TIM S.A.

Good morning, ladies and gentlemen. Welcome to GNS8 2025 Second Quarter Results video conference call. We would like to inform you that this event is being recorded and all participants will be in listening mode during the company's presentation. There will be a replay for this call on the company's website. After GNS8 remarks are completed, there will be a Q&A section for participants. At that time, further instructions will be given.

Hello and welcome to our earnings conference for the second quarter of 2025. I'm Vicente Ferreira, Investor Relations Officer of Team Brazil. This video highlights our recent performance and how we see the market evolving in the first half of the year. After that, we will have a live Q&A with our CEO Alberto Grizzelli and our CFO Andrea Viegas. Please note that management may make forward-looking statements. In this presentation may contain them. Refer to the disclaimer on the screen and on our Investor Relations website. Now, let's review our results.

Hello everyone, I'm Alberto Griselli, CEO of Team Brazil. The first half of 2025 has been marked by strong execution and clear strategic vision, driving solid financial and operational results. Service revenues grew by 5.4% year over year, supported by mobile services, while EBITDA increased by 6.5%, reflecting improved profitability with a 49.5% margin. Operating cash flow expanded significantly while we maintained our commitment ramping up distribution to shareholders. We continue to lead in 5G technology, which allows us to offload traffic from 4G. Today, 30% of traffic flows via our 5G network. Additionally, TIM was recognized as the most sustainable Brazilian company, topping the B3 Sustainability Index. Global volatility has increased by end of the semester, but we march forward implementing our strategic initiatives. Network modernization accelerates with new regions, partnerships expand and new revenue opportunities are developed. we are on track to meet our 2025 targets. As I mentioned, our service revenues evolution is driven by mobile. In Q2, total service revenue grew 5.1% year on year, while mobile sustaining a faster pace at 5.6%. Team strategy to combine volume and value initiatives through offer innovation and rational commercial approach is working. as the company boasts the highest mobile ARPO in the industry at close to 33 reais per month, expanding at mid-single digits. At the same time, we added more than 450,000 new postpaid customers in the second quarter. Postpaid services have increased in importance with a penetration rate close to 70% of mobile service revenues. confirming the shift towards more stable and higher-value customer segments. It's been 14 consecutive quarters of rapid postpaid revenue expansion. In quarter two, we maintained the double-digit pace, closing the first half with 12.2% year-over-year growth. Again, a combination of solid output dynamics held by control to pure post-paid upselling and healthy customer base trends with low churn levels and free to post migrations. In the first quarter, we introduced the concept of 360° presence in specific markets. São Paulo was the first and now we are expanding this approach to other regions of the country. Under this project, we work with Tripod, Network, Brand and Channels, aiming to translate our network leadership into changes in customer experience and perception. In Sao Paulo, we have completed the modernization of half of the sites we committed to, already benefiting nearly 250 cities and approximately 10 million people. The network swap improves coverage, capacity, and reduces energy consumption. Following this implementation, we expanded our overall download speed leadership versus our peers, and for the first time we became leaders in 5G as well. Speed without coverage is not enough. That's why our coverage leadership comes first, followed by capacity to improve throughput. Minas is next. There, we double the number of cities with 5G, benefiting around 10 million people as well. Commercial presence is expanded with 13 new stores in 2025, including one flagship location. Changing gears to new revenue streams. Our B2B IoT strategy is performing well. We have seen substantial growth in contractor revenues, particularly in agribusiness, utilities and logistics. Specifically, in the last vertical, we are consolidating our leadership amid an increasing interest from our peers in these projects. We expect that the sector can maintain a rational approach as we have seen in traditional mobile. As pioneers in bringing digital connectivity to Brazilian highways, we have reached about 7,000 km of roads covered. Almost half of those are in partnership with large logistics players such as Way and Ecorodovias. It's worth highlighting that we are starting to move up in the value chain, adding solutions to our connectivity. Video monitoring and specialized road lighting are now part of our portfolio. PIM is committed to providing integrated solutions that enhance operational efficiency for clients in various sectors. Further developing the B2B IoT opportunity, we will expand our addressable market and open new avenues for growth. With similar goals, our digital ecosystem continues to expand. Our collaboration with Electrobras is materializing as we launch the first two markets with energy sales to corporate clients. Nationwide expansion is expected by September. Under this partnership, we are offering to high voltage clients up to 30% discounts on their energy bills, targeting approximately 2 million customers. Sales will leverage team existing SME agents. Additionally, our 5G fund is bearing fruit. This technology-driven investment is performing well as investees grow their business and improve their valuation, contributing positively to the fund's performance. A new investment is on the way. A financial service company named Cata Investimentos is the fund's fourth investee. They are developing and delivering financial solutions through a credit-as-a-service model facilitating access to capital and reducing the dependence of traditional banks. Moving ahead to infrastructure, I would like to recap how PIM is leading the way in 5G development in the country. It's been three years since we began rolling out the technology that would change the way we view investments in the telecom sector. Today we cover 70% of the urban population and we are number one in cities with 5G. The rapid expansion of our coverage has helped the number of 5G devices to grow fivefold since 2022 and now it represents 28% of total devices. This pairing availability plus adoption is playing a major role in enabling traffic to shift from 4G to 5G. In state capitals, 5G accounts for 30% of data traffic, and in São Paulo, offload is at 36%. Customers spend over half of their time on 5G networks, reflecting strong adoption. Thanks to this scenario and 5G lower cost per gigabit, just 30% of 4G, GIM is using its resources more efficiently. Another technology is also a key driver of operational efficiency and cost savings. Artificial intelligence is at the center of present and future opportunities to improve productivity. The company has mapped 100 use cases, prioritized 56 for strategic fit and value, piloted 24, and executed 7 projects focused on operational improvements. Most pilots target cost efficiency, with some addressing commercial opportunities. Six new projects are scheduled for development in the second half of 2025. This structured IEI pipeline demonstrates the team's commitment to leverage advanced technology and innovation to optimize operations and enhance business performance. Now let's move on to the financial details with our CFO Andrea.