Welcome, everyone, and thank you for your presence here today. I'd like to start the call welcoming our members, the store members, and clients, distribution centers, and the office teams, besides that, the suppliers and partners.

The combination of this group of people has been fundamental for our comeback and transformation of Americanas. We are really pleased with the results that we're going to show today in the first quarter, one more quarter of constant evolution in all the indicators of the company that reflect our discipline and better efficiency and execution of strategic plan that is very clear that was announced last October.

Moving on to the next slide to go through the agenda, we will talk about the results. I will share this with the CFO and the Investor Relations, and then we'll talk about our strategy for 2026-2029.

As I mentioned, a good beginning, I would like to highlight the growth of gross revenue in 17.8%, the same-store sales in 22.2%. Right below in the slide, we have an adjustment in the calendar so that it's a little bit more comparable to the Easter.

Still with this, the figures look very relevant. The growth is 7.8% verse the 4 months of last year.

In this vision, we are adding month in between January through to April, including Easter, as it was in 2025. We have an expressive growth for square meters of 11.2, it's an important number that reflects not only our growth strategy, but also to be more efficient in the square meters of our stores, and a highlight of a digital strategy.

We launched the new digital in the stores, and these figures came very strong with a 50% growth what we call O2O, which is ship to store or pick up at the store. On the right, you'll see a significant reduction of expenses of 4.3 percentage points and an adjusted EBITDA of 15 and remembering that last year we had a growth of almost 1 billion, we keep on this way, and also highlighting our service in our customer client with 1 million and also growth in the insurance in 9%.

A quarter very complete that reflects the discipline and delivering the plan that was agreed on October. I will move on to Sebastião and Thiago so that they can comment on the figures.

Thank you very much, and good morning, everyone. Next slide, and we see sales.

As it was mentioned, it was a quarter that was a very robust growth. We have a 3 billion in sales.

Gross margin have even better trend, was up 23.5% with the guarantee of a rate of even higher. The Easter was earlier than last year, and, therefore, it was favored as we had a 40% of the sales in the first quarter.

We bring also here a comparison the first quarters of the year, and in this comparison we also had a very robust growth with the same-store sales 7.8%. Same-store represents almost two times the inflation of the period and a greater growth as many retails had a growth of, say, a negative same-store sales in the first quarter of the year.

As it was highlighted by Fernando in the opening slide, if we analyze the evolution of our sales per square meter, we had a growth even bigger of 11%. This is due to all the optimization work in the sales teams that we did in the last years.

We highlight that this work will keep going from now on. Now going to slide 5, I want to highlight one of our special features.

In this first, we were able once more to establish a new record of sales in the Easter with a 1.1 billion in sales, a growth of 10% compared to 2025. Highlight especially to 74% of O2O in this period of Easter, showing the potential of this new ecosystem that we are building around our physical stores.

Still in the first quarter, we had our event coming back to school year with our 8%. These two events accelerated our sales trend, and we have more events moving on.

We will have Black on Friday and Christmas, but from thereon we will have the World Cup, Junina party, our chocolate show, we have their anniversary, and also Planeta Kids and Halloween. In summary, we will have one great event per month that will make a great opportunity to surprise our clients.

Now I will give the word to Thiago so that he can talk about our brilliant first quarter.

Good morning. Thank you, Sebastião.

I believe that this slide, it is important how we are building our value in the long term. It was an architecture of our business, that is, as we said other times, the channels don't compete with each other, they simplify.

The client can buy in the store, at the site, in the app, or in marketplace that are partners and receive at home or at the store. This is what we call O2O, online-to-offline.

Have a great potential to be explored. The figures say that.

We see here in the O2O in the middle graph had a expressive growth from 94 to 146, a growth of 56%, going from 3.3% to 4.4% in the same period, being that in Easter, as Sebastião had already mentioned, almost reached 10%. We are connecting the physical Brazil to the digital Brazil using our store as a logistic infrastructure.

