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Please note that this conference call is being broadcast live and the audio recording will be available at our IR website. During the company's presentation, all participants will have their microphone muted. We will then proceed to the question and answer session. To pose a question, please click on the raise hand icon at the bottom of your screen to join the queue. When your name is called, a request to unmute your microphone will appear on your screen. Please accept the request and turn on your microphone and proceed with your question. Should you have more than one question, please pose them all at once. If we are unable to answer all your questions, send your questions to our IR Relations email at ri.weg.net. We would like to emphasize that any forecasts contained in this document or any statements made during this conference call regarding future events, business outlook, operating and financial projections and targets, and WEG's future growth potential represent the beliefs and expectations of WEG's management based on currently available information. These statements involve risks and uncertainties and therefore depend on circumstances that may or may not occur. Investors should understand that general economic conditions, industry conditions, and other operating factors may affect where Future performance and lead to results that differ materially from those anticipated in such forward-looking statements. Joining us today in Jaraguá do Sul are Andre Luis Rodrigues, Chief Financial and Administrative Officer, Andre Menegueti Salgueiro, Finance and Investor Relations Director, and Felipe Schofield Rothman, IR Management. You may proceed, Mr. Rodrigues. Good morning, everybody, and it is a pleasure to be here with you with WEG's earnings conference call. I will begin with the quarterly highlights on slide three, where net operating revenue returned to growth, increasing 5.7% compared to the third quarter, 25. In Brazil, we resumed growth, reflecting continued deliveries of long cycle projects, Thank you very much. We delivered another quarter of double-digit growth in U.S. dollars. International revenue accounted for 62.5% of total revenue, the highest level ever in energy generation, transmission, and distribution. The T&D segment in North America continued to perform well in terms of deliveries, supported by growing demand for generators Additionally, our industrial electro-electronic equipment business also contributed to growth, supported by sustained industrial activity, particularly in the oil and gas and ventilation and refrigeration systems. Our EBITDA margin remained healthy, closing the quarter at 21%. EBITDA reached 2.3 billion reais, an increase of 3.1% compared to the third quarter 25. Through the presentation, Andrés Salgueiro will provide further details on these figures. Our ROIC, one of our key financial indicators, increased by 0.8 percentage points, reaching 32 point excuse me 33.2 percent of the end of the quarter as we will see on the next slide with growth compared to the third quarter 25 ROIC remains at a high level reinforcing the quality of our investments our discipline and capital allocation and the consistency of our long-term strategy I will now hand the floor over to Andre Salgueiro to continue Thank you, Andre. Good morning, everyone. On slide five, I will present the revenue performance in our business areas. In Brazil, we saw fluctuations in industrial activity across several segments, with larger investments being postponed and a greater focus on maintenance. Long cycle equipment, such as automation systems, recorded strong delivery volumes, especially in the pulp and paper segment. and GTD, we had another positive quarter in the T&D business, driven by transformer deliveries for transmission auction projects and distribution networks. Please remember that during this quarter, we began operating the expanded vitine plant, strengthening our production capacity for large power transformers in the generation business, despite the normalization of the comparison base Revenue was still negatively affected in commercial and appliance motors. Quarterly revenue reflected demand volatility in some important segments, particularly air conditioning motors, despite positive demand in the washing machine segment. In paints and varnishes, sales of our main products remain strong, especially demand for liquid coating in the oil and gas segment. In the international markets, demand remained positive for short-cycle equipment such as low-voltage electric motors and standard automation products, particularly in the oil and gas mining and ventilation cooling systems for data center segments. Long-cycle equipment also contributed to this performance, including high-voltage motors and automation panners. We also recorded strong order intake, building a healthy order backlog for the coming quarters. In GTD, opportunities in the North American T&D market continue to support growth, particularly projects aimed at strengthening the U.S. power grid infrastructure. In the generation business, we highlight the strong performance of Marathon's generator business. Supplying backup power generation for data centers as well as the contribution from our European operations in commercial and appliance motors, our North American operations performed well with growth compared to the third quarter 25. In paints and varnishes, revenue fluctuated due to softer demand in important segments such as oil and gas, and we had the impact of exchange rate. On slide 6, we show you the EBITDA evolution. Our EBITDA margin remains healthy, closing the quarter at 21.6%, mainly supported by a favorable sales mix. This was achieved Despite challenges from higher costs of certain raw materials, personal expenses remaining at elevated levels due to the expansion of production capacity underway since the beginning of the year and the high import tariffs in the U.S. On slide 7, we show the evolution of our capital expenditures totaling $905 million with 40% invested in Brazil and 60% abroad. In Brazil, we continued investing to expand our T&D production capacity. We also made progress on investments to increase production capacity in Jaraguá do Sul and Guaramirim, as well as investments, invest vertical integration in Linhares. Internationally, we made investments in transformer plants in Mexico, Colombia, and the US, as well as the expansion of high motor production capacity in China. On slide eight, before we