Good morning everyone. Welcome to the conference call of LPS Brasil.

Today with us we'll have Francisco Lopes Neto, Vice President, and Robson Paes, the CFO. In order to start, I would like to send a message from our CEO, Marcos Lopes.

Good morning or good afternoon everyone. Thank you for your presence in yet another LPS Brasil teleconference.

In 2025, Lopes faced a challenging scenario marked by high interest rates and restrictions on real estate funding, factors that influenced the pace of credit granting throughout the year. Despite market conditions, the company maintained its strategic discipline, preserving profitability, strengthening its cash position, and moving forward in efficiency and operational excellence initiatives.

In the real estate market, two trends sustained activities: the continued strong pace of the ultra high-end segment, mainly in São Paulo and Rio de Janeiro, and the growth of the affordable housing segment driven by the evolution of Minha Casa, Minha Vida program and the creation of Bracket 4. These factors expanded Lopes business opportunities, and the company ended the year with 163 stores, of which 148 are franchises, reinforcing its network model and competitive positioning in the domestic real estate market.

In operational terms, the company accompanied the launch of 144 projects, totaling R$23.4 billion in general launch value and R$12.9 billion in general sales value. At CrediPronto, the operation maintained its focus on the quality of origination and profitability.

The joint venture achieved R$4.5 billion in origination and generated R$88.1 million in gross revenue for Lopes. In its financial results, Lopes recorded EBITDA of R$69.6 million with a margin of 34.2% and IFRS profit of R$52.1 million, a 51% increase compared to the previous year.

The company ended the year with R$46.7 million in cash, having distributed R$30 million in dividends to shareholders in the capital market. Looking ahead to 2026, we maintain a positive outlook for the affordable housing segment, which should continue to support a significant portion of housing demand, especially among middle-class families whose sensitivity to credit conditions remain an important factor to monitor.

In this context, we'll closely monitor the level of interest rates and the consequences of the external scenario, assessing their impact on the pace of agreements signed. We'll continue advancing in the qualified expansion of Lopes Network, strengthening our performance in the high-end market, and achieving sustainable growth for CrediPronto, expanding our reach and generating business, reinforced our commitment to efficiency, operational excellence, and creating value for all stakeholders.

I now hand the floor over to Cyro Naufel, Investor Relations Officer, and Francisco Lopes Neto, Vice President, to detail the operational and financial results for 2025. Thank you.

Thank you, Marcos. Now start the presentation of the earnings release of the company, starting on highlights with slide 4.

For the financial results, the net revenue of the company of R$203.1 million in 2025, 6% above 2024. The EBITDA reached R$69.6 million, 8% above the previous years.

The net income controlling IFRS of the holding company increased by 138% in 2025 when compared to 2024, totaling R$44.2 million. CrediPronto has closed the year with R$18.9 billion portfolio balance, which is 20% above 2024.

The profit sharing was R$46.1 million, 57% above the previous year. The total transactions closed was R$12.9 billion, 6% less than 2024.

On slide number 5, we have the information about Lopes launches in 2025. In the period, Lopes participated in 144 launches totaling R$23.4 billion, which is 15% less than in 2024.

São Paulo had the highest volume of launches, 54% of the total, while Rio de Janeiro state launched 26%. On the map, we show the states in which we had launches in 2025.

On slide number 6, we see the results of Lopes intermediation. Lopes brokerage R$12.9 billion in 2025, and currently the company is present in 19 states with 163 stores.

On slide number 7, we see Lopes intermediation by geographic region in Brazil. The state of São Paulo intermediated 41% of the total volume, totaling R$5.3 billion, followed by Rio de Janeiro with 35%, R$4.6 billion.

The other regions together added to 23% of the total, reaching R$3 billion. On the following slide, number 8, we see Lopes intermediation broken down by primary and secondary market in 2025.

