Operator

Good morning, ladies and gentlemen. Welcome to Galp's First Quarter 2026 Results Presentation. I will now pass the floor to Joao Goncalves Pereira, Head of Investor Relations.

Joao Pereira
Head of Investor Relations

Good morning, everyone, and welcome to Galp's First Quarter 2026 Q&A session. I'm joined today by our Co-CEOs, Maria Joao Carioca and João Marques da Silva as well as the full executive team.

But before passing the mic for some quick opening remarks, let me start with our usual disclaimer. During today's session, we will be making forward-looking statements that are based on our current estimates. Actual results could differ due to factors outlined in our cautionary statements within the published materials.

Having said this, Joao, would you like to say a few words?

Joao Diogo da Silva
Co-CEO, Executive VP of Commercial & Director

Of course. Thank you, Joao, and good morning, everyone. Galp had a strong start to 2026 in a quarter marked by higher volatility and geopolitical tensions in the Middle East. Galp has no direct exposure to the region. Our operations are mainly Atlantic-based. Still, we are closely monitoring developments, and the impact can be