% of the regulatory net income. That is what we had for you today. We will now move on to our Q&A session. Thank you. Thank you, Cristiano. We will now start our Q&A session. It is a live session, and we will have our officers here to answer the questions. To ask questions, click on the Q&A icon at the bottom of your screen and type in your question, which we went through the queue. Good morning, everyone. Thank you so much for joining our video conference. We have over 500 people here with us. It is a great pleasure to be here talking to you about TAESA's performance in 2024. We would just like to introduce our officers, Rinaldo, our CEO, Cátia Pereira. We have Fábio Fernandes here, our Shareholders' Chief Officer, and we are here to answer as many questions as you may have. Our CEO will turn over to you. Thank you, Cristiano. Good morning, everyone. Again, it's a pleasure to be here to talk to you, to talk about the outlook for the company. We have our executive board here with no vacant position. We are looking to a great pipeline in 2025. We have this full executive board here, and we are going to play a key role to produce results for the company. I'm going to first address Q4. Q4 is a very specific quarter. We have the reversal of provisions, so it's a bit peculiar when we are going to compare that to other quarters. We wanted to show you that we do have some specific adjustments due to provision reviews that may be negative or positive, but the overall outlook, especially considering our cost optimization, when we exclude this effect, we see an increase of about 1%, which is below inflation. That is really the trend that we see moving on. Cristiano mentioned our shared service center, our cost optimization program. We are reviewing our infrastructure driven by efficiency. We are already reaping the rewards of some of the initiatives we have put in place in 2024, and we are really optimistic for 2025. Our regulatory EBITDA was really in line with some of the results we had before, despite a negative IGP-M. My view is that, and that is what I wanted to share with you. In addition, I would like to point out the energization of Pitiguari and Novatrans. Very positive. We see growing revenue for the next year, and at least for this year. In addition, another highlight was what we've done for a while, but we've seen extension of Aimorés and Paraguaçu over the deadline since we had been discussing with ANEEL. This is really positive. We're talking about BRL 75 million that are additional, considering these delays we had. For me, this is really positive also. Regarding dividends, this is always important. We need to remember that in the beginning of the year, we talked about two things that would happen. We would change the calculation from IFRS to the regulatory net income. In addition, we have also said that 75% of net regulatory income was going to be the minimum. Based on what Cristiano said, we are talking about over 90% of our regulatory net income. This shows that the correction of our assets has been really positive. Our IFRS result is even higher. Considering the need to pay 50% of the IFRS net income, we were able to reach this 90% of regulatory net income. The idea of this rationale behind it was really trying to anticipate and bring forward this effect that is fully aligned with our cash flow and our investment strategy. We have about BRL 2 billion in investment to be done, considering these five large projects that are ongoing. We have a new cycle, consolidation of these projects. In the macro situation, we should look into IGP-M, a higher IPCA. We do have macroeconomic factors that will have an impact on our future revenue. An increase in our RAP is probably going to be very positive. On the other hand, we expect higher interest rates that are probably negatively going to affect our revenues. We do have some financing on the pipeline, and that will be impacted by that. We believe that the credit rating that is a AAA will allow us to get good funding and get financing for our major activities when we need to produce good results in the future. I'd like to point out that in our last fundraising, that will give us some good cash position. We have minimized the effect of interest rate, and that's very positive for our cash position. Just doing the math from a conservative standpoint, we will have about BRL 250 million that will not leave our company, considering the grand period we have of interest rates. I always like to point out when we talk to the market is the deleveraging of the company. When we increase our revenues of our ongoing projects, we know that for 2025, we are looking into a good year. Like Cristiano mentioned, we had some licensing issues that we had to deal with. We will have a bit of higher expenses than we anticipated because of that, but we will have a good leveraging ratio. As of 2026, I'd like to say that we are going to enter into a deleveraging process. We will have an RAP and revenues positively helping our cash flow. The deleveraging will, of course, allow for the companies to continue growing and taking new opportunities. We, at the moment, I am, of course, probably answering some of the questions you could have, but of course, we are always going to consider these projects, the energy options, because in the future, we will have the ability to enter into new projects and get new undertakings. In 2025, we will review our strategic plan. We have a regulatory plan to outline. This is going to be key here. We have the end of some concessions. We will work together with Abrate and other entities to continue conversations, but we will also keep focusing on innovation. Innovation for us is about higher efficiency in our company. We've seen some of the results of this new driver. What do we have then? We have this dividend distribution that is above 75%, above even 90%. For me, I think the outlook of the year is quite promising. If we consider even the macroeconomic indicators, they will positively