Good afternoon. Welcome to the second quarter 2026 earnings conference call of Unipar. Joining us today we have Rodrigo Cannaval, CEO, Alexandre Jerussalmy, CFO and Investor Relations Officer, and the IR team. Please note that this event is being recorded and translated simultaneously. The translation is available by clicking on the interpretation button. For those listening to the conference call in English, there is an option to mute the original audio in Portuguese by clicking on mute original audio. The presentation is available for download on the platform and on the company's website at ri.unipar.com. After the presentation, we will begin the question- and- answer session when additional instructions will be provided. Before proceeding, we would like to clarify that any forward-looking statements made during this conference call regarding Unipar's business prospects, financial and operational projections and goals constitute beliefs and assumptions of the company's management, as well as information currently available to Unipar. Forward-looking statements are no guarantee of performance. They involve risks, uncertainties, and assumptions since they refer to future events and therefore depend on circumstances that may or may not occur. Investors and analysts should understand that general economic conditions, industry conditions, and other operating factors may affect Unipar's future results and could cause actual results to differ materially from those expressed in such forward-looking statements. I would now like to turn the floor over to Alexandre Jerussalmy, who will begin the presentation. You may proceed, Jerussalmy. Thank you, Raquel. Hello, everyone. Welcome to our earnings call for the second quarter of 2026. Please note that the figures presented here have been adjusted to exclude the effects of IAS 29, the accounting standard applicable to hyperinflationary economies, as is still the case in Argentina. Before outlining the highlights for the quarter, it's worth reminding everyone of our business priorities, which are safety in all operations is an absolutely core value. Operational excellence as one of the main drivers of our business competitiveness. Three, focus on the customer and differentiated service, which has been a critical factor in the face of competition from imported caustic soda and PVC. Four, focus on generating operating cash flow and maintaining financial discipline. With these priorities in mind, let's look at the highlights and the result of the Q2 2026. Let's start with operational excellence agile, proactive commercial strategy pillar. In the quarter, we achieved a capacity utilization rate in Brazil of 84%, made possible by the successful ramp-up with the technological modernization in Cubatão. We also saw a 19% increase in sales of chlorinated products and a 7% increase in caustic soda compared to the previous quarter, even reaching some monthly records over the quarter. We reduced our PVC sales volume by 11% in the quarter, maintaining our selectivity towards sales here in Brazil and having observed another quarter of high pressure from imported PVC. Regarding the external scenario, geopolitical tensions created a new global dynamic in international prices. In this context, international prices of PVC and caustic soda rose 53% and 26%, respectively, compared to the first quarter of 2026, offsetting the significant increase in the costs of ethylene and natural gas as we have seen over the quarter. Regarding exchange rate, the 4% appreciation of the real against the US dollar ended up negatively impacting our results. In the area of strategic CapEx and increased competitiveness, our Cubatão plant, equipped with the new technology, reached full capacity in April, the project is completed and delivered. We have also completed our chlorine liquefaction and purification project in Camaçari, which began operations this July. You will not see yet the results of the completion of this project in the second quarter of 2026. The good news is that the project was completed in July. The impact of all those factors on our economic and financial performance was very positive. Our adjusted recurring EBITDA reached BRL 402 million, a growth of 177% compared to the first quarter of 2026. Our net income reached BRL 123 million, and our operating cash flow reached BRL 347 million versus BRL 316 million in the first quarter of 2026. As a result, our cash position increased to BRL 1.4 billion, providing 34 months of coverage for our debt amortizations. Our leverage ratio has fallen to 2.5x, while our average debt maturity stood at 67 months, with 90% of our debt maturing only from 2029 onwards at an average cost of CDI plus 0.40% per annum, which we consider to be very competitive. Our resilient operational cash generation and the normalization of strategic CapEx enabled a reduction in leverage, despite a greater need for working capital resulting from increased prices of finished products and also of the increased price of inputs. Moving on to slide five, we see an improvement in our electrolysis utilization rate, which in the consolidated figures for Brazil and Argentina has returned to the 80% level. The improvement in Brazil is directly related to the successful ramp-up implementation of the new technology in Cubatão, and in Argentina we maintained a stable performance. It's important to note that production and sales are managed on an integrated basis across our