The primary market accounts for most of the intermediations of the company, 74% of the amount intermediated and 75% of the units or 72% of the units sold. On slide number 9, we see Lopes Labs figures.

We see 10.8 million organic visits in the last 12 months vision for 2025. Leads coming from organic searches generated by Lopes portal totaled 172,000 leads.

The slide 10 shows the main highlights of CrediPronto, and I turn the floor over to our Vice President, Francisco Lopes Neto.

Thank you, Cyro. Good morning, everyone.

It's a pleasure to be once more presenting the results for CrediPronto, an operation we're very proud of because it's growing and it's has a ever more consolidated presence in the market, seeking more growth and its positioning as a true credit house that has a differentiation and business recurrence that is very pleasing. On slide number 10, it's interesting to notice the performance of CrediPronto when compared to other private banks.

We had a growth from 11% in origination and from 4 to R$4.5 billion, and the private banks remained stable in terms of origination. We had a growing presence penetrating in the segments of the real estate market that we have a good reach.

Those are segments we have presence and that allowed us to grow above the average growth of private banks in 2025. With this, we had a net growth in the portfolio, and this growth has been very consistent at around 10% per year.

For three years we have grown by 10%. This level of growth, when we talk about net growth, it's very interesting because it adds all originations and amortizations or payments that are made within the portfolio.

This is very efficient. I don't want to give guidance, but we envisage to exceed the portfolio by more than R$20 billion in 2026, having a very attractive operation.

The default rates are very low. Our customers have a very good profile and which allows us to have a very attractive market positioning.

On number 11, slide 11, we can see the numbers and we are able to notice that our efficiency in results has been growing. We are above 2024, and when we see the growth of origination, which is also reflected in the growth of portfolio and the growth of the profit and revenue of the operation, on the lower left, we see a total revenue of R$81 88 million in the year of 2025.

On the next slide, number 12, we have a net profit in 2025 of almost R$47 million. We had in the fourth quarter '25 12.5, 12.5 x 4, that is a very good figure for the last three months, we exceeded a R$50 million for run rate in 12 months in 2025.

As I said, we're trying to grow the company and we're very pleased with our positioning, and however, we want to increase penetration and growth even further. We want to lead the market.

We have grown more than 10% in recent years. Now let's talk about the net revenue, the financial aspects.

Now I'll turn the floor over to Cyro Naufel to make the presentation of the financial aspects. Thank you, and see you next time.

Thank you, Francisco. Let's now start the financial results presentation.

Slide number 13, we can see that the net revenue in 2025 reached the amount of R$203 million, 6% above 2024. On slide 14, we see that operating expenses increased by 4% when compared to 2024, reaching R$133.6 million in the period, and such increase was mostly caused by the increased transfers to bank correspondents because of the growth of volume financed by CrediPronto in the period.

On slide 15, we can see EBITDA and EBITDA margin, which have attained R$69.6 million and 34.2% in 2025, keeping the company's focus on operational efficiency. On slide 16, we see the results for the fourth quarter 2025 by segment before IFRS.

In the consolidated column, the net income before IFRS was R$9.3 million in the fourth quarter and attributed to controlling shareholders, R$6.8 million. On slide 17, we have the consolidated figure for the year for 2025, where net income before IFRS was R$47.1 million and net income attributable to controlling shareholders, R$39.4 million.

On slide number 18, we see the IFRS impacts on the company as they refer to amortization of intangible assets, gains and losses with net effects, and income tax from intangible assets of LPS Brasil. We would suggest not to consider such effects in your analysis.

Finally, on slide number 19, we can see the evolution of cash flow and equivalents. In the fourth quarter of 2025, operating cash was R$13 million, reaching R$46.6 million, which added to financial investments, amounted to R$71.5 million.

These were my comments and we remain available for any questions you may have. Thank you.

I would like to thank you all for attending the conference call of LPS Brasil earnings for the earnings of 2025 and the fourth quarter of 2025. We thank you all for attending.

Have a good afternoon.