move on to the Q&A session, I would like to highlight that in September, we announced an expansion of our new battery energy storage systems Manufacturing plant currently under construction in Itajaí, Santa Catarina. The plant will have total estimated investments of 330 million BRLs and an annual production capacity of 4 GW per hour. meeting the growing demand for solutions related to the energy transition. In September, we announced a new investment of approximately 840 million BRLs to expand generation production capacity in North America. The project aims to meet growing demand for power generation solutions for critical applications in the US, particularly driven by the expansion of data centers. Finally, I would like to briefly discuss our outlook for the rest of the year. We remain confident in a favorable environment for continued revenue growth, supported by the strong performance of our traditional businesses and opportunities in new business areas. We continue to see healthy operating performance and a favorable sales mix. However, it is important to remain attentive to market conditions, Particular raw material costs which could put pressure on operating margins. We are maintaining a robust investment plan to modernize and expand our production capacity and we are including The startup of major new facilities. These investments will support our revenue growth strategy over the coming years. This concludes the presentation. We can now go on to the question and answer session. We will now go on to the question and answer session. Should you wish to ask a question, click on the raise hand icon at the left of the screen to join the queue. When announced, a request to activate your microphone will appear on your screen. Then you can proceed with your question. We kindly ask you to make all your questions at once. To begin our first question, we have Alberto Valerio from UBS. You may proceed, Alberto. Good morning, Felipe, Andre and Andre. Thank you for taking my question. My first question is about the good performance of the international market, especially GTD, 24% year on year. If you could give us a breakdown if this refers to generators or the marathon generators in the USA with an impact or additional capacity in TND. How much does TND represent as a part of this whole? That would be interesting to know. And a follow up on the question, if the generators of the USA are below the margin of WEG if they take away some of the margin of WEG or if the WEG is above your average margin at WEG. Thank you. Hello, Alberto. This is Andre Salgueiro here. Well, this is another quarter where the GTD is a highlight in terms of growth, and the novelty of this quarter is the good performance of the generator sector. This is what most contributed to the growth of the sector, more than T&D. T&D has had good performance thanks to the investments we have made and the outlook for T&D is ever more positive for the coming year with the entry into operation of the plants in Mexico and Colombia but we have seen an important response from the generator business and we announced an investment a bit before the WEG day The new generating plant in North America to support the good performance we see not only now but in the short and long horizon is a breakdown. T&D represents two-thirds of the international market. Now with the generator dynamic, we will have to see the growth of each of our businesses. We can't give you a full breakdown, but we have had greater growth in the generators. This was important in generation for the third quarter of 2026. Now regarding profitability, the business of Marathon has been good since the acquisition. We were somewhat below the margins of WEG. We're working to enhance the productivity and gains of scale. And the margin has improved quarter on quarter, but it continues to be a business in generator and motors that are running with margins that are somewhat below the normal company margin. Thank you. Thank you very much. Our next question. comes from Rogerio Araujo from Bank of America. You may proceed, Rogerio. Hello, Andre Salgueiro, Felipe. Thank you for taking our question. We have two questions at our end. First of all, that postergation or delay of investments in Brazil, do you think this is temporary? Does it relate to this electoral period or does it relate to an economic slowdown that could remain longer? Is it stabilizing? Not yet. And what happened during the previous years in terms of elections? That's the first question. The second question, a follow-up of Alberto and margin. Now the idea of construction, the EBITDA margin dropped 1.3 points vis-a-vis the second quarter, despite the profit of North America transformers increasing well, 30%. If you could speak about the potentially negative vectors, you have already spoken about the alternator mix, but if you could speak about the increase in copper price that you have not passed on yet, if you will pass this on, the U.S. tariffs, what is happening in terms of your inventory, the cost of ramp up of T&D, or if you are at a peak of volume of cost of personnel before you start up your new plants and the weaker deliveries in the domestic market. Once again if you could refer to all of these points. Thank you very much. Good morning, this is Andre Salgueiro. Thank you for the questions. I will answer the first question and then Andre will address the margins. It's a bit difficult in practice to have that reading of where the impact comes from exactly. We have seen a slowdown, not in all businesses because Paint and varnishes is still speeding up, but all the other businesses had a retraction in Brazil this quarter. And when we look at commercial motors and appliances, this is normally a segment where we see this reflection earlier on. Even in industrial equipment, we have observed a slowdown in the reducers, automation and motors as well. And there's a context that you mentioned the very high interest rates that do have a reflex on this dynamic and the political environment, the elections, they normally bring about uncertainty or investment decisions are held on to make later. Now, our backlog is one or two months ahead, so now we have to follow up on the evolution of the coming months to observe this dynamic by looking at the fourth quarter and especially at 2027. Rogerio, thank you for the question. I'll begin speaking about margins. Margin variations do happen between quarters and that is why at WEG we analyze the margin behavior during longer periods. If we think