plants in Brazil and Argentina, and this enables us to better manage costs and inventory levels across the units we have in those countries. Our self-produced energy reached 56% of all the energy consumed in Brazil, reflecting a high level of curtailment and a certain level of unavailability of wind, which together accounted for 33%. It's worth noting that we already have the installed capacity of self-generation in Brazil to meet 80% of all the energy consumed in the country. On the next slide, we see the positive evolution of our net revenue with an increase of 22% this quarter versus the previous quarter due to the following. Caustic soda and chlorinated product sales volumes increased by 7% and 19% respectively, with some monthly sales records also being achieved. In terms of PVC sales volume, we experienced 11% reduction, as previously mentioned, due to our greater selectivity in our commercial strategy within Brazil and in the face of pressure from imported PVC. International prices for caustic soda and PVC also contributed positively to our net revenue, somewhat offsetting the adverse effect of the real's appreciation. Compared to the same quarter of last year, net revenue of the second quarter increased by 14%, driven by higher sales volume across all our product segments, with increases of 9% in caustic soda, 6% in PVC, and 4% in chlorinated compounds. In addition to the higher international price of PVC in the second quarter when compared to the same period last year, which also offset the diverse effect of the real's appreciation. It is important to remember that we have been focusing on continuously increasing our competitiveness in the production and marketing of chlorinated products, which is a segment not exposed to petrochemical cycles, and at Unipar, has a unique scale and geographical footprint. As I usually say, we are a chemical company that produces PVC, not a petrochemical company that produces chlorinated compounds, and this is an important point to bear in mind. On the next slide, we show the evolution of our cost of goods sold with the COGS for the second quarter of 2026, 4% higher than the previous quarter, driven by higher sales volume of caustic soda and chlorinated products, partially offset by lower PVC sales volume. The higher international prices of ethylene, which fluctuated and reached even 34% in the quarter, and also of increased price of natural gas that moved in line with Brent crude prices throughout the quarter. This was partially offset by a favorable real versus EUR exchange rate effect and by the improved technical coefficients in Cubatão resulting from the implementation of the new technology. Compared to the second quarter of last year, the increase was 8% more, driven by higher sales in all business segments, as previously mentioned, and by increases in international prices of ethylene and natural gas, which were partially offset by the appreciation of real against the EUR and by better technical efficiency in Cubatão, as observed in this quarter. Moving to slide eight, we have the quarterly comparisons between recurring EBITDA. In a comparison of the second quarter of 2026 against the first quarter of 2026, the immediate prior quarter, the growth was 177%, driven by higher sales of chlorinated products and caustic soda, and higher international prices for PVC and caustic soda, which more than offset the increases in input prices and the drop in PVC sales. Compared to the same quarter last year, growth was 31%, reflecting the higher international PVC prices, which offset the higher cost of inputs and the adverse effects of the real appreciation against the USD, the higher sales volumes in all business segments, and also the recurring reductions in fixed costs. This point is particularly relevant because it reflects a series of initiatives implemented by Unipar, including automation, organizational redesign, and process improvements. These are gains that are likely to be seen in the future. On the next slide, we show the evolution of our net debt balance. We experienced a reduction of BRL 78 million from the end of March to the end of June, resulting from the solid operational cash generation and also of the more normalized level of our strategic CapEx. We also had the average cost of our debt that, as I mentioned previously, we consider to be very competitive, the reduction in income tax and social contribution payments from the moment we began the accelerated tax depreciation on the strategic CapEx that we have deployed, the main of which was Cubatão project. On slide 10, we see our debt profile, which shows the terms and costs that reflect our financial discipline. Our cash position ended the quarter at BRL 1.4 billion, BRL 375 million, sufficient to cover 34 months of debt amortization. Our average maturity reached 67 months with debt at an average cost of CDI plus 0.40% per annum. Our leverage ended the quarter at 2.5x, a reduction compared to the previous quarter. In terms of composition, our debt is predominantly comprised of debentures and development bank financing, reflecting our strong access to capital markets the long-term funding sources that support the strategic CapEx projects already implemented. We only have a 5% share with commercial banks, we have nevertheless maintained active and available lines of credit with them. We maintain a strong cash position as a liquidity buffer to cover potential financial needs. Thank you