Good morning, and thanks for waiting. Welcome to the conference call of Ultrapar to announce the signing of the sales agreement for Oxiteno. This event is also being simultaneously webcast. You can follow it on the company's website, ri.ultra.com.br or on MZIQ platform. This conference is going to be led by Mr. Rodrigo Pizzinatto, CFO and IR Officer for Ultrapar. We would like to inform you that this event is being recorded and that all participants are going to be in listen-only mode during the company's presentation. After the presentation, we'll start a Q&A session. Further instructions will be provided. Performance, they involve risks and uncertainties since they refer to future events and depend on circumstances that may or may not occur. Investors should understand that general conditions and other operating conditions may affect the future performance of the company and lead to results that will materially differ from those in such forward-looking statements. We are going to turn the call to Mr. Rodrigo Pizzinatto to start the presentation. Please, Mr. Pizzinatto, you may go on. Good morning, everyone. It's a pleasure, thank you for attending this conference call in such a short time. You will find the presentation on our website. I'm going through it. There are just a few slides, I'm going to start on slide number 3. I am pleased to announce another important step in our process to revisit our portfolio. We announced today the signing of the sales agreement of Oxiteno to Indorama, a Thai petrochemical company. With the sale, we conclude the stage of rationalization of portfolio, which we started with the announcement of the sale of Extrafarma in May, and then our share in ConectCar in June this year. These divestments are related to our strategy of building a more complementary and synergistic portfolio, which we have been discussing with you for some time. With the conclusion of this portfolio move, we'll be better positioned to advance in the businesses where we have more structural advantages in terms of scale, competitive differential, sector knowledge, and others with a more robust and better starting point for the growth in the coming years. I also reinforce our view that we are in a one unique time of investment opportunities in the energy and infrastructure sectors. In the oil and gas area, besides the ongoing investments for expansion and productivity of Ipiranga and Ultragaz, we have been evaluating potential investments in refining and natural gas, as you know. In infrastructure, we have been making growing investments in Ultracargo. In March, we had the specific event of the company to highlight the growing opportunities we have seen there. We also have been studying how to leverage businesses and competencies to actively participate in the energy transition process, both in natural gas that I mentioned, which is a transition fuel with a smaller carbon footprint, but also in renewables. In addition, we also see opportunities to create value in other businesses that are adjacent, such as the profitable growth of AmPm and in the development of Abastece Aí. As you know, which is the largest loyalty program in Brazil. They have the Abastece Aí app, which is a digital payment method. Thus, the sale of Oxiteno today will allow us to improve our capital structure. With the sale, our leverage that was 2.8 times net debt to EBITDA ratio in June. If we exclude Oxiteno's results from the EBITDA and include the cash expected from sale, our leverage would be around 1.7 times. With this transaction strengthens our financial, strategic, and management capabilities to better seize the opportunities ahead of us in the coming years with a more robust, complementary, and synergistic portfolio. Now I'm going to slide number four. I'll talk about the transaction with a bit more details. Indorama is one of the largest petrochemical companies in the world, with operations in more than 30 countries in products such as PET, polyester, and integrated oxides. In addition to the benefits of the geographic expansion and Oxiteno's position in Latin America, Indorama's current scale with revenues about $10 billion, specific knowledge of the industry and the company's operation in the United States, where it is one of the largest producers of ethylene oxide, will provide relevant synergies in the business combination Indorama Oxiteno. From Ultrapar's point of view, recent results with an extraordinary combination of strong volumes, high margins, and devaluated exchange rate increased the value perceptions of the business. The enterprise value of this transaction is $1.3 billion. Oxiteno has results, as you know, that follow certain industry cycles. Considering the average EBITDA of the last three to five years, which was about $120 million-$130 million, that normalizes the cyclicality of the business. The EV/EBITDA multiple of the transaction is 10x-11x for Ultrapar, which is higher than the trends and multiple of other companies in the