Telefonica Brasil S.A.

Good morning, ladies and gentlemen. Welcome to Vigo's second quarter 2026 earnings call. This conference is being recorded and the replay will be available at the company's website at ri.telefonica.com.br. The presentation will also be available for download. This call is also available in Portuguese. To access, you can press the globe icon on the lower right side of your Zoom screen and then choose to enter the Portuguese room. After that, select Mute Original Audio. Para acessar nossa conferência em português, clique no ícone do globo ao lado inferior direito da sua tela Zoom e selecione a opção Portuguese Room. Ao acessar a nova sala, certifique-se de mutar o áudio original. We would like to inform that all attendees will only be listening the conference during the presentation and then we will start the questions and answers section when further instructions will be provided. Before proceeding, we would like to clarify that any statements that may be made during this conference call regarding the company's business prospects Operational and financial projections and goals are the beliefs and assumptions of Vibus' executive board and the current information available to the company. These statements may involve risks and uncertainties as they relate to future events and therefore depend on circumstances that may or may not occur. Investors should be aware of events related to the macroeconomic scenario The industry and other factors that could cause results to differ materially from those expressed in the respective forward-looking statements. Present at this conference, we have Mr. Christian Gebara, CEO of the company, Mr. Rodrigo Monari, CFO and Investor Relations Officer, and Mr. João Pedro Soares Carneiro, IR Director. Now, I will turn the conference over to Mr. João Pedro Soares Carneiro, Investor Relations Director of Vivo. Mr. Carneiro, you may begin your conference.

Good morning, everyone, and welcome to Vivo's second quarter 2026 earnings call. Today, our CEO, Christian Gebara, will present Vivo's ongoing execution in connectivity and new businesses, as well as share our key ESG highlights for the quarter. Then, Rodrigo Monari, our CFO, will give you more color on cost evolution, cash generation, profitability, and shareholder distribution going forward. With that, let me turn the call over to Christian.