affect us over the next months. These were my initial remarks, so I think that now we can start our Q&A. Thank you, Pec. We have received many questions here. Some of these questions you have already answered, but I think it's important to go through some of these initiatives. I will try to ask one. We have here Rafael Ratto of AGF. I'd like to know what the next steps are, considering the end of some concessions. Considering what you said in your earnings call, what do you see in the future extension of this contract? I would like just to hear about the next steps considering the end of the concessions. Someone said in 2028 would be the end of the concessions, but I just would like to start by saying that no, it's in 2030. We have many initiatives that are ongoing considering the end term of our concessions. ANEEL, as an agency, is a body that tries to help to understand what is going on. In 2025, it's impossible for us to say if we will be able to renew the contracts or participate in new auctions, but we do have some subsidy. We have some grants from ANEEL to continue showing our position or what we want to do considering this scenario. We do believe that we can renew contracts considering different economic conditions, of course, but this is something we are going to look forward to doing. 2025, I think it's going to be a very important year. Like I said, we will have different initiatives with some government bodies that are key for our industry, and that will, of course, give us an edge for future concessions. Thank you. Thank you, Pec. We have another question. I will ask our CFO, Cátia Pereira. It's about a topic that Pec talked about, but I think it's important to hear your take. We have Reinaldo Veríssimo Francisco, that is an individual investor, and he said, "Considering the drop in margin over the last transmission auctions, how do you intend to drop leverage that went from 3.7% to 4%?" I think Pec answered most of this question. I think that we will have a natural deleveraging of these undertakings that are already ongoing. In 2025, we will continue focusing on efficiencies that will also contribute to this deleveraging situation in the future. For us, regarding what we said about dividend distribution, we are going to stick to this from 75%-90% of our regulatory net income. This is really in line with what we have in the future, considering this deleveraging scenario as of 2026. We see the leverage rate in 2024, in the end of 2024, of about 4. It should increase a bit in 2025, but we expect it to be quite lower as of 2026. Thank you, Katia. Talking about auctions, I'm going to ask Fábio the questions here. We have Paulo Miranda asking, "What is the possibility to participate on auctions outside of Brazil?" We have Matheus Santoro. How do you see future auctions? What do you expect of future auctions? Thank you, Cristiano. Thank you, Paulo. Thank you, Matheus. Thank you for everyone who has joined our video conference. With regard to participation in auctions abroad, considering the opportunities we have in Brazil, we don't have any intention of participating in auctions abroad. Our operations are domestic, and we have great opportunities still in our national territory. We see energy transition and energization of the economy that represents a higher demand for energy. We see AI and probably also higher demand to support data centers as really promising. We see great opportunities domestically in the near future, considering this transition moment we live in. We see the demand increasing to really support this new economic cycle. This is our perception. Of course, that if there is any opportunity, we are going to look into that, but what we can talk about in terms of capital allocation is to focus in Brazil. When we talk about energy transition, and transition is key for us to connect energy with the demand, this is what allows for the energy transition to happen, okay? Thank you, Paulo and Matheus, and I am at your disposal for any other questions you may have. Thank you, Fábio. Our next question is from Rogério Baraquet, our individual investor, and I will ask Cátia. This is the question. What do you see for IGP-M, a gradual increase? What do you expect? Thank you, Roger. Yes, we expect a sharp increase in 2025 of about 9% in terms of RAP. This is what we foresee for the next RAP update. Thank you, Cátia. I am trying to see what comes next. We have questions about our leveraging rate, our growth, dividends. I think we have answered all the questions. I am going to wait to see if we have any new questions, but I think that our presentation was quite enlightening. Considering that we are coming to an end here of our earnings call, I guess we have answered most questions of our analysts and investors, and I'm going to turn over to our CEO, Rinaldo, for his final remarks. Thank you so much, Cristiano. Again, thank you everyone for joining us. My final remark is of great optimism regarding the future of the company. We have the macroeconomic outlook that is quite promising. We've been managing the interest rate and properly managing our financing opportunities. Like I said, we have a regulatory pipeline we are going to tackle this year. Considering all our action plans and the efforts we've been gearing into becoming highly efficient and also having some cost optimization allows us to produce great results in the future. We will have other earnings calls in the future, but I am very positive that being optimistic is what we can be right now. I think that we will produce great results over the next quarters. I think figures are going to confirm what we do on a daily basis. We try to consider any and all opportunities that we have in addition to having a full executive board to think about the pipeline and the future of the company. My key word for you would be optimism and a promising outlook. Thank you so much, everyone who helped us to get to this position. Thank you, and I see you on our next earnings call.