On the right on the slide, we see that the financial service revenue also grew 29% in the first quarter. The card, client A, had over 330 clients in the cards in the first quarter.

We grew 9%, achieving a record number in products. We're monetizing this relationship with the client with revenues that don't depend on discounts and have a greater margin, creating a more sustainable EBITDA.

Now I will give the word back to Sebastião.

Thank you, Thiago. Let's move on to slide number 7 to talk about EBITDA and SG&A.

In the same line in the first quarter was marked by an improvement in our operational efficiency. Our expenses, SG&A, went up 3.9%, below the inflation in the same period.

It's important to highlight due to the Easter calendar, we had more costs with wages in this first quarter than in the last quarter. Our expenses, SG&A, went 4.3 percentage points year-to-year.

With this robust growth in the sales and the improvement of our margin and a control of our expenses, we had a relevant EBITDA adjustment. We reverted the loss going to a profit of 15 and then, excluding IFRS 16, we reduced in 56 points this loss.

In this register, last year, the operational efficiency was even better with a positive contribution of 150 million to the EBITDA of the company. Our net results had 100 111 million reais efficiency.

This improvement is even better, 176 million reais. Moving on to slide 8, and I brought an update about Hortifruti Natural da Terra in operations that are discontinued, but I would like to highlight the two important facts.

In the first place, we did not start the second quarter last year with a turnaround of Hortifruti. With less than one intensive semesters, the first quarter of 2026 already showed great improvements.

Sales were up 4%, while most of the food retail saw a fall in sales. We are coming back gradually, showing the results that Hortifruti had in the past, was up 4% in the first quarter with a sales of fruits and vegetables categories that have a better margin.

We also grew in efficiency. This is relevant, had a cash generation in a small period, but positive of 6 million reais.

The second point that I'd like to highlight that we signed yesterday, a sale of 10 of 13 of Natural da Terra stores that we have in São Paulo. All the stores we sold were in deficit, and this eliminates the gain of cash that we had in São Paulo.

A total price was 69 million and which will be abated in our debentures. Now in slide 9, we'll talk about our capital structure.

We have the 2.1 billion reais mostly composed by interest. Our net debt was 347 millions, adding the liabilities that we've been paying since 2024, a net debt 756 million reais.

We still don't have the sales of the stores that I just mentioned and also transaction that happened in the second quarter that probably will happen the second quarter of this year. Once having these two, our net debt in the end of March would be 29% less and would reduce to 536 millions.

In slide 10, we show the cash flow of the 12 last months, focusing on generating cash in the operation. We can see in the graph that we reduced in a significant way the consumption of cash in the operation to only 40 45 million in this period of 12 months.

It was a gain of efficiency, very expressive in the working capital of the company. We spent over 20 million in investments.

We closed last year an agreement to reduce this negative impact in the cash of the company. In summary, a variation of 356 millions in our cash positioning, it has been exclusively from the investment and these extraordinary transactions.

Now moving on to the slide 12. Here, I will remind you that we had an upfront exit of judicial recovery only after 2 years when the company started the process, giving visibility to this process.

We had two advance in this period. The public attorney office was in favor, and then we had a request to leave judicial recovery, and then we manifested a favorable from the judicial administrator.

Fernando will talk about the strategic advancements of the next semester.

Now talking about strategy, I brought once more the slide that was presented in our October call, and these are exactly the same fronts, the same slide. I'd like to to remember that we have two pillars: the performance one to the continuity of these figures that were just presented, and the transformation pillar, where we start to rethink our company, its role, and what will be delivered from 2026 to 2029, the moment that we will celebrate our 100-year anniversary.

In which one of these area has a commitment with this plan and operations will supply a very important of excel- operational excellence, so much more highlighted to performance, where we deal with logistic cost, occupation, productivity, and also think about the future of our stores. In the commercial block, we talk about, assortment, margin, category vision, journey vision, cross-sales, partnerships, and exclu- exclusive items.

