Thank you, Laís. Good morning to all.

Today we're going to show to you guys the new quarter. It's an important data.

Vittia, it's completing 55 years, we always mention that it's half a century working and towards to contribution of agribusiness. A bit of and a highlights that it doesn't really make us happy in a way, but we need to give explanations that the revenue was a little lower on the first quarter.

We're still firm. We understand that this recovery has the tendency to happen, and we're out there.

What we've been working as a company, rationalized company, at this moment, this hard moment of the agribusiness in Brazil. Important points to mention, even with all the matter, that we have a reduction of almost 20% of our debts.

On the first quarter, shows the organization and this control, cash control. We have EBITDA a bit negative, the leverage in line with what we had on the first quarter of 2025, and we did now, for the shareholders, a payment of R$16.5 million.

Going to talk about risks and opportunities, seeing this current scenario, the agribusiness still challenging. Everyone is noticing that, the results from the companies.

Exists a high interest rates, restrict credit, and, of course, the farmer inside this scenario, he's very selective when he buys what he needs. He needs to make it viable his activity.

Now we count with a new conflict. We had in the past the war of Russia and Ukraine.

Now we have Iran. Now it works in a very complex way, the market as a whole.

We understand that the companies that are organizing themselves, they can benefit from this complex scenario that we're living at the current moment. We have a very solid position, financially speaking.

We've been speaking since at the end of 2023. We did our homework.

We're still doing our homework. We know that when the market will come back, we're going to return fortified, stronger.

We have expectation to launching of this products. We have evaluation done by an entity that was very well respected, a technology that we developed that we're going to be harvesting these results already in 2026.

We have a drop on revenue because of the part from the farmers of the uncertainties. We have a good news now: the reduction of our debts, liquid, almost 20% of our debts.

We kept this balance because of debt and EBITDA and the part in the SG&A, this is it, the compromise of rationalization of the company for us to create positive numbers inside the agribusiness in 2026. We speak again with the financial robustness that we're having, understanding at this moment it's a moment where we have to work in a very intense way internally, we're able to collect our results and to be inside the company.

We're going to be preferred. We're a company that we've verticalized a lot of our productive process.

That would give us a condition of a lot more competitive cost compared to our competitors. Our strategy is still with the financial solidity.

I've mentioned before, even to do an analogy, I think everyone likes soccer. We're in a hard game right now that we have ahead of us a goalkeeper that's really taking care of everything.

It's hard for us to score, but it's harder for them to score a goal. What we need have to have now a very efficient defense line to get the results that we need.

We know that we're living in a period, a hard period in agro, but things they turn eventually. Of course, I have no doubts that in a short period of time, short-term, we're going to be scoring the goals necessary for our company to win this game.

Vittia completes 55 years. It's very interesting to speak in this time, this anniversary company helping directly the Brazilian agriculture to promoting technology, generating productivity for the Brazilian farmer.

This is our work thesis. Thank you very much.

The floor is yours, Alexandre.

Thank you very much, Wilson. Good morning to all.

Going back to the detail of performance from the trimester, we had three lines that we've been through from this crop 2025-2026. The only big difference is the fertilizing line for soil that there was a very expressive growth last year, like the the last quarter, but at the beginning of the year, it's a period of a low seasonality for the the the fertilizer buying for the soil on the farmer's part.

This line suffered a bit with the the beginning of the year, this tumultuous year. We were already with the the farmer already very cautious, and the war that was declared at the 20 February 28th, getting one month on the trimester, it made that everyone would would stop eventually doing what they were doing, slow down a bit.

Even today, this we still have this sensation where the price is going up and the farmer, the producer, he's he's slowing down, towards buying. He's just buying the minimum necessary to keep up the demand.

We had a drop on these three lines. As I mentioned before, when it comes to to to foliar and and and biological solution was the tendency that we saw on the last quarter all through the crops 25-26.

The fertilizing line of soil had a trimester more not so abnormal. We can go for the next slide.

Now there's a tendency similar in the lines of the the biological solutions, natural. In the last quarter, we had a drop in a 10%, and on the leaf fertilizers and industrial products was a rise of 3%, 10% drop, and then had a margin growth.

Then soil fertilizer, like I mentioned, it was a a quarter that was not so typical, low seasonality. We had a results and a margin neutral basically.

The fertilizer now and and and leaf, it's a tendency that we wait for the year to to happen with the because of the beginning of the war and the scarcity of raw materials, we wait this this this recoup with all the the fertilizer and industrial products and then because they're like imported. Inside this logic of the the rise of costs since the beginning of the war, because of the the closing of the the Hormuz Strait, although we're not seeing directly a a recovery of margin, we we see, we realize that at least in a short-term, that it's going to to show a certain stability and with a logic that we need to have to recoup that the margin this year to recover.

