TIM S.A.

Good morning, ladies and gentlemen. Welcome to Team S.A. 2026 second quarter results video conference call. We would like to inform you that this event is being recorded and all the participants will be in listen-only mode during the company's presentation. There will be a replay for this call on the company's website. After Team S.A. remarks are completed, there will be a question and answer session for participants. At that time, further instructions will be given.

Welcome to Tim's second quarter 2026 results presentation. Following today's presentation, Alberto Griselli, CEO, Andrea Viegas, CFO, and the investor relations team will be available for the live Q&A session. Before we begin, please note that this presentation may contain forward-looking statements, which are subject to risks and uncertainties. And now, I'll hand it over to Alberto.

Hello everyone. The second quarter was marked by solid execution. We deliver revenue growth, profitability expansion and cash generation in a balanced way while continuing to diversify our revenue profile and strengthen our operation. As our growth avenues diversify, we increase the resilience of the business and develop a sustainable path for value creation to our shareholders. Let me walk you through the main highlights. Revenue continues to show a consistent dynamic, approaching 7 billion reais in the quarter, with service revenues maintaining a solid pace. In the first half of the year, service revenues increased around 6%, reflecting broader contributions across the business. This performance was accompanied by further profitability gains, a bid that grew around 7% in the first half, while a bid after lease increased close to 8%, supported by operational efficiency, cost discipline, and continued margin expansion. Net income surpassed 1 billion reais in the quarter, increasing around 6% year over year. In the first half, net income also grew despite a more challenging comparison base for the lines below EBITDA. Cash generation remained strong. Operating cash flow surpassed 3 billion reais in the first half, growing at a double-digit pace and reinforcing the consistency of our cash generation. Looking to the different areas of the business, we saw solid performance from our key growth platform, with mobile remaining, of course, as the foundation of our performance, while ultra-fibra and B2B playing an increasingly more important role in our business evolution. In mobile, results were supported by continued post-paid expansion, which now represents close to 70% of mobile service revenues. This reinforces a higher value and more resilient customer base. During the first half, we focused on building a more dynamic and segmented portfolio allowing us to better address customer needs while creating additional monetization opportunities. This includes expanding the usage of credit cards as a payment method in annual and monthly options, materialized in team-controlled fit. This launch expands our addressable market through more flexible propositions, strengthening value perception and engagement. Our streaming proposition is also evolving following the launch of Teamplay, a content aggregation platform creating new opportunities for monetization while increasing customer stickiness. In financial services, the partnership with PicPay represents another step in expanding our digital ecosystem and creating cross-selling opportunities through an integrated customer journey. In broadband, Ultrafibra maintains positive momentum, with customer expansion and consistent revenue growth, strengthening its relevance within our portfolio. To propel this further, we just launched Team Ultracombo, our first truly convergent offer. It combines fiber, mobile, and content to strengthen our value proposition in selected markets, enabling teams to target new pockets of growth while supporting LTV-oriented actions. In B2B, we continue to build a strategic growth platform. Revenue is expanding and gaining relevance, now representing around 7% of our service revenues. At the same time, we are advancing beyond connectivity, with progress in IoT, private networks and digital solutions. At the same time, artificial intelligence remains an important enabler of our transformation journey and a key lever for efficiency gains. One example is collections, where artificial intelligence supports more proactive and personalized interactions with customers in depth collection and negotiating processes. Early results are encouraging, with more than 2 million customers engaged and a meaningful improvement in recovery rates through the artificial intelligence agents. Together, these initiatives reinforce the evolution of team business, supported by disciplined growth, a broader set of revenue drivers, and consistent execution. We also continue to strengthen the foundation of the company through our culture, recognized by Great Place to Work, and through solid governance practices. Thank you. And now let's move to the live Q&A session.