In the performance block, we talk about commercial has been delivering as the results have been seen extreme growth. In we also have a group of work talking about the assortment of the future, as, for example, our operations in stores that are with VIP that with the testing where we can go in terms of assortment.

In consumer growth, represented by Thiago, we we we look more to the right in the in the line of transformation digital as we see expressive results since in the in the year 2026 is the new digital financial service, our loyalty program, Cliente A, and a strategic customer vision. Then we have customer we also launched Americanas Ads that hit contributes to our future growth and talks the sales with our store store pools and our consumers.

Today, we'd like to highlight the three first, the next slide I will talk about operations, commercial, and then I will give the word to Thiago to talk about consumer consumer growth. I'd like to highlight we have an important gain of productivity of our members in store.

We're talking about almost 10% of improvement using the reference of the first month of 2025 in the first months of the first month the first month of 2026 through 2025. We have a reduction of turnover of operations in the store so that the teams improve the service they provide.

We had a re- a reduction in 1.3 percentage points in the cost of logistic and an expressive decrease of expenses of 4.3 percentage points. We also have NPS in our checkout store, the best way for us to measure the service in the time that is happening.

This number has a consistent base of our reading was over 88 points. We are very pleased to start this initiative to measure our service in the stores.

The cost of rent had also an important figure with a number below inflation during the first 12 months. In the commercial, I I'd like to highlight the the the strength of this number, the same-store sales of growth, because it already puts Easter in the right period, 7.8% increase, digital going up 50%, sales per square meters 11.2% growth, and a record Easter sales of 22 point with 22.6% growth.

It was very important for us and crowned the beginning of the year for us, having shared what we call operational excellence and commercial results. Now I will give the floor to Thiago so that he can talk about what's been happening with financial services and digital.

Thank you, Fernando. I believe that this slide also summarizes our thesis here for the next years.

We are building a platform where the physical stores and the site and the app create an integrated ecosystem where each interaction generates data and each data improves the next offer. Integrating these assets, we are creating a vicious cycle of business.

Let's talk about where we have our channels: store, app, site. 90 million of monthly visits, besides generating sales, also feeds our intelligence engine, and we are able to serve these identified clients.

This allowed to give personalized offers, engage more the clients in different channels. This is tangible through growth in sales in the digital and also in the physical stores, looking below, those clients that are closer, we can monetize this traffic through cross-selling and financial service sales.

At the same time that we extend the purchasing power of the client so that they can consume here, providing them credit. This is so tangible, increasing our conversion of insurance sales and cards and also launching our credit service in our store.

Then in the end of the business cycle, this is where we see the program Cliente A, where we have almost 1 million clients belonging to it, where we provide cashback, discounts, and exclusive benefits, making that the participants spend 3.5 times more than those that are not participants. This increases that these clients come back to our channels.

One feeds the other. In summary, what we are building here is a consumption platform with multiple layers of monetizing for the client.

Fernando?

Thank you, Thiago. Before going to the Q&A, I would like to say once more that we are very proud of the growth.

It's a growth in our quarter including Easter, this growth that is better from the last quarter. In our understanding, we have consistent growth of our results in the rebuilding this company, combining operational growth, better efficiency, and a lot of financial discipline.

At the same time, it's once reinforcing that we are totally aware that the consumption environment is very challenging, and the speed to execute this plan is very critical so that we can say that it's a complete recovery of our company. With that, we can go to the Q&A, and then we'll do a final closing later.

About coming closer to analysts, we are available. We are here to inform analysts, but in this time there are no analysts covering this role, but this is in the radar.

We are working to come back to a normal situation, also in this part. We are not providing guidance.

There are no forecasts provided in guidance in the future.

Fernando highlighted in the opening, we have to look at the whole journey. We look the EBITDA is still negative, you're totally right, but this EBITDA has been improving in a great way.

It was almost 1 billion last year, but we are still in this journey of continuous improvement and relatively quick. It's an important point.

