Gerdau S.A.

Good morning and welcome to Gerdau's third quarter 2025 earnings release presentation. I'm Mariana Dutra, Head of Investor Relations, and joining us on this conference call today are CEO Gustavo Wernecki and our CFO Rafael Japor. This call is being simultaneously translated into English, and you can choose your preferred language by clicking on the globe icon at the bottom of the screen. During this presentation, all participants will be in listen-only mode, and next we will start the Q&A session. Analysts and investors can join the queue by clicking on the raise hand button. It is worth noting that the forward-looking statements contained herein are based on the company's beliefs and assumptions based on information currently available. Forward-looking statements are no guarantees of future performance and are subject to circumstances that may or may not occur. So now, with no further ado, I would like to turn the floor over to Gustavo to begin the presentation.

Thank you, Mari.

And good morning, everyone. Well, by the way, it's afternoon because it's past noon, past midday. I hope you're all well, and I really appreciate the opportunity to be together for another earnings release presentation. I will briefly comment on the highlights for the quarter and the outlook for our operations. And right after that, we will follow up with a Q&A session. I would like to start by highlighting that we had a quarter marked by different dynamics in the main regions where we operate, North America and Brazil. We ended the third quarter of 2025 with a very solid performance in North America, reflecting fairly resilient demand for steel in the domestic market. The reduction in imports contributed to an increase in total shipments in both quarterly and annual comparison, reaching more than 10% increase. In addition, once again, the North America segment had a record share in our results, accounting for 65% of consolidated EBITDA in the period. Meanwhile, in Brazil, in Q3, the local market continued to be heavily impacted by the excessive influx of imported steel. The import penetration rate remains above 6 million tons in 2025, which accounts for 29% of domestic sales, reinforcing the urgent need for measures that can effectively protect the Brazilian steel industry and domestic jobs. Given this landscape, I would highlight the internationalization and geographic diversification as important strategic differentiators for our business. And finally, I would also like to highlight the progress of the sustainable mining project in Miguel Bonaire, which has reached 90% physical completion. Equipment commissioning and hot testing has already begun, and the integrated operation of the project is scheduled to start in early 2026. I will now turn the floor to Japur who will give us more details on the financial highlights and the impacts of the current scenario in the Brazilian market in our results. Over to you, Japur.