all. I'll hand over to Cannaval, who will comment on our strategic projects, then I'll return to the Q&A session. Thank you. Good afternoon. Thank you, Alexandre, for presenting the results. I appreciate the presence of everyone who is joining us in this conference. Before we open for the questions, I'd like to highlight some points that reinforce the evolution of our strategy this quarter. One of the main highlights was the consolidation of the technological modernization of the Cubatão plant. We have completed all the startup steps have been operating at full capacity since April. With the completion of the project, we expanded our operational reliability, reduced input consumption, also we reduced the emission intensity, further strengthening the competitiveness of our operation. We also made progress in Camaçari, where we completed the phase 2 of our factory with a project focused on chlorine liquefaction and purification. This initiative expands our commercial flexibility by offering a higher value-added product specifically for the agribusiness sector. This strengthens our performance in a strategic market. At the same time, we continue to evolve in the structural projects of Santo André with expansion of chlorine production capacity the increase in the PVC emulsion capacity. We are on schedule to close out 2026 with a product offering higher added value and operational flexibility. In Argentina, we continue to manage our assets with a focus on consolidated performance, prioritizing operational stability, integrated industrial and commercial alignment with our Brazilian plants. In conclusion, I reiterate that our priority remains strengthening the company's competitiveness through operational excellence and continuous improvement of technical metrics, always prioritizing operational safety placing customer care at the heart of our decisions. We have maintained the discipline of preserving our financial health, supported by resilient operating cash flow generation an active management of liquidity and debt profile. This discipline has allowed us to navigate different market cycles continue investing in strategic and structuring projects while maintaining our long-term vision. This quarter's result demonstrate the successful execution of our strategy. Thank you very much. I will now hand the floor over to Raquel, who will conduct our question- and- answer session. Over to you, Raquel. Good afternoon. Good afternoon, Unipar's team. Thank you for the opportunity of asking question. I would like to have an update of the dynamics of the sector. If you could share how the prices evolved, how the spreads evolved along the quarter up to the moment, and what is the current scenario. In addition to that, I would like to understand how you see the demand. Has anything changed since the beginning of the conflict? If so, has it already normalized, or did it move to a different level? Thank you. Enzo, good afternoon. This is Jerussalmy. Just a second, because I can hear some echo. We are so sorry for the technical problem. Good afternoon, everyone, again. We are going to talk about the dynamics of the sector. This is Jerussalmy speaking. As we saw in this quarter, we saw some level of instability, fluctuations of prices at the global level for PVC and caustic soda. The international reference of those two product at the global level increased quite a bit. Especially in the mid of the second quarter, we saw a peak in prices both of caustic soda and PVC. At the end of the quarter, we saw a level of normalization, but at a higher level than was the international average price of this year. From the viewpoint of prices, what we have seen so far is the maintenance of those prices, and this is public information. The prices are higher than what we saw in the first quarter of last year. In terms of demand, from the viewpoint of caustic soda in Brazil, the demand continues to be normalized, and at some times it's even heated. This is due to the expansion that we have in application of caustic soda that includes pulp and paper, hygiene and cleaning, cleanliness, water. There are different applications which are very related to the economic movement that we see in Brazil. The demand has been quite resilient. In the case of PVC, what we have seen is that the demand oftentimes varies from one month to the other. Generally speaking, it's a demand that has been kept in line with what our team has been projected in terms of market dynamics. In the viewpoint of the local interest rates, and considering the income tax of other places, it makes the global demand of PVC is not favored from the viewpoint of interest rate. What we have seen is that the demand in Brazil is quite resilient for PVC. For chlorine-derived products, we have pricing dynamics, which is totally different, which is much more local, much more focused on the local demand. It has a pricing logic which is local and has nothing to do with the petrochemical cycle. This is what we have been saying. We have been focusing on increasing the flexibility of the company so that we can have a chlorine allocation that can be very flexible and ever more flexible. In comparison to PVC and chlorine products, we see that the company can become more resilient with the ups and down of the petrochemical sector. What we have seen along the time is that the PVC demand of chlorine products and the pricing of local definitions has been very important for the profitability