Given that the fertilizers, they are they with a higher cost now and the the chemical defensives also. The biological part, there's a space with a certain recovery of a margin throughout the year.

Now going to the next slide, the point of view from where what we control and what we have total power, it's the management of our our our what whatever is spent, taking this recovery part that the recognition of the revenue last year, we had the the end of our our our our excessive parts as a having as a a a that a debt. We've adjusted to our goal, generating between growth, nominal growth of zero, and inflation inflation growth, we're able to reduce our our debts and our expenses.

It's worth mentioning that even though we had a a smaller provision, we have a reversion of of the the first quarter '26 and the last one from '25. We have a a a smaller reversion, and then but we see that as something as very positive to put the performance into the the the 30 April 30th when we the the closing of the the quarter that are receiving, and and then they had a a history of debt and then But now we're we're dealing with.

As a resume of the quarter, summary of the quarter, we have a drop of EBITDA on the first quarter 2025 for less minus R$1 million in the first quarter of the '26. It's to do with our performance of profit, gross profit, and then and then drop of revenue and margin.

I reinforce that it's a reflex of the the last year's crop and this first quarter. There wasn't a lot of expectancy, a lot of And this quarter, it's a seasonally lower.

This is a a point of view from from from all over given the revenue. That's why it's not so representative.

Now going to the next slide, we from the point of view of the variables control, we're still with our CapEx product. This year, it's two projects, bigger projects are it's we're going to be very close to to last year's point of view of the the total investment towards R$30 million.

This growth of 16%, it's more seasonal inside the seasonality that we have of investments and are divided by two main two main products that represents half of the CapEx from the year and investments to to to better of of our biological plant that will reach reach close to R$10 million, and investments for greater capacity of inoculants that will reach close to R$6 million reais. The point of view of cash flow and debt, we were able to having a very good performance within the the environment that we live in agriculture.

There are a lot of people, with debts and and and scarcity credit. Vittia Vittia in this trimester, this quarter, that we consume a lot because it's a bridge between what we sell to the crop and until the the receivables that it's post-harvest, that it's it's at the end of of May.

We consume cash at this point, and it wasn't The consumption was slightly less, 15 million against 40 million on the same quarter of last year. As a result of this management, sufficient management, financially speaking, where we're controlling the debts and the expenses and our cash flow, we were able even We paid over 40 million for the shareholders in the last 12 months, we were able to reduce our debt, liquid debt, in 20% on quarter against quarter.

It's a very important result. Like Wilson mentioned, it's going through a hard times now, globally pretty much, but we're on defensive side.

It's like we mentioned on the soccer team, that you need to know the moment, the right moment to attack, but now it's the moment to defend, to win the match at the end. We're not going to We're not going to attack.

We're not going to get no receive like, they're going to score against us like five, 10 goals. We're just going to keep ourselves into the defense line.

Make sure we're up there and waiting till the scenario to change and to eventually won this match, win this match. The right strategy, we're following a strategy.

It's a a a robust cash flow, keeping the investments, keeping our our projects, our internal projects, mainly P&D, but of of efficiency, better efficiency in a position that we think that it's it's completely differentiated in the market towards our competitors. We can now can give ourselves to to to keep all the investments, to keep the discipline on credit, and to have to be very flexible in this moments that we have a certain supply chain, it's a little messy right now.

We have this flexibility to to to buy with different prices given that complicated for the agriculture due the war. This position, it's an advantage, substantial advantage in this moment, this given moment.

Going to the next slide. Because of this better administration of cash, we had a better performance, financial performance on the quarter.

We had a credit because due to the the loss we had. That's why we had a a the credits, the the accounts, the social contribution, as the the liquid profit adjusted, and we had a a drop of around R$4 million quarter against quarter.

Now, it's Edigar's time.

Thank you, Frizzo. Good morning.

Good morning, all. We continue here with good hopes with Triunfo, at our launching of 2025, and clients are really having a good acceptance with this product that was our first big launch that we did that's already giving a good result for the company and of the first year already.

Then we have a growth expectancy that will help us bring results and launching of products. We're started already.

We have a launching that we did already, and the next month at least two more products we're going to be launching. On these two are defensives of the biological, and the other two are products that are specialized class, let's say.

One is biological also, and the other one, it's for the part of nutrition, Max Nutrition. We're continuing with Frizzo,

even with a hard year, we're still kept with investments very, very weighted. We haven't stopped the matter of investment, and this brings with a security that when the market accelerate, we're going to be able to grow in a faster, more consistent way.

