Multiplan Empen Unsp/Adr

Welcome to the earnings call of the third quarter of 2025 of Multiplan. We have the executive board of the company here. We inform everyone that the presentation is available for download at the IR website of Multiplan. Before moving forward, anything that is stated during this teleconference regarding the business perspectives of the company projections and operational goals and financial goals are based on beliefs and premises of the Board of Directors of Multiplan, as well as information that is currently available to the company. Forward-looking statements are not a guarantee of performance and they involve risks and uncertainties. These are related to future events and therefore depend on circumstances that may or may not occur. Investors should understand that general economic conditions, industry conditions, and other factors, operational factors, might affect the forward-looking statements and the results that are materially different from the forward-looking statements. So, I'd like to give the floor to Mr. Eduardo Perez, the CEO. He will present the presentation. He will start the presentation. The floor is yours. Good morning everyone. It's with a great satisfaction that we start the earnings call of the third quarter of 2025 of Multiplan. Once again, We had a very solid operational performance with high occupancy rates and sales in constant growth. Such results are backed by decisions that reinforce the long-term vision of this company. And this is what I'd like to talk about today. Not only the quarter, but also how we are building the next decade of history of this company. Over the last few years, we worked in a series of expansions. We reviewed our portfolio, we transformed our assets with new value opportunities. On the next 18th, we will launch the first expansion of Park Shopping Maceió, with 100% of its area being occupied. We will launch the expansions of Morumbi in March of next year and Park Shopping Brasília in November. We have two new expansions, one in Belgrade shopping that will add the GLR, and another one with 4,000 square meters. Besides these enterprises, we had important movements with the business, with the selling of the terrains on the side of Rebidon shopping. We're creating in that region a multi-use complex with residential buildings, commercial and hospital. which generates value not only for Multiplan but all of the community around this is our initiative and it shows the dynamic way that this company for 50 years we've we've innovated we've grown with adversity now looking towards the future we have 150 000 square meters of abl for expansion of our and 860,000 for multi-use projects. This is the most surprising. A million and a half square meters of potential in all of our terrains. All of our malls of our portfolio have a great potential for growth. specifically with the new rules for occupancy of urban areas and the launch of new directive plans for the cities. I'd like to highlight the promising area of Barra Shopping Sul that has two mapped expansions besides a medical center and also three towers that are under study. We've observed also another important movement The return of new international brands of the shopping mall. With the advances of the new phases of Golden Lake, we are projecting the third phase, Lake Baikal. It will have two buildings, seven more than what was initially projected. Out of the 1,100 units predicted, the Golden Lake neighborhood is going to have 1,400 units, a considerable increase of efficiency of the project. With this, the additional flow in the primary area of Barra Chapin Sul is 8,000 people. I also have to highlight the essential role of digital innovation. The multi-app is adding another million and a half active clients, and it's consolidating as a digital full platform. Our relationship program has grown 40% in registered sales in regards to 2024, and the platinum category doubled its base of customers since it was launched. All throughout the trajectory of Multiplan, several shareholders have bet in our company, and we've always been here. We do what we do best. Quality engineering and a mix that dictates the movement of retail. We have to generate long-term value for our shareholders. Also, I'd like to bring your attention to the investment in technology of the company and the condominium. Certainly, we will have a reduction of operational costs for everyone. Following the international trend, the use of artificial intelligence, besides being welcome, is irreversible. And we are confident that we are going to close 2025 with a portfolio that is ever more modern. A base of clients that is engaged. And a clear vision of future. That drive of growth will not stop. Thank you to all the collaborators, investors, analysts, journalists that follow us. And I wish you a Happy New Year for everyone. Thank you.

Thank you.

We close the, now we open the session for Q&A. Please open, if you have any questions, write down the questions on the Q&A and the questions will be answered as we receive them. The first question is from Fenioreng, analyst of Santander. I will enable your microphone. The floor is yours. Hi, everyone. Good morning. Good morning, Eduardo. Good morning, everyone. All the IR team. I have three questions, but I think that they're very brief. First of all, thank you for the opening of all the details of potential new projects. And I wanted to hear more about this issue first. Is there any trigger? Is there anything that could generate for you to launch these expansions of shopping malls? What are you waiting for? High occupancy, as it happened with BH, BH shopping, it's a more macro, clearer scenario. How can we, what is the guidance? How can we incorporate this in our projections of Multiplan? So that's the first question in regards to the expansion of the shopping mall. Secondly, in regards to the Golden Lake also, the first two phases are well sold, 66%, the other one was 75%. And I want to understand if you have any idea of when you should launch the third phase of Lake Baikal. The third question is in regards to the profitability of the Golden Lake project. We know that in the third quarter, The margin is compressed and so I wanted to hear a bit more about what happened and what do you expect of profitability in the next phases of this project? Thank you. The last one, Golden Lake. So, explaining a bit on the margin. We have to foresee that this is a project for development for the next 10-15 years. 1400 units, so there's increase in numbers that we could get with a new legislation you're gonna have. An improvement of efficiency of the project that is still not calculated in the bottom line to give you the real numbers. But we're going to discuss this in the future. Now, going back to the issue that we had with Lectroid. I'd like to clarify one thing. It's the first phase of the enterprise. is any enterprise of this size, the first phase is always the one that sets the tone. It's what you show what you want to do. We had issues with the floods A lot of the builders had a lot of difficulty. A big one went bankrupt and it generated a loss of efficiency and delays that were very big. We were looking for 30% of margin dropped to 20, but it's still in the 20. So for the future, I believe that this margin will increase. The other condominiums will not be as luxurious as these ones, will not have the amount of details and it will make the construction easier. But the standard is established. The important thing, Fanny, is that winning or losing margins, you are delivering what the buyer of Golden Lake bought. The credibility of the company is here on the table. So the city went through a very difficult moment. Porto Alegre decreased in the number of people. Many people moved out, moved out to another state. But we still bet. And we are very confident in the city. As I told you in the initial speech, a lot of the brands that were already at Barra Shopping Sul International and National, they're coming back because of Golden Lake. So, we are here talking about the development of the region. You have a hotel there now. So, you're creating a whole new neighborhood, not just a condominium. Second question that you asked. Lake Baikal, third phase. Lake Baikal, I imagine that May of next year, 90, 120 days to detail the projects. I wanted to get it so you can see our direction in May of next year we should be launching. The first one was in regards to the potential that, well, we wanted to show you. And this is an internal discussion. No, everything that we do, everything that we have of potential in the company, we need to share with the investors. So it's difficult to say, Fanny, in which moment we're going to launch this in the future. It's good to know that you have space, that you can double the shopping mall that was born with two floors now has four floors. So maybe in the future it's going to have six. But the important thing is to grow. But you see, barra shopping. We have an expansion to launch in until October 2036 of 4000 square meters of GLA. Well, this is an enterprise with Barra Shopping that has 700 stores, but there is demand, there is the search for international brands to get new brands in these shopping malls that are going to grow.