of the company. The company's margin has been, I'm talking about the recurring EBITDA margin, has been consistently differentiated in relation to global peers. This is a result of the mix that we have between caustic soda, PVC, Brazil, Argentina, and especially the chlorine-derived products. We follow this line of making the company ever more flexible and resilient so that we can have this integrated management between Brazil and Argentina favoring our profitability, we're always in search of healthy margins, as we have seen so far and how we have been trying to use and apply. Super clear. Jerussalmy, thank you very much. Our next question comes from Nicole Alonso with Santander. Nicole, you may proceed. Good afternoon, Cannaval, Jerussalmy, Raquel. Thank you very much for the space of asking questions. I would like to ask two questions. First, in relation to PVC. How do you see the import parity in Brazil and the pressure from imported product? We saw the SECEX data in relation to imports, especially from Egypt, in terms of cash generation and allocation of capital. What's the CapEx expectation for 2026 and 2027 in a scenario where the market may be normalized? Where do you see the leverage for the end of 2026? Does it make sense to discuss the possibility of distributing dividends? Thank you. Thank you very much for the question. I'm going to start from cash generation, then Cannaval will provide clarifications on the PVC and the pressure from imported products in relation to CapEx. What can we expect for 2026 and 2027? We can expect a normalization of our expenditures, our CapEx. We ended a CapEx cycle, which was very important at the company. If you remember, in 2025, we had a total CapEx of about BRL 1.1 billion. In 2024, we had something of around BRL 700 million, and in 2023, it was about BRL 400 million. In the past three years, we had a very important cycle, a major cycle of CapEx, considering Unipar's history track. For 2026, we expect a normalization. This normalization, we expect to be around BRL 500 million-BRL 600 million. This is a number that can be expected. For 2027, we believe it's still early to talk about CapEx for 2027, but we can expect is a normalized level, nothing compared to what we saw last year. In terms of leverage, this is one of the priorities of the company, right, Nicole? We managed to deleverage from the first quarter to the second quarter, this is one of the focus of the company for the end of 2026, in the sense that we are going to use this operating cash generation and take advantage of the lower payment of income tax and social contribution, also use this CapEx normalization period and also the variation of working capital, which is something that we actively monitor. We can also expect some sort of optimization in relation to cash by means of variation of working capital. This is one of the focuses. This is one of our priorities. The relationship of this and the dividend is that our dividend policy remains the same, which is the distribution of 25% based on the net result of the year. Anything above that will be discussed internally in terms of liquidity and debt profile and also leverage level. It's still early to provide any guidance or any information related to this, but this is closely connected to the level of leverage. Nicole, in relation to the question about the PVC and the market, well, this global market, the global level has been affected by the conflict in the Middle East, which affected prices and also production level. If you look at Brazil, the level of imported products continue to be increasing. What is different is the origin, considering the new global dynamics. There's a reduction of U.S. products, but there is a replacement by products from Egypt. On average, the situation is stable. The long-term competitive dynamics will depend on how we look at the tariffs and protections of the countries. Last week, new tariffs were imposed on PVC in Europe for different reasons. It's a dynamic that it's uncertain, but somehow very dynamic for the coming months and the coming years. Thank you very much for your question. We received a question by Pedro Carvalho with Trígono Capital. He asks in relation to the chlorinated products market, Jerussalmy has already touched upon that. He also talks about the utilization rate and what is the level that we can expect after the ramp-up of Cubatão. Thank you, Pedro, for your question. I would say that one of the quality of the results of Unipar in the second quarter came from the quick consolidation of Cubatão plant. In a very short time, we reached the necessary capacity. In fact, we are ready in the level of normalization since the second quarter, which was a good contributor to this excellent result that we posted in the period. Thank you, Cannaval. Just a moment for us to collect new questions. If there are no further questions, we'd like to turn the floor back to Cannaval. Thank you, Raquel. Thank you everyone for attending this call. First of all, I would like to thank all the employees of Unipar for the excellent results by capturing new opportunities and also the operational aspect. As I said before, we quickly stabilized the production of a project whose dimension was very important for Unipar. Those actions and those investments surely are our lever of sustainability and results resilience for the next half of the year. Thank you all. Have an excellent weekend and Happy Father's Day.