Let's go to the next slide. The matters of investments on P&D that we've been showing, research and development, R&D, and then biological.

We didn't reduce anything in investments, because we understand that everything that we're going to be a growth in the future, where we'll come out of here and we're able to keep these operations a very stable. Recently we had four more RET that we asked for, and then it was approved with microorganisms, different ones.

We have one of those that had a RET that microorganism that they were even heard of the first mention of this microorganism. First, you're kind of specialized at this analysis that no one is even working on the market yet, and having results that's highly differentiated from everything that we've seen so far.

We start to bring these new technologies that we started a while ago from our collection of microorganisms, which is robust, and it's very well studied. From now on, to be something common for us to see these innovations, the very differentiated from now on.

That's it for the given topic. Talking about the point of view of the market and capital, we've suffered a bit on the performance level for our our shares.

We understand it's a moment Brazil and a moment agricultural moment, not our company, but we don't understand much the evaluation, financial evaluation that it's getting to Vittia. We did a little bit of the the the the rebuying program, 5 million on the first quarter on the fifth program.

We're still the the the interest over our own capital, the tributary part, and a point of view of of capital, we're, like I mentioned before, we're still very solid. Now, more and more looking to the point of view to accelerate the rebuying program.

We had a strategy to do that in a gradual way, not to interfere in the market. In a point of view of the the shareholder, that to deal with and to maximize and discounted 20% of the liquid of book value was discounted generating six times the amount of EBITDA on the last 12 months.

We're talking about of results, historic, the lowest one and of this margin leader to Vittia. Like I I did comment on that on our Vittia Day, we rentability are lower historic, one of the the lowest on the last 10 years, even the company having a portfolio of a much more differentiated with much more added value that we had 10 years ago.

Even though, we're still with EBITDA six times and with discount on on on the what we have here make us to to accelerate our programs with a responsibility always with responsibility. The idea is not to to to come up with prices on the market, pressure, and and to allocate the the best way possible the company's capital to maximize the the return for the shareholders.

This is we'll continue the rebuying program and evaluating how can we accelerate. Wilson spoke previously that that this will this agricultural market situation that will flip.

It's a cycle, the the longest cycle in history. We're going to the fourth year already of this bad cycle, and then going an effect, external factor, very important, which is the war, and internal one, which is the election.

At these moments, like Wilson mentioned, a a a turning point so that the market will go back to to go back to the full activity. A company like Vittia is not going not returning any level of rentability, a minimum for its capital, but I reinforced, like I said on Vittia Day, and if we're like this, our competitors are are even worse, and some of them are not even able to to have any return whatsoever.

They're having loss. They're having they're they're having more financial problems.

This will normalize at some point, and at this moment, we're going to be very focused on this program, rebuying program.

Good morning, Wilson, Frizzo, all the team. Two questions here on my side.

First one is related to margin of the farmer, the producer, to get your feeling related to the market, especially in the context that that's very globally. They guys explained on the presentation, but inside this context, you guys are able to give a little bit more color of the prespecification of this more expensive chemicals, what do you guys think of the adoption of technology for the part of the farmer throughout the year?

How it can deal with the top line and margin with you guys? My second question is related to the expectancy for the mix of the year.

Micro soil got more revenue last year, and explain well what happened. Then foliar fertilizer dropped, leafy foliars, and to normalize to get a little bit of the hook on discussion of margin, how will it work, this trajectory between the segments throughout the year?

That's all my side.

I'll start, and if Edgar wants to compliment. The important thing is that we're seeing, the markets the margin for the producer, the the the farmer, it's it's very narrow.

It's been very many years in the market, agricultural Brazilian market, they're they're phases and phases, you know? It's the same thing.

Sometimes it's everything is very good, very well, and sometimes are very hard, very difficult. When we see the main cultures here that we have in Brazil, which is soy, corn, cotton, sugarcane, it's they have a culture, it's a margin, sacrifice margin.

The guy is having to a a very management, hard management, internal management work for him, too, to have some results that he will manage to balance his bills. There's a matter that it's logical, and I was talking to with our competitor that we have a lot of solutions to to leave the the the the the farmer to leave him a little bit of some margin, with his with his cost, and it's a work that we need to do.

At the immense time, I feel that a lot when we talk about in this world on defensive chemical defensives, that we think that the world that that's in Brazil. No, that's something that's happening here in Brazil for 70 years, and it's giving results.

Where we go to the world of the the the the and we're not talking about 10 years on the part of these defensives of biological on the agro part. An important part is that now it's very clear.