industry, and also above the average multiple of Ultrapar itself. This transaction was made at this level due to the relevant synergies for Indorama in the transaction. We are going to the next slide before our Q&A. Just with further details. The payment will be $1.15 billion at the closing of the transactions and $150 million on the 2-year anniversary of closing. Given that the transaction value higher than Oxiteno's book value, we will have a capital gain on the transaction. Our expectation is that income tax on the capital gain will be less than $70 million, which is obviously subject to closing and foreign exchange adjustments. Condition precedents are usual for the type of transaction. The main ones involve the approval by Brazilian regulatory agencies as well as in the U.S.A., as well as the conclusion of the preemptive right process for Ultrapar shareholders. Talking about that, this transaction also gives rise to preemptive rights to Ultrapar shareholders since Oxiteno shares were merged in 2002 when it became a wholly owned subsidiary of Ultrapar. This process, as I mentioned, is similar to the one we had with Extrafarma's sale and aims to meet the Brazilian laws in line with Section 253 of the Brazilian Corporations Law. Thus, each shareholder of Ultrapar will have the right to acquire Oxiteno shares in proportion to its stake. We will call a general meeting in a few weeks, which will consign the beginning of the period to exercise the preemptive right. All the details of the operation will be made available at the time of the call. I emphasize that Oxiteno is a private company and will have a foreign controlling shareholder. Whoever acquires Oxiteno shares will not have liquidity to negotiate these shares in the future. The exercise of preemptive right and financial settlements will occur before the closing as it is a condition precedent to the completion of the transaction. The transfer of the shares will be subject to the fulfillment of all conditions precedents and may suffer price adjustments. Well, with this, I conclude my presentation, and now we can start the Q&A session. Thank you. We'll now start the Q&A session for investors and analysts. If you have a question, please press star one. If your question is answered, you may leave the queue by pressing star two. As a reminder, if you have a question, just press star one. Our first question comes from André Hachem from Itaú. You may go on. Good morning. Thanks for taking my questions. I have two questions on my side. First, could you please talk about the total amount of the transaction. How much is equity and how much is debt that is coming along, or is the amount is just equity? That's the first question. Second question, I would like to understand a little better. Last week, you talked about two movements. First, expansion, and then revisiting your current portfolio. With the sale of Oxiteno, it seems that you have more room to take the next step. Could you give us a bit more color about your structure movements, what kind of debt you're going to have? What do you think your next step is going to be now that you seem to have completed your portfolio review? You can have a mismatch timely between the money coming from Oxiteno and the payment that you have to make. How do you see this mismatch, and could you see that during this mismatch period, you could have a higher leverage ratio? Thanks, André, for your questions. I am going to start with the equity debt question. The amount of $1.3 billion will come in as company cash. Inside Oxiteno, we have an intercompany debt that will go with the transition, about $750 million. We are going to receive $1.3 billion U.S. in cash, depending on the closing date, as I mentioned, and closing conditions. As for debt, as Fred mentioned last week, we have ongoing questions about the acquisition of Refap and other projects of expansion at different points of maturity. These funds that come in with the closing of this transaction increase our financial capacity to advancing in these processes. Answering your next question about the interim mismatch. We don't control time of expansion project, but the divestments announced, including Oxiteno, is the largest. We hope that the closing of the transaction will be in the beginning of 2022, which is going to be before the disbursements for these other projects that are ongoing and under assessment. We are going to get paid before we start paying, if we decide to move on with the projects that are ongoing. Thank you. Very clear. Congratulations on the operation. Thank you. Our next question comes from Gabriel Barra from Citibank. Hello, Rodrigo. Thanks for your time. Congratulations on the transaction. I have two questions on my side. Thinking of tax payment alone, it's important in this transaction, when you take a look at the book value of Oxiteno inside Ultrapar, you see that there is a relevant capital gain. I might be wrong, but in my calculations, it would be a much higher amount of income