B3 Sa Brasil Unsp/Adr

Good morning, ladies and gentlemen, and welcome to the B3 Earnings Results presentation for the first quarter of 2026, where André Milanese, B3 CFO, will discuss the results along Fernando Campos, Investor Relations Associate Director. We would like to inform you that all participants will be in a listen-only mode during the company's presentation. After the company's remarks are completed, there will be a question and answer section when further instructions will be given. As a reminder, this conference is being broadcast live via webcast. The replay will be available after the event is concluded.

Hello, Fernando Campos from B3's Investor Relations team, and I'm here with André Milanes, the company CFO, to comment on the results for the first quarter of 2026. To begin, André, could you provide an overview of the quarter, which was a strong quarter, with a positive scenario, and how the business model of the company could make the most of this important quarter for us?

Sure, Fernando. The first quarter was marked by a very, as you said, favorable environment for the Brazilian capital markets with increased volatility and a relevant inflow of foreign capital during the quarter. In this context, our business model once again demonstrated its ability to capture the opportunities of a positive scenario supported by a balanced combination of pro-cyclical revenues which directly benefit from increased activity and recurring revenues, which continued to deliver solid performance and more predictable results. As a result of that, B3 reached total revenue of R$ 3.2 billion in the first quarter of 26, representing a growth of 21% when compared to the first quarter of 25. And it was the highest quarterly revenue in the company's history. The group of pro-cyclical business composed of derivatives and equities increased 24%, while the group of recurring revenues grew 17% in the quarter. I'd also like to mention some additional highlights and records during the quarter. We recorded the highest average daily volume in the history of derivatives in March 26, with 16.6 million contracts, the highest average daily traded volume in equities for the last five years in February, 39.2 billion reais, We had 14 billion in follow-ons during the first quarter and growth of nearly 400,000 accounts in the equities depository over 12 months compared to March 25. These indicators reinforce the resilience and operating leverage of our business, which combines scale and diversification, allowing us to capture growth when the market heats up, while at the same time sustaining robust revenues across different cycles. Fernando will now provide more details on the operating performance of our main segments. Fernando?