Operator

Good morning, and thank you for waiting. Welcome to Cosan's First Quarter 2026 Earnings Release Conference Call. [Operator Instructions] The conference call is being recorded and will be available on the company's IR website at cosan.com.br. [Operator Instructions]

Please note that the information contained in this presentation and in statements that may be made during the conference call regarding Cosan's business prospects, projections and operating and financial goals are based on beliefs and assumptions of the company's Executive Board, as well as information currently available. Forward-looking statements are not a guarantee of performance as they involve risks, uncertainties, and assumptions and refer to future events that depend on circumstances that may or may not materialize. Investors should bear in mind that overall economic circumstances, market conditions and other operating factors may affect Cosan's future performance and lead to results that differ materially from those expressed in such forward-looking statements.

I will now turn it over to Mr. Fernando Tinel.

Fernando Tinel
Head of Investor Relations & ESG

Good morning, and welcome to our first quarter 2026 earnings conference call. Before we begin, I'd like to briefly go through our standard disclaimer regarding estimates, forward-looking statements and projections that may be discussed during this conference call.

On the next slide, I'll start with Cosan's financial highlights and those of its investees. At Cosan, we ended the quarter with a net