tax than you announced. Could you talk a bit more about these taxes? I think there is a relevant impact for us to know how much the company is going to have in its cash in the end of the transaction. That's the first question. Timeline. If you could give us a bit more color in what the transition process is going to be for Oxiteno and even Ultrapar. Making a follow-up of the previous question, would be very interesting to understand when the company is going to receive the whole investment amount. As for the amount that you talk in terms of leverage, 1.7, given the amount that you disclosed in the presentation, you could get to a lower leverage ratio. I would like to understand this 1.7 a bit better. Thank you very much. Hello, Gabriel. Thanks for your questions as well. Well, let me start with the rationale of the income tax to be paid. You're right, the book value of Oxiteno is about BRL 1.7 billion. Together with the transaction, we are going to transfer to the buyer a prepayment of exports that today is intercompany of Oxiteno and a subsidiary of Ultrapar abroad. With the transfer of this debt, this reduces the equity amount and therefore the tax amount on capital gains. In addition, there is an allocation of transaction expenses and other effects that will enable us to have an estimated disbursement of income tax on capital gains that is below $70 million. That is obviously also subject to the closing adjustments and the exchange rate. As for the time of the ongoing transactions. Well, we have the lowest transaction, which is ConectCar, that is to be completed in the coming months. It is still in 2021. Extrafarma, as we have a bit of a longer process because of the Brazilian Antitrust Agency, we expect to complete it in the first half of 2022. We still do not have a clear visibility of when the process is going to be because again, the greatest uncertainty in terms of time is regarding the Brazilian Antitrust Agency and its final decision. In Oxiteno, we estimate a relatively lower time for the Antitrust Agency because this is a transaction that involves a company that has very little activity in the regions in which we operate, except for the U.S. Given the size of the American market, this is a transaction that should not face much time for decision of American regulatory agencies. The estimate in terms of times for the final decision of our regulating agency is about six months. Again, we do not control the time, and obviously it can be extended, legally speaking, up to 11 months total time. With that, we will probably have, in terms of receivables of the highest portion of Oxiteno, BRL 1.15 billion in the beginning of 2022, following the final decision of the Antitrust Agency and other conditions precedents. We should receive BRL 1.15 billion in the beginning of 2022, ConectCar this year, and the first installment of Extrafarma also in the first half of 2022. With these transactions we are looking into right now, in the best case scenario, if we move on with the acquisition of Refap, it would be payment to be made in the second half of 2022. As for leverage, which was your last question. The rationale of leverage is very simple. We considered in our calculation data from June 2021. We removed the EBITDA of the last 12 months of Oxiteno. In net debt, we added the estimates of receivables of cash free of tax. That is the calculation that went from 2.8x to 1.7x. 2.8x in June. Okay, just a quick follow-up. Talking about Extrafarma, the amount that you are using somehow to deduct from taxes. Yes, the loss that we just disclosed of impairment in the Extrafarma operation is going to be used in Ipiranga to reduce the disbursements imposed in Ipiranga. Okay. Disbursement of taxes on Ipiranga. Okay, thank you very much. The next question comes from Luiz Carvalho from UBS. Thanks, Rodrigo, for taking my question. I would like to try and recap your math here. BRL 1,150 of equity, BRL 750 of debt. You're talking about taxes on the difference between these two amounts and the book value that you have today. My question is, first to know if this is correct. The second question, in the previous conference call, it was very clear that you are in a process of revisiting a portfolio. Could you give a bit more color about other recurring revenues that the company is looking into for the future? Hi, Luiz. Also thank you for your questions. First about taxes. I'm going to use the reference amounts in dollars just to make it easier. Enterprise value $1.3 billion. Oxiteno's PL in dollars, $330 million, and debt of $750 million, net debt. All together would have a net amount of $221 million with 34%, gives $75 million. We have some transaction expenses, the possibility of using credits in the balance sheet to also reduce the disbursement, and that's why we were thinking of an amount below $70 million for income tax due to the transaction. As for other projects, we have been talking about the transaction in the refinery. I think this is very