Becle, S.A.B. de C.V.

Good morning, and thank you for joining Beckler's second quarter on Audited Financial Results Call. During this call, you may hear certain forward-looking statements. These statements may relate to our future prospects, developments, and business strategies, and may be identified by our use of terms and phrases such as anticipate, believe, could, estimate, expect, intend, and similar terms and phrases, and may include references to assumptions. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the future, by their nature they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those in forward-looking statements. Before we begin, we would like to remind you that the figures discussed on this call were prepared in accordance with International Financial Reporting Standards, or IFRS, and published in the Mexican Stock Exchange. The information for the second quarter of 2026 is preliminary, and is provided with the understanding that, once financial statements are available, updated information will be shared in the appropriate electronic formats. At this time, we would like to remind participants that your lines will be in listen-only mode until the question-and-answer session. Now, I will pass the call on to Beclet's CEO, Mr. Juan Domingo Beckmann.

Juan Domingo Beckmann Good morning, everyone, and thank you for joining us today to discuss Beclet's second quarter 2026 results. The global spirits landscape continue to face headwinds in the second quarter and throughout the first half of the year. Despite an increasingly cautious consumer and competitive environment, the resilience of our business and our core tequila category reinforce our confidence in the fundamental strength of our brand portfolio and business model. Encouraging signs of recovery in the U.S., coupled with sustained momentum in Mexico and the rest of the world, Thank you very much. Thank you very much. Our focus remains on the strength of our brands and disciplined execution across every region and market as we continue to construct long-term profitable growth. With that, I will turn it over to Mauricio Vergara to walk us through our U.S. and Canada results in greater detail.

Thank you, Juan, and good morning, everyone. During the second quarter, our performance in the U.S. and Canada region continued to reflect the transition we outlined at the start of the year, driven by the execution of our distributor realignment strategy and the deliberate reduction of inventory levels following the build at the end of 2025. While reported results remained soft, they were in line with our expectations, and we delivered sequential improvement versus the first quarter, reinforcing our confidence that the business is moving in the right direction. Shipments declined 8.7% during the quarter, reflecting both the ongoing distribution transition and continued inventory reductions. As we have previously highlighted, shipments are not fully representative of the underlying demand in this environment. Depletions provide a clearer view of performance, declining 4.7% overall. This continues to reflect the divergence between transition and non-transition markets. With non-transition markets declining approximately 3.7%, while transition markets declined approximately 8.4%. I would emphasize that our non-transition markets are performing better than the overall category where our route to market is stable, demand for our brands remains healthy, and the distinction remains critical to understand the underlying performance of our business. From a category standpoint, Pressure on full-strength spirits persisted during the quarter, as prepared cocktails remained the primary driver of industry growth and the gap between demand for ready-to-drink formats on full-strength spirits continues to widen. According to SeedSource data, through May, full-strength spirits' depletions declined 5.5%, with tequila down 4.7%. While tequila is not immune to the broader slowdown, It remains one of the most resilient categories and continues to outperform the broader full strength spirits market. Within our portfolio, we continue to see clear pockets of growth reflecting our strategic bets. RTDs delivered another quarter of double digit growth, supported by increased focus and investment. This reinforces our confidence that participating in the right consumer occasions for innovation in this category is the right strategy. Our core portfolio essentially held its ground through a structural shift in the market. The ultra-premium segment also continues to grow strongly and is increasingly supporting our mixed-acid scales. Turning to consumer takeaway, Nielsen data through June 20th shows Proximo Tequila volumes declined 6.6% against an industry that declined 4.1%, while our spirit volumes excluding prepared cocktails declined 7.5% versus a 5.4 decline for the broader market. When we isolate the markets least affected by the transition, the underlying strength of our brands becomes much clearer. In the control states, NAPCA, which are the most reflective of true consumer pool, we have now delivered six consecutive months of share growth in total tequila. This gives us confidence that our strategy is working and that the pressure we are seeing is concentrated in the open markets Thank you for joining us. The environment remains highly competitive with continued pressure across categories as peers compete for share in a slowing market. Our strategic price positioning remains unchanged. We are using targeted tactical promotional activity and short-term pricing adjustments to remain competitive while protecting long-term brand equity and value perception. At the same time, we continue to invest behind our brands at one of the highest rates in the industry. Being increasingly selective about where we deploy those resources to protect our core. Looking ahead, we remain focused on disciplined execution and we expect our performance to improve as the transition moves behind us. While the industry environment remains challenging, the steps we're taking today are strengthening our commercial foundation and positioning the business for sustainable long-term growth. I will now turn the call over to Olga Limon to discuss the Mexico and Latin America results.