Brava Energia S A S/Adr

Boa tarde a todos! Sejam bem-vindos à conferência de resultados da Brava Energia, referente ao segundo trimestre de 2026. A apresentação e os comentários sobre os resultados serão apresentados pelo diretor-presidente, Richard Kovacs, e pelos demais membros da diretoria estatutária. Destacamos que a ferramenta de tradução simultânea está disponível na plataforma. Para acessar, basta clicar no botão Interpretation na parte inferior da tela e escolher o idioma de preferência. This conference is being recorded and will be available on the company's website for investors, ri.bravenergia.com, as well as the presentation displayed here. We inform that all participants will be only listening to the conference during the presentation, and then we will start the Q&A session when more instructions are provided. Before proceeding, We would like to emphasize that the prospective statements are based on the beliefs and assumptions of the administration of Brave Energy and the current information available to the company. These statements can involve risks and uncertainties, given that they concern future events and therefore depend on circumstances that may or may not occur. Investors, analysts and journalists must take into account that events related to the macroeconomic environment, segments and other factors that can make the results materially different from those expressed in the respective prospective statements. We will start the presentation by passing the floor to Mr. Richard Kovacs. Please, Mr. Richard, you may proceed.

Good afternoon, everyone. Welcome to the second quarter of BRAVA's results call. I will start the presentation with the highlight slide. The second quarter was marked by a very positive combination of operational evolution and strong financial performance. We achieved an average production of 82,000 equivalent barrels, an increase of 8% in relation to the previous quarter, already exceeding the average recorded in 2025. This result mainly reflects the greatest contribution of offshore assets, combined with the gradual return of the production of the Potiguar Basin. In the financial sector, we recorded historical revenue and adjusted EBITDA records, driven by the largest volume of sales, best prices and strong performance in the downstream segment, which reached a historical margin in the quarter. We also continue to advance in our value generation agenda. The second quarter of 2026 marked the fifth consecutive quarter of the company's liquid debt reduction, accompanied by a continuous reduction in the cost of the debt. These marks add to the operational efficiency of our assets and the excellent execution of the drilling campaign, our main vector of organic growth for the coming quarters. In cost efficiency, we concluded in July the first phase of the BRAVA Efficient project, S A S A S A S A S A S A S A S A S A S A S A S A S A S A Now, moving on to operational highlights. This quarter demonstrated Brava's ability to simultaneously execute growth initiatives, increase efficiency and operational transformation. We have evolved in production stabilization. We have advanced in the offshore drilling campaign and we have inaugurated the Potiguar Integrated Operations Center, which represents a new level of control and management of onshore assets. As mentioned in the highlights, our average production reached 82,000 equivalent barrels per day in the quarter, maintaining the observed recovery trajectory since the beginning of the year. Growth was sustained mainly by offshore assets, with highlights for Atlanta, Papaterra and Parque das Conchas, adding to the gradual return of normalized levels of onshore production, with an increase in production in the Potiguar Basin. Thank you, Richard. Good afternoon.

I will be bringing here now some highlights from the Office of Operations Offshore. I will talk a little bit about the operation, but I will also bring some points related to our drilling campaign in Papaterra and also in Atlanta. Well, in terms of operation, we had a fairly stable quarter, both Papaterra and Atlanta, and also Peruá, with a very regular production. In Atlanta, we signed the so-called Final Completion, which means that we recognize the completeness of Topside. This is highlighted by the final commissioning of the two deckborders and the steam turbine as well. S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S A S Vindo para a Papaterra agora, a Papaterra também manteve a eficiência que a gente vinha observando nos últimos meses. Lembrando que a gente está em parada de produção programada em Papaterra, que começou no último dia 29. A parada está indo super bem, muito alinhada com o que a gente planejou. S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S S Bom, ainda falando de Papa Terra, e aí eu vou migrar um pouquinho para a campanha de poços, o desafio que a gente tem lá S A S A S A S A S A S A S A S A S A S S S S S S S S S S S S S S S S O O O O O O O O O O E por último, talvez mais importante, que é uma atividade que está acontecendo nessa parada, é a substituição dos trocadores de calor. Isso permite a operação dos poços 52 e 53, mas também mitiga um ponto importante de eficiência de Papa Terra. A S S S S S S S S S S S S S S S S Well, entering a little more of the campaign, the timeline that appears there on the screen, we, in March 26, arrived here, the Quasterista unit, Lone Star, arrived, and we, remembering a little bit, I already said in the last call, we made this perforation in battelada. It means that we perforated some phases in 52 and 53 for logistics optimization, equipment use, so today we have four perforated phases in PPT 53, and we went there, put the Christmas tree, made the temporary abandonment, and in 52 we have already completed the perforation phase and also completed the lower completion phase. We are now moving to the higher completion of this well, also absolutely in line with what we planned. S S S S S S S S S S S S S S S S S S S S S S Bom, a gente tem aí a previsão de primeiro óleo agora no segundo semestre, esse ano ainda a gente começa a produzir tanto 52 como 53, enquanto que em Atlanta a gente tem a previsão de início de produção no início, no primeiro semestre do ano que vem. Agora em outubro de 26 a sonda sai de Papa Terra e começa a operar lá em Atlanta. Well, guys, I'll stay here. Naturally, I'm available to answer your questions, as usual, and I'll pass the floor to Jorge Boeri, who will bring the highlights of the Onshore Operations Department. Thank you and see you soon.