clear. Natural gas, Fred himself mentioned recently the opportunities we are looking into, both in investments in GNL and distributors. I think these are the most tangible projects right now. We also have been analyzing opportunities in renewables. That is still in the beginning. What we have been doing is accelerate the expansion of Ultracargo, and the opportunities have been increasing in Ultracargo in addition to other expansions that are ongoing, especially infrastructure in Ipiranga, Ultragaz infrastructure, and also AmPm. These are the main projects. We are going to give you more disclosure as they materialize. Okay, thank you very much. Next question comes from Thiago Duarte from BTG Pactual. Hello, good morning, everyone, Rodrigo. I have one more question here. I would like, Rodrigo, you to talk a bit about the synergy of the remaining portfolio in Ultrapar. Strategic-wise, it's very clear you're talking about the energy business with Ipiranga, Ultragaz, infrastructure with Ultracargo. That is very much co-related with fuels. I would like to hear from you, Rodrigo, about the capacity to capture synergies as the portfolio is given today. Why do I ask that? In the past, some time ago, we discussed with you about the need of the group to simplify the decision-making process and bring management closer to business units to enable synergies to be truly captured. Today, the impression that we have is that businesses are still somehow managed in a very independent way. I would like to hear from you how you see that these three main businesses that will remain can indeed deliver synergies in between themselves, Ipiranga, Ultracargo, and Ultragaz. If you please. Good morning, Thiago. I also thank you for your question. Well, if we take a look at the remaining portfolio, Ipiranga, Ultragaz and Ultracargo. First, as you know, sectors in distribution of fuels, GLP and infrastructure, you have immediate investment opportunities that can be optimized. Instead of Ipiranga making an investment in a terminal or Ultragaz, you can have Ultracargo, you have a benefit of scale, better use of employed capital because the same asset can be operated with other players. You also have trading benefits that are integrated. You have a market of gas itself that is opening and that, consolidated with the fuels, obviously brings benefits in terms of intelligence and scale. A very relevant effect of the simplification, and I think that's a very good word. It's a simplification of portfolio because we had very different businesses. If you consider a pharmacy chain with a petrochemical industry, with ConectCar, which is a toll company. That will give the management a lot more focus, agility in its processes, and also bringing more focus to the verticals in which we are operating and in which we are going to have exclusive dedication. As Abastece Aí, it was competing between Ultrapar and ConectCar, but no longer. The same thing with AmPm. That is having now more focus in our business portfolio with the simplification. Focus, simplicity, agility, the faster decision-made process, everything gets simpler. Although we are very complex company that is present in several countries with operating units. There is also a difference in between the operation of the remaining businesses now. I think these are the main benefits, opportunities of investment, better use of capital, trading, focus, agility, simplicity. In addition, obviously, of this rationalization that enables us to have a much more robust, better capital structure to pave the way of investments for the coming years. Thanks, Rodrigo. Trade is something that really draws our attention and has to do with the discussion that we had last week about Ipiranga. Do you believe that to capture this efficiency in fuel trading between Ultrapar and Ipiranga are given the way that the portfolio is going to be structured from now on? Do you need to change something in the way the structure is put together? This is an ongoing process. The benefit has to be built, here the benefit with that directional trading, for instance, will enable us, for example, to use Ultracargo terminals to help in this kind of positioning. This is the kind of benefits that you will have, but that has to be built. It's not a given right now. Okay. Thank you very much. Very clear. As a reminder, if you have a question, just press star one. If you are following us on the webcast, just click on "Ask the speaker" to send your question. We now have Vicente Falanga from Bradesco BBI. Good morning, Rodrigo. How are you? I just would like to understand one thing. The net debt that you mentioned, BRL 750 million. Does that include the leasing GTL or not? If not, could you tell us what the present value is just for us to calculate the amounts? Thank you very much. Hi, Vicente. Thank you for your question as well. If you can repeat your question, your voice was a bit cut off. If the debt of BRL 750 million includes the GTL of leasing and if it is in IFRS 