Even the the own companies, chemical companies, they are seeing the biological part as a big solution on the efficacy for the farmer. The rise of the price from the chemical products is reflex, and in a big way on the farmer's market.

He has alternatives to that. He can now today work in a way very calmly in the way for this substitution.

We believe in that. Now it's it's it's hard work ahead.

We we don't have the capacity to do this reversion, this reversal, in an absurd way, you know? It's a work that we're doing in a long term.

A lot of products that they they they they understood about our products. Now today we have a lot of farmers, producers, and medium ones, they they understood already.

He's able to control the problem with his crops with a biological product. We have a a a hope, expectancy, that the solutions, not just hope, expectancy that these biological solutions will occupy a bigger role this year in our company.

Automatically, we will have a a better mix proposal. Based on on our micro and the soil, it's still it's very this area is very heated.

We have a small retraction on the first quarter. On the second quarter, we have a a very strong position upon the the soil fertilizers and in the sense of the the the high the high rise of the NPKs.

We have her solutions for for leaf and and foil, some substitution to to to leaf. Our our our expectancy or our what we hope, what we foresee, is that we have an increment in all all our lines.

That's what this our belief. It's it's work, daily daily work, and it's what we're doing inside the company already.

In all our presentations, I mentioned that a lot inside, we have a total dominance. Out there we need to work out in the field.

We need to be more active. That's what we're trying to do now at this moment.

We're going towards this moment to to to spread all this and to to have a better give the the the farmer a better comfort. Now Frizzo will speak, but from our side, it's matter of launching of products that we've worked in some things that are to help the producer, the farmer, to have a lower cost and take better advantage of the nutrients.

Seen last year, we spoke a lot about the phosphorus, talk about some technologies for others, mainly something with nitrogen and some other cultures. There's nothing much to compliment in the matters of the mix.

It's, Wilson mentioned, that's a very positive micro soil. A year was strong for micro soil without the same growth compared to last year.

We hope to keep the volume, not to have a drop on the soil part, and to start having growth again mainly on the line of biological solutions and natural ones, where the greater focus, but we also await to grow in the foliar and leaf. That's a back objective for the year, to grow in all lines, and then in soil part normalizing, and the biological aspects to go back, and then to be the greatest growth that we have with the greatest potential.

Perfect. Thank you very much.

Good morning. Can you give more details of the project that was mentioned international from Mexico?

It's under my responsibility. Mexico is following well the part of commercialization of the fertilizers that we have already registered.

There we have 13 products registered. We have a programming for the year very good, and it's happening.

It's happening as we expected. What can change a bit from now until the end of the year here, we have a, for example, in June, depends on governmental bodies, we cannot guarantee, to get all the certification and registry for the biological defensives.

It can have a better results, which is an operation this year that we had a budget to have a positive year already. It's basically that's what I'm able to state.

Just to compliment, Edgar, we have nine professionals there. It's a project that we're sigh expectancy, but for more towards medium term.

A very interesting representative and in Vittia, but we're still at this initial phase: complementation of portfolio to formation of the crew there of the staff, and this year, next year, expectancy is to have some kind of return results that contribute, but still shy when we think about the representativeness as a whole. Just to compliment a bit also, this is a project that, let's say, they're very very up front, we're happy for it.

We're excited over it. It's a very important point.

The matter of choice is also the place, the people that are with us, the partnership that we have with Mexico, a very good company towards distribution, very good reputation. We believe in that, to started to think about in the medium and long term the matter of Mexico.

There's a point that's very interesting, which is the expansion to the Latin America. We are starting to work in the development of registry in companies like Guatemala, Panama, and others, we believe a lot in that.

It's something that certain and these projects that's going in 3 years and it's very interesting that in this year 2026, they will find a balance and will generate a certain results for the company. We understand that it'll make a difference, a big difference in a very near future.

Thank you to all that are watching us. What we always speak is that we would like to be here to be showing something better, to be honest.

That's always the wish for those that are hard-working throughout the year, and even for ourselves to feel better about it. A very important point, it's the responsibility that the executives from the company have also and everyone that we are aware that the market it's hurt, in a way, when we mention our competitors, the situation, it's not a very interesting situation, and Vittia, they were very strong in this way and were ready for this turn of the game now.

We know we're not going to be able to turn the game ourselves, by ourselves, but the market will. Even you guys that are in the financial aspect of the market, you know that the game changes at any moment, and Vittia is ready, but very well structured, but when the time the game changes.

We're on top of our game, and we're going to work hard to have a 2026 very interesting for all of us. Thank you very much.