MercadoLibre, Inc.

Good day, and thank you for standing by. Welcome to the Mercado Libre earnings conference call. At this time, all participants are in a listen-only mode. Due to some technical issues, we will begin this call with the Q&A segment. After the Q&A, we will have the video available to play on this call. Thank you for your understanding. So, at this time, we will conduct the question and answer session, as I mentioned. Please limit your question to one per person. As a reminder, to ask a question, you will need to press star 1 1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1 1 again. One moment, please, while we compile the Q&A roster. Our first question comes from the line of Andrew Rubin from Morgan Stanley. Your line is now open.

Hey, great. Thanks very much for the question. I'm interested on the commerce take rate. It was a strong quarter. We see the increase of about 50 bps for the seller final value fees, about 60 bps on the shipping fees. I'm curious if you could dig in a bit further on both of those items. Was there any change in In your pricing policy, was it mixed? Anything maybe on the contra revenue line? Just trying to understand what drove the take rate expansion would be helpful.

Thank you. One moment, please.