16? No, it does not. The GTL of the leasing is about BRL 40 million, right? It's a very, very small amount. Okay. Thank you very much. No, thank you. I have a question that was posted on the webcast, so I'm going to ask the question and answer it. It comes from Alejandro from Nau Securities, and the question is the following: If this business will have a breakup fee and what is the size of it, and if the second payment is conditioned to terms. There is another question from Rafael Sommer from Logos Capital that has a very similar question to Alejandro's. If the BRL 150 million is an earn-out clause? Answering the two questions. Yes, we do have a breakup fee in the transaction. It is irrelevant, but we are not going to make it available due to the confidentiality of the transaction and of the contract. The condition of the breakup fee, obviously, is the fulfillment of agreement terms or eventual and unlikely disapproval from the Brazilian antitrust agency. As for the BRL 150 million in the second installment, no, it is not a one-off. It has no other terms other than time. After two years of the closing, the payment is going to be made at BRL 150 million. No other conditions. It's deferred payment. One more question from an individual investor, which is, "How do you see the valuation of this transaction in addition to the multiple, or beyond the multiple?" Well, one way to think this valuation above the multiple, as we mentioned, is to think how we see the return on capital invested. If you consider the results of 2021 of Oxiteno, with an average between the peak and valley that was given to the market in 2021, and you consider the average amount, the profit of Oxiteno divided by the employed capital and the amount of the transaction, BRL 1.3 billion, you're talking about a return on invested capital of 2.5%. Obviously, for the buyer, the ROIC is much higher than that because you're going to have synergies. We have a return profile that is much above the 7.5%. Remember that this reference that I'm giving to the return is a record historic EBITDA for Oxiteno. Finally, in terms of returns for the transaction, I will remind you two things. First, Oxiteno's EBITDA two years ago was BRL 70 million. Also remember that the sale is taking place in an exchange rate that is very favorable to the transaction. If you take a look at reais, the multiple is much higher than that of the dollar rate. Do we have one more question on the webcast? You can go on. We have a question on the phone. We have a question on the phone by Regis Cardoso from Credit Suisse. Hi, Rodrigo. Good morning. Thanks for taking my question. Most of it has already been answered, I would like just a quick follow-up about Oxiteno's EBITDA. I understand that this is at a higher level than in the past. The question is, do you see this level that the company was keeping at a higher because it moved to a specialty mix, if the buyer saw some benefit in having more specialties, or if the suitable comparison is just the average of three to five years and the product mix is more or less the same? Just to understand the profile from now on between specialties and commodities. Hi, Regis. Good morning, and thanks for your question as well. Well, from now on, the profile specialties and commodities is responsibility of Indorama. Of course, Oxiteno's specialty mix is what attracted the company and enabled us to have a higher perception of valuation. When we look at the moment we are going through, as I mentioned in presentation, we have a very good mix of deep valued exchange rates and historically high margins. It was a right timing and path for this value enabled the transaction now. The buyer has a position in the U.S., which is 10 times greater than ours in the U.S., Oxiteno's. Certainly they have very relevant synergies in the U.S. operation that we wouldn't have if we kept Oxiteno. Therefore, we can have a transaction that generates values to sellers and buyer because there are loads of synergies for the buyers to take from this operation, especially in the U.S. Because they are a player that operate in more than 30 countries, optimizing the capacity of production in the different geographies due to the different clients they have is also something that can bring relevant logistics savings and others. That's an important synergy. In addition to the usual benefits of having greater scale. I mean, fixed cost, plant maintenance, technology and R&D. I think that's in a nutshell why we got to this amount that was quite interesting for Ultrapar and for the buyer themselves. Thank you, Rodrigo. Very clear. Now we are going to turn the call to Mr. Pizzinatto for his final remarks. Well, I thank you very much once again to attend this call. It was a very short time between the material notice and the call. Remember that our team are here for any further questions you might have. Thank you very much and have a good day. Thank you. The conference call is now closed, and we wish you a very good day.