about the accrued margin in the first nine months of 2025, We reach a figure of 20%. In 2026, we reached 20.9%. We are in a very different context vis-à-vis last year. To give you some color, when we compare September 2025 to September of this year, In the international market, we had an increase of 40% in copper, in steel an increase of more than 20%. Yes, we are being impacted by the tariffs. Now, Session 232 in Mexico Thank you for joining us. In this quarter, specifically, the main factors impacting margin are the increase in raw material. There is a mismatch in some cases. It did have an impact. We have been reporting an impact in personal expenses pre-operationally for the plants that are under construction. And I don't know if I will recall your entire second question, but in Betín, well, the transformers have begun to produce and In Mexico, Colombia, which are two green fields, will come into operation in the first quarter of 2027. And we will have to hire people, work with training. We're working with highly specialized labor, which of course will have an impact. Besides the impact of import tariffs, of course, that came stronger in the third quarter compared with the second quarter of 2026. On the other hand, we have a positive dynamic in our long cycle equipment and A lower contribution of renewable energy projects in wind and solar energy. We also have transformers that are not part of our construction contracts. This is a very general overview of the behavior of our margins. No, you did very well, Andre. You did not forget anything. Thank you very much. Our next question comes from Marcelo Mota from JP Morgan. Marcelo, you may proceed. Good morning, everybody. Thank you for taking my question. I'd like to hear you remarking on tariffs. There's that idea that companies that exported to the United States will have some sort of a reimbursement I don't know if there are any details that you could share of what has come in during this quarter, if anything has come in, or if you should wait for the end of the year, because this will stretch out until 2027. And if you could speak about the auction, if it will be held this year, simply to remind us the competitive edge that you have and the expectation you have for this auction. These are our two questions. Mota, thank you very much. Now to speak about tariffs and bests. Things have changed since the last time we conversed. We are seeking the reimbursement, taking all necessary measures with the authorities. The process is underway. There is no defined date for the conclusion. We will acknowledge those entries as soon as they take place. In March, the reimbursement truly was not very material. Mota, regarding the best, the auction, what I would like to underscore is that the auction will be important to help us to develop that market in Brazil our positioning is to focus on the auction of this year exclusively now the decision for investments and the construction of the new plant is to think about the development of this business in the mid and long term this is a very important business to bring about stabilization for the problems that we observe presently Having said that, we do hope the auction will happen this year. It has been set for the beginning of December. There is important information that so far has not been disclosed. For example, the issue of volume and specific rules. This should come out in the coming weeks. and we're getting ready to address that process in the best way possible with the recent announcement of our expansion of investment we bought out the capacity of the plant that had been announced at the beginning of the year and now we have an additional capex of 330 million to give us an annual capacity of 4 gigawatts and the plant should be ready in the second half of the coming year. Regarding our differentials, they're the points we always reinforce. What WEG has with all of the players, especially in Brazil, recognition of our brand, technical skill, engineering. Through this, WEG is able to support these projects. And from the viewpoint of products, we do have a competitive product and adequate technology for the market needs. This is how we are able to position ourselves to make the most of the opportunities, not only in the coming auction, but in coming years. Thank you. Thank you very much. Our next question comes from Gabriel Rezende from Itaú BBR. You may proceed, Gabriel. I would like to go back to the discussion of margin I will address the vectors that you mentioned. We can think about them for the fourth quarter. I don't know if the company will anticipate a price transfer before the fourth quarter. Perhaps this could offset the negative vectors. And if you could speak about the dynamic of the freight cost, Just to know if this line item could become more relevant in the fourth quarter. There has been an increase in freight because of geopolitical reasons, and this has altered the dynamic, of course. Now to speak about tariffs, if you could remind you If you believe WEG will become more competitive in a scenario where the tariffs between Brazil and the USA are reduced drastically and where tariffs for other countries are maintained, what can we think about for the sell side? This on to our customers. Hello, Gabriel. I will begin answering your questions. All of these offenders we saw in the third quarter will continue and WEG will work on productivity gains to mitigate the impact. If we think about market agreements, these agreements can be once again assessed, the increases in freight costs, Of course, this is due to geopolitical reasons and because it is difficult to deliver raw material the entire year. All of this has an impact, but we have long-term contracts with the companies that transport our products and this helps us mitigate this adverse scenario. Gabriel, if we look inside and as part of the question that you made of the impacts going forward, now the increase in raw material, Thank you very much. and the increase in the cost of personnel evidently as the new plants come into operation as happened with Betim, the commercial will begin and this will tend to go back to normalization. The normalization in Brazil began in the second half of the year and we will see normalization in Mexico and Colombia the coming year when the plants come into operation and when they begin to generate revenue and growth in the operations. Thank you, thank you very much. Thank you, thank you very much. Our next question comes from Lucas Laghi from XP Investments.

