YPF Sociedad Anonima

as we get closer to the event.

Thank you for standing by. My name is Danica, and I will be your conference operator today. At this time, I would like to welcome everyone to the YPF First Quarter 2025 Earnings Webcast presentation. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the call over to Margarita Chung, YPS Investor Relations Manager. Please go ahead.

Good morning, ladies and gentlemen. This is Margarita Chun, YPF IR Manager. Thank you for joining us today in our first quarter 2025 earnings call. Today's presentation will be conducted by our chairman and CEO, Mr. Horacio Marin, and our CFO, Mr. Federico Barretta-Vena. During the presentation, we will go through the main aspects and events that explain the quarter results, and then we will open the floor for Q&A session together with our management. Before we begin, please consider our cautionary statement on slide two. Our remarks today and answer to our questions may include forward-looking statements, which are subject to risk and uncertainties that could cause actual results to be materially different from the expectations contemplated by these remarks. Our financial figures are stated in accordance with IFRS, but during the presentation, we might discuss some non-IFRS measures, such as adjusted VTA. Finally, according to the relevant facts released last December, as from 2025, the new business structure of YPF is in place. The main changes are as follows. First, we split gas and power segments into two segments, LNG and integrated gas, and new energies. Second, we renamed downstream segment as midstream and downstream. And third, we reallocated our midstream gas business that used to be in gas and power segment to midstream and downstream segment. You can find further details on the backup slide of this presentation. I will now turn the call over to Horacio. Please go ahead.