Good afternoon, everyone. I'm Carolina Senna, Cemig, Investor Relations Superintendent. Welcome to Cemig's Fourth Quarter 2024 Earnings Video Conference Call. We inform that this video conference is being recorded and will be available on the Company's IR website, where you'll also find the Company's presentation. We inform you that, if you need simultaneous interpreting, the feature is available by clicking on the Globe icon located on the bottom of the screen. Upon choosing Interpretation, select the language of your choice, Portuguese or English. Should you choose to follow the call in English, you may also select Mute Original Audio. We are now starting Cemig's video conference with Reynaldo Passanezi Filho, CEO; Andrea Marques de Almeida, CFO and IR Officer; Cristiana Maria Fortini Pinto e Silva, Chief Regulatory Officer; Marco da Camino Ancona Lopez Soligo, Chief Participation Officer and also Generation and Transmission Officer; Sergio Lopes Cabral, Chief Commercialization Officer. And for the initial remarks, we turn the floor to our CEO, Renaldo Passanezi Filho. Thank you.

Good afternoon, everyone. It is a pleasure to be here in this video conference earnings call to bring you 2024 results. I would like to bring to you a message on our highlights. These are our main highlights. For us, this is a historical very important result. 2024 gave us the highest EBITDA, the highest in Cemig's history, the highest net profit as well of our history higher annual CapEx of Cemig's history and also the best rating and history, which is AAA by Fitch ratings. I would say that here, you can see the strength of transformation of the Company's change. Our turnaround when we compare this company in 2018 and what we have been able to reach in all the figures, you will see in our EBITDA, net profit, CapEx, we are talking about 500% and 600% of increase in any of these indicators. So, for us, this just confirms absolute wonderful results. Not only is spectacular, but also historical results. Once again, I say that we have reached BRL11.3 billion in EBITDA. This is a significant growth when compared to the prior year, we reached BRL5.7 billion in investments, which also has a very positive effect. We know that investments that are concentrated and regulated sectors that has a great effect in the Company's profitability when we are becoming more mature and also working on divestments, we reached a AAA rating our issuances have been made with interest rates that are in terms of the spread very good, the lowest all-time this year in 2024, we concluded another step of our divestment program. We sold Alianca Energia. And also, we had a very positive impact in the tariff review for transmission, which was of BRL1.5 billion enzyme transmission results. This one for me is one of the…

So, I will move forward. Thank you, Reynaldo. So as Reynaldo well said it, we delivered a lot to our clients, to our society and a lot also to our investors with our AAA. And also, we delivered to our stockholding investors. This was the highest yield in the electric sector, 15%. Our shares increased 43% of preferred shares in the year, it is BRL7 billion of market value increase. And we have, if approved, the BRL1.8 billion in the next shareholders' meeting, we will be distributing BRL5 billion in dividends. In fact, we are in line. We have had great results, and we are always in line with our peers in the electric sector. This is a trademark as well with our investors and also our stock investors. In terms of sustainability, in addition to being a company with a 100% clean matrix. We have wonderful results. We have included for the 25th consecutive time in the DJSI now up 6 points when compared to the previous year Also, we are included in the sustainability year book 2024 for S&P Global and the A list of CDP as for Climate 2024, which is an index that measures transparency in the analyzed transparency criteria, we had the top score in 10 of the 16 criteria analyzed. We also adhered to the utility for NetZero Alliance and other great achievement in our sustainability pillar, in addition to our Cemig REC, not only Cemig REC, but we also have I-REC, our renewable energy certificates that we are issuing with our own generation or with the generation that we buy in our contracts, which also generate value for the Company, and we generate value for society as well. So, all of these are amazing achievements in our sustainability pillar. Now turning to the…

Thank you very much, Andrea. So now moving on Cemig's D results when we compare the third quarter of 2023 -- fourth quarter of 2023 and fourth quarter of 2024, we had an increase in our EBITDA of 19.2%. Remember that in 2024 in the second quarter, we detached a loss indicator. And we've committed ourselves to end the year within the regulatory limits. And this happened in the fourth quarter bringing better results. And when we compare the fourth quarter of '23 and '24, we also had an improvement in our ADA. And when you look at the market, the fourth quarter, hydrology was favorable in November and December with more rainfall. And so we did have a reduction in the energy demand in the rural area, which neutralize those effects. But in any way, we were able to have significant results for net profit, not as a large growth, but that was affected by higher income, and we also have already talked about the increases because of the depreciation, so we have higher depreciation over the... As I mentioned, when I look at the captive market and the free market, we see that the free market is still growing and that shows that part of the captive clients have migrated to the category of three clients. Recently, the retail traders, we are leaders in Brazil, not only in no time, but also in the amount of transacted energy showing that this investment also allows the growth of the industry initiative and on the other hand, the captive, as I mentioned, because of migration it had reduction in some categories and also because of hydrology temperatures in 2024 compared to 23 were lower. Therefore, we see that in the third quarter of 2024, we had a strong residential growth…

I think it's important here to say that in addition to the financial results, we have the results in all the pillars. Reynaldo gave us a very good overview, so I will be brief. Everything that we have been doing in distribution, and we talked about a number of indicators here, the regionalization of distribution to understand the reality of clients that -- so that we are closer to them and so that we can deliver to each client in an individualized fashion also Cemig agro and enforcement indicators that we are going for and also the DEC when we had an improvement of the rural DEC of eight hours. So, these are improvements not only numbers. In numbers as well, but some of them are greater that follow our strategic pillars in terms of innovation and technology, ADMS mentioned, also S/4 HANA, we are still implementing it. And the platform that is available for our clients of the retail trading companies, a digital platform. We don't see it here but we have a program called Cemig Inova lab. This is an open innovation program. I would say this is the largest one that we have today in the energy market. We are very proud of it. The modernization, the maturity, we know that our transformation -- digital transformation program is not some here. We did have very relevant deliveries this year and that sustained the Company and we look for new technologies. And we need to really be connected to them, also sustainability this year, we have planted 1 million trees. So, we the number. We are going to go beyond it, but we did meet the number and we also launched a program that is called Ecociente environmental awareness program for valuation inventory management is something very important,…

So, now we are going to start our Q&A session. [Operator Instructions]. Our first question is from Carolina Carneiro from Banco J. Safra. Please, Carolina, you may ask your question.

Thank you very much for this opportunity. I have two questions. First one, so talking about efficiency. Over last year and also over 2023, you have taken a series of measures that really improved the margin. And we were able to see in the lines of PMSO all the evolution. And recently, you have seen in some newspapers also that, you are negotiating a possible migration of health care plans. Can you comment on that case? How are the negotiations with the union? And if you can also give us an update on other possible divestments of assets. I'll then turn to my second question. We have seen that another listed company that is under the control of Minas Gerais Administration has received a notice from the secretary of development to start just saying the possible privatization of the Company. So, did you also have -- did you also receive that kind of notice? And I would like to understand if for Cemig, this is, also ongoing in there?

Our first question is going to be addressed by Cristiana Fortini about the health care plan. Then I'll turn the floor to the other officers.

Good afternoon, everyone. About post-employment specifically regarding the health care plan. We have a significant achievement last year. And the labor court was in favor to Cemig. Thanks to. We had to collective agreements. And according to those, the benefit of post-employment for health care plan would be indefinite in terms of time that the Company would have the owners for the health care plans with no limit of time. So, we have a discussion ongoing, very specific ones. We have a discussