Unknown Executive

Good morning, everyone. Welcome to the Annual Stockholders' Meeting of Cebu Air, Inc. It is my honor to give you an overview of the company's business and operational highlights for the full year 2025. Cebu Pacific delivered a strong financial performance in 2025, closing the year with solid operational momentum despite a more challenging second half, marked by seasonal demand moderation, weather-related disruptions, higher-than-expected aircraft on ground and softer consumer sentiment. Strong demand in the first half supported capacity expansion, while the latter part of the year tested the resilience of our operations.

Despite these headwinds, the business remained firmly on track. For the full year, we generated PHP 120 billion in revenue and carried a record 26.9 million passengers. Profitability improved significantly with EBITDA reaching PHP 30.9 billion and net income more than doubling to PHP 12.3 billion. More about this later, but these results reflect disciplined execution, improved passenger yields, a more efficient fleet and continuous focus on cost management.

We also sustained strong passenger volumes, strengthened our international performance and expanded our leadership in the Philippine market through disciplined capacity deployment and a scalable multi-gateway network strategy. In the next parts of our meeting, my colleagues will give you a deeper look into our accomplishments for 2025.

Joining us are Cebu Pacific's Chief Executive Officer, Mr. Michael Szucs; Cebu Pacific's Chief Financial Officer, Mr. Mark Julius Cezar; and the Corporate Secretary, Attorney Josine Mendoza. But for now, let us proceed with the first agenda.

May I request the Corporate Secretary to please certify on the sending of notices to the stockholders and to the existence of a