Good morning, everybody.

Thank you for taking my questions. First of all, I would like to congratulate you. Well, for 40 years, WEG success to Paulo Sérgio in the succession process of WEG Energy as well. Now, the question is thinking about your investment cycle for the coming years. You have announced several investments in the last few years. Transformers, alternators, a great deal has been announced. Now, I know you don't share this information in numbers, but very broadly, Do you foresee a higher potential of return, a higher or lower potential of return in those areas where you're allocating capital in places where entry barriers might be tougher? Can you allocate investments? Simply to understand the marginal returns that you will have for the present day investments, if there's a specific product line that is missing in your portfolio that could become a priority investment in coming years, you mentioned this at WEG Day. or if we can go back and think about something more concrete, M&As as your next cycle of growth. I think these are the two points referring to your CAPEX cycle going forward at WEG. Lucas, I will speak a bit about the investments and the impact on ROIC. WEG has always paid a great deal of attention to investments and year after year we enhance the level of investments delivering a very healthy ROIC. At the beginning of an operation, especially at this moment, Where we are building green fields, this will have an impact on the short-term ROIC. When we speak about expansions and in the short cycle products, you don't need to invest very much in facilities in that case, and you begin to have a higher profitability. So yes, we do have businesses. Some businesses that begin with a somewhat lower ROIC, but at the end, after the maturation and growth phase of the businesses, we will always attempt to reach a high ROIC above the market average, which is a level that we have put in place during the last few years. Now regarding the product line as well. Nowadays, based on what we said at WEG Day, there is a new business that will demand significant investments in terms of our ROIC. We have found excellent opportunities We have invested to enhance our product portfolio in some cases as in the last few years. We have increased the production capacity of transformers in the last few years and we have made additional investments to complete our product portfolio in compensators and of course in whatever the market demands. So we will have a significant investment for new businesses going forward. Thank you. Thank you, Andre Rodriguez. Our next question comes from Lucas Marchiori from BTG Pacto. You may proceed. Thank you. Good morning, everybody. We have two points at our end. First, in the segment of industrial equipment internationally, if you could give us an explanation of the size of the high voltage motors, the cooling motors that are part of your portfolio, what is happening with your Order Logbook. If you could give us more information on these two product lines, it would be interesting because you have mentioned these two topics in interactions and in the release. A second more generic point, I would like to hear your vision about short-term challenges Thank you very much. And if the exchange appreciation has become another challenge, and which would be the short-term impact on your business, it would be interesting to hear your comments. This is Salgueiro here. I will answer the first question. Andre will speak about the exchange rate. In electro-electronic and industrial equipment, the long cycle part has a breakdown of 80-20%. Most of the long cycle should present something below 20%. But if we're making a comparison with motors, we will be very close to that 80-20 breakdown. Regarding this breakdown for ventilation systems, it's somewhat more difficult to have an approximate figure. It depends a great deal of sales. 65% to 70% are carried out through OEMs. In some OEMs, we know who the final customer is. In others, it is more difficult to know. What we can say is that when we look at cooling for data centers, this is a business that has grown a great deal, practically doubled vis-a-vis last year with a very positive dynamic going forward. Now for the total industrial equipment to give you that Breakdown is somewhat more difficult for the dynamic I have just referred to. Let's speak a bit about the exchange rate, Lucas. In the mid and long term, the impact is smaller. Now, we could have an impact of greater depreciation in the short term, but we can make adjustments in our business when we speak about revenue. When we convert our sales in Brazil based on the current exchange rate, obviously there is an impact. A depreciation of the real will mean higher revenues and the contrary will have a contrary effect on our revenues. Now, when it comes to cost, the impact happens subsequently later on. In our purchases of raw material, we make an adjustment in the exchange rate and as the inventory is consumed, it impacts the company results. And this lag in the margin of costs and others will of course have an impact in the short term. What we see in the exchange rate Thank you very much. We end up having a situation where we have lower volatility compared to when the exchange rate was a bit jumpier. And at each of these moments of appreciation, depreciation, we have to seek the guarantee of having healthy margins throughout the process. To continue, let's go on to the next question, a question in English from Chance from Morgan Stanley. You may proceed.