The second comment about this topic is that we cannot forget that this second quarter in this year with this partial support from the Easter is usually a weak one, this first quarter, with January and vacation in February, they're not strong sales. If you look back of other first quarters, it is a more difficult one in terms of results.

With the great events that are coming and they are come more in the end of the year. The incidence of having the results of this quarter over the judicial recovery, they look at the whole journey, and the public attorney's office has already analyzed, they issued a favorable decision.

We think that this improvement has already been proved, will continue going on.

I don't know if I understood the question really well. Let's do this math together.

The gross debt that we have is debentures. When our debt was configured 2024, there was a debenture 1.8 billion plus the interest in the end of March was almost 2.1 billion.

From this debt to talk about the net debt, we have to remove all the available cash positioning in the end of March. This brings the debt, to give you an exact number, is in slide 10 slide 9, it's a net debt of 356 million.

Besides that, we put in the net debt of the company the remaining debt of the judicial recovery. In 2024, we paid almost all the suppliers from the companies, but there were some debts that were in installments that were still paying every month since March 2024.

In the end of March this year, there were still 400 million, we put this in our net debt of the company, that's why in slide 9, I don't know, we set 750 million net debt. There is a point that was not in the first quarter that are not events in the first quarter, but the sales of the stores that we signed yesterday, that it will close in the second quarter this year.

The price of sales of these two transactions will be abated in the debentures. Our net debt will reduce 200 million.

This calculation, yes, there is a gross debt of debentures 2.1 billion, and if you take cash position, all the liabilities of RJ and then all the sales that we have done recently, we have 550 million net debt, around that.

Murilo, thank you for your question. In fact, I think the first point, we did not deactivate marketplace.

We talk about O2O because this is where we position our focus, first because it's complementary to the stores, and also because the margin is three times higher than the marketplace. We did not deactivate it, we just put more focus on O2O.

Now talking about marketplace, we still have marketplace with two main focus. We have a lot of difficult operational efficiency, 300, 400,000 sellers as other people do, it's not our strategy.

In marketplace, our strategy is to have few, but big players that have own logistics, that have a service area, customer service, and high NPS, and also that complement the assortment that we have in the store, because we also did not make this comment, but a great part of the store, around 5%, is the sales it's 5% of what we sell in the 5% that we sell in the site, it's what we call infinite shelf, where the client goes to the store, they don't find an item there, like a phone, but they find in the site, especially of our this robust cells that we have. We focus on the robustness and the size, the complement of our assortment in the store and a positive margin.

In the next 5 years, it's difficult to say now, but we're not going to come back with a long term 300, 400 sellers type of marketplace, not to have this operation and logistic complication.

About the sales of the remaining stores, you understand that our strategy was to solve first to deal with the São Paulo stores. In the transaction, we sold 10 of the 13 stores that we have Natural da Terra in São Paulo.

The 10 stores are deficit stores that were working with in the Hortifruti segment. We get rid of these stores with this transaction.

We have three stores that we are in advanced talks to sell these stores. I cannot, for natural reasons, saying anything here, but we are working hard to sell these three remaining stores.

On the other hand, we have now Hortifruti concentrated here in Rio de Janeiro with I talked about a turnaround that is better. We have an expectation to improve the results, and we are also in talks whoever is interested, whoever wants to buy Hortifruti, can concentrate on doing so now.

We've ended this call. I'd like to once again reinforce with all of you our commitment to keep on working with a lot of intensity and a lot of sense of urgency.

I think it makes sense once more to thank our members, employees, suppliers, partners for the trust and for the support that they have been providing us. Now, we are a lean Americanas, more disciplined, more focused on data, digitally integrated, and much more closer to the client.

As the client has a lot of people, I'd like to invite you to go to our stores, live this new experience, criticize if it's the same using the NPS. We are here working very hard in order to follow this on this journey of consistent results and positive results that we have been able to, as we shared today.

Thank you so much.