Thank you, João. Good morning, everyone, and thank you for joining us today. Building on the positive performance from the beginning of the year, Vivo delivered another quarter of solid execution combining healthy operational and financial trends. These numbers demonstrate the strength of our business model, the quality of our customer base, and the consistency of our strategy within a dynamic environment. Customer engagement remains at the center of our growth story. In mobile, we kept adding customers with postpaid access at 73.2 million, up 6.9% year-over-year. In fiber, homes-connected, Richard 8.2 million, advancing 11.3% year-over-year, while our footprint expanded to 32 million of past. These accomplishments reflect our sustained commercial momentum, supported by the attractiveness of our value proposition and customer recognition of the quality and differentiation we deliver. Financially, total revenue increased above inflation once again, Up 7.6% year-over-year. Mobile service revenues advanced 6.6%, while fixed revenues grew 6%, highlighting the improvement of fiber and the positive contribution of our B2B operations. Profitability continues to outpace revenue growth. EBITDA advanced 10.9% year-over-year, with a margin of 41.8%. In the first half of the year, operating cash flow totaled $8.2 billion. While net income rose 17.9% to 2.8 billion reais. Free cash flow generation reached 4.9 billion reais, underscoring the strength of our cash generation capabilities. Our operation excellence and financial discipline support attractive shareholder returns. Year-to-date, we declared 2.2 billion reais in interest on capital to be paid by April of 2027, or before. We present an evolution of 34.5% versus the same period last year, and remain fully committed to our shareholder remuneration guidance for this year. On slide 4, the benefits of our diversified ecosystem are becoming closely evident. Supporting growth across connectivity, digital services and the sale of handsets and electronics. Total revenues increased 7.6% every year in the quarter, reflecting balanced contributions across our top line. Mobile service revenues advanced 6.6%, while FTTH revenues delivered an even stronger performance of 10.7%. Another highlight was the handset and electronic segment that soared 27.8% year-over-year, marking its highest annual evolution in five years. This performance reflects the success of our commercial initiatives and the growing relevance of Vivo as a destination for customer technology products. As our ecosystem expands, the quality and predictability of revenues keep improving. Recurring revenues attain 84.8% of service revenues, extending a positive trend that has consistently strengthened over recent quarters. This evolution further reinforces the resilience of our business model and the sustainability of our trajectory. Turning to slide five, our mobile operation stands out through its ability to combine customer growth, monetization, and retention. Total mobile bays increased 2.6% year-over-year as postpaid access rose 7.3%, reaching 52.4 million customers, while machine-to-machine and dangos grew 6.1%, reinforcing our leadership across multiple mobile segments. Commercial activity remained solid, with postpaid ineditions rising 14.1% euro per year. This performance confirms Vivo's competitiveness and attractiveness of our offers. At the same time, we remain focused on successfully executing our more-for-more strategy. Mobile ARPO reached a new high of R$ 32.5, with post-paid churn at stable levels of only 1%. Notably, even after recent price adjustments, customer loyalty remained unchanged, Reflecting our superior network and service excellence. The evolution of 5G is an important part of the story. Today, nearly one-third of our mobile base, excluding machine-to-machine and dungos, uses 5G every day. As usage continues to ramp up, we are further enhancing customer experience while creating new opportunities to deepen engagement and support future revenue expansions. Overall, these results underscore the resilience and monetization potential of our mobile platform. The combination of post-paid expansion, record ARPU, resilient turn levels, and growing 5G adoption demonstrate how Vivo is creating a solid foundation for ongoing profitable growth. On slide 6, we illustrate how scale, quality, and convergence understand Vivo's ability to raise the bar in the fiber market. We closed the quarter with 8.2 million fiber access, an increase of 11.2% year-over-year. Once again, convergence was the key driver of this performance. Vivo Total reached 3.8 million customers, up 29.4% compared to last year, and further increasing its relevance within our fiber base. This reinforces a trend that we have seen for several quarters. Customers increase clean demand integrated solutions that unite connectivity, convenience, and superior experience. Beyond growth, our customer base profile remains a clear differentiator. Fiber churn declined to just 1.4%, reaching historically low levels and reflecting the depth of our customer relationships, as well as the trust in the services we deliver. This high level of loyalty supports the long-term sustainability of our fiber business and contributes to stronger lifetime value generation. Commercial momentum also remained healthy throughout the period. FTTH net additions reached 213,000 access, 6% higher than a year ago. At the same time, we have continued to expand our footprint with both speed and discipline. Hobbs passed, reached 32 million, while take-up improved to 25.6%. This pattern of network expansion and rise in penetration confirms that we are successfully converting infrastructure investments into profitable customer growth. Moving to slide 7, we continue to see the benefits of our strategy to expand beyond connectivity and build a distinguished ecosystem capable of serving a broader range of customer needs. This approach is translating into consistent growth and stronger monetization. On a last 12-month basis, B2C revenues reached R$ 46.6 billion, advancing 6.8% year-over-year. This performance reflects both the resilience of our connectivity business and the accelerating contribution of new business revenues that expanded 33.6% versus last year. The sustainability of this growth is reflected in customer monetization. B2C revenue per RGU reached 68.5 reais per month, continuing the upward trend observed over the past several quarters. As customers adopt more products and services within the Vivo platform, we strengthen engagement and deepen the relationship with our more than 56 million clients. New business endures as one of the most dynamic components of our portfolio. Consumer electronics revenues increased 63.8%, health and wellness advanced 58.2%, theater and music OTTs grew 25.7%, and financial services expanded 12.8%. Together, these businesses now represent 3.4% of total revenues. Innovation also remains an important differentiator. During the quarter, we reinforced Vivo's position as a leading digital hub by introducing exclusive benefits related to Gemini AI and Google Cloud Storage for eligible customers. In addition, we expanded the attractiveness of our offers through partnerships such as YouTube Premium, providing customers with a richer digital experience and further increasing the relevance of our plans. Through tailored offerings, Digital innovation and growing portfolio of services will strengthen customer lifetime value and create new avenues for future expansion. Turning to slide eight, our B2B business continues to demonstrate the strength of Vivo's strategy to evolve from a connectivity provider into a trusted technology partner for enterprise accords across multiple industries. B2B revenues reached 13.9 billion reais on a last 12 month basis, up 9.2% year over year. Digital B2B remained the main growth vector, advancing 14.9% while connectivity revenues rose 5.8%. Looking at the portfolio, cloud services continue to lead performance with 20.9% growth. Digital solutions increased 20.2%, cybersecurity advanced 10%, and IoT and messaging grew 1% year over year. What stands out is not only the performance itself, but also the breadth of our capabilities. Today, enterprises seek partners capable of delivering tailored end-to-end solutions rather than isolated products. This trend continues to expand vivus opportunities across both private and public sectors. A good example of this approach is our recent partnership with Eco Rodovias to expand mobile coverage along 400 kilometers of highways in Goiás and Minas Gerais, benefiting approximately 1.4 million people. Beyond enhancing connectivity, projects like this highlight Vivo's ability to develop customized initiatives that create value for customers and society. On slide 9, We highlight the continued advancement of our ESG agenda through initiatives that generate measurable impact and recognition from leading institutions. On the environmental front, we continue to expand programs that combine education, awareness, and circular economy principles. Through the third edition of Vivo Recycling, aligned with Vivo's Volunteer Day, we promoted environmental education and electronic waste Thank you very much. 100% of our packaging is now recyclable across all Brazilian states, exceeding our original target by 66 percentage points. In parallel, the Floresta Futuro Vivo progressed with the planting of its first seedlings in the engagement of local communities, reinforcing our commitment to regeneration and biodiversity preservation. From a governance perspective, Vivo was awarded These achievements were complemented by several recognitions, including being named the best ESG company in the sector by Isami. for the third consecutive year and ranking first in indicating top companies in São Paulo. We also surpassed our 2025 gender and racial diversity targets under the UN Global Compact Brazil's Ambition 2013 initiative. With that, I would like to hand over to Rodrigo, who will walk you through our financial results. Thank you.