Ultrapar Participacoes S.A. (New) American Depositary Shares (Each representing one Common Share)

Good morning.

Thank you for waiting. Please be welcome to our conference call, earnings release result of UltraPAR, for the first quarter of 2025. Our presentation will be conducted by Rodrigo Pessinato, CEO of UltraPAR, and by Alexandre Parrares, CFO of UltraPAR. The Q&A session will also have Mr. Décio Amaral, current CEO of Ultracargo and recently announced as the new CEO of Hidrovias. We also have Mr. Leonardo Linden, CEO of Ipranga, and Mr. Júlio Nogueira, CFO of Ultragas. This conference is being recorded and will be accessed through the website ri.ultra.com.br. After the presentation, we are going to start our Q&A session, and further instructions will be sent to you later. We'd also like to let you know that this earnings release call will be conducted in Portuguese, and there is an option for simultaneous translation. Click Interpretation. For those listening to the conference in English, there is the option of mute original audio. Our presentation will be shared in Portuguese, and there is going to be an English version to be downloaded from the website of the company and chat. Before moving on, we would like to clarify that forward-looking statements that may be made during this conference call with respect to business prospects, forecast, operational and financial goals of UltraPAR are all based on beliefs and assumptions of the executive board of the company, as well as currently available information. Forward-looking statements are no guarantee of performance. They involve risks, uncertainties and assumptions. as they relate to future events, and therefore depend on circumstances which may or may not occur. Investors should understand that general economic conditions, the market, and other operational factors may affect the future performance of UltraPAR and lead to results which may differ materially from those expressed in these forward-looking statements. I would like now to hand it over to Mr. Rodrigo Pissinato, who will start the presentation. Please, Mr. Piscinato, you may start.

Good morning, everyone. It is a pleasure to be here once more to talk about UltraPars results. And let's start with the main highlights of the quarter. We maintained ultrapar's robustness and the continuity of good results, despite the volatile scenario in the quarter. The fuel sector continued to be impacted by irregularities for tax evasion, such as not meeting the required biodiesel mix in diesel, or B14, and the increasing import of naphtha to be sold as gasoline. On the other hand, there are two important milestones in the fight against illegal activities. Starting in April, a new law for compliance with carbon tax collection abuse came into effect, with severe penalties for noncompliance. And it has just started in May the single-phase taxation of hydrated ethanol for piscofins, which contributes to fairer competitive conditions as well as increases government tax collection. Regarding Hidrovias, I want to highlight the strong performance in the first quarter of 25 due to improved navigability conditions and the advancements in the management and operation of the company's assets. We also made progress in Hidrovias' strategic agenda. In February, we signed an agreement for the sale of the cabotage operation in the amount of 715 million reais. its strategic focus and contributing to the reduction of financial leverage. It concluded the R$1.2 billion capital increase process, which will allow the continuity of its growth agenda, reduction in leverage, and generate value for shareholders. As a result of the capital increase, Ultrapar is now the controlling shareholder, with more than 50% stake in the company. It signals the confidence in its value creation potential, as well as consolidates our role as a long-term strategic shareholder. At Ultrapar, we raise a total of R$ 1.4 billion in debt, with a low average cost equivalent to 101% of the CDI. with the continuity of financing capacity expansions with development banks. Finally, we concluded Ultrapar's planned leadership succession with Marcos Lutz as the new chairman of the board. And in this process, I assume the position of CEO of Ultrapar and Alexandre Palhares assume the CFO and investor relations position. Well, thank you very much for your attention. I will now take it over to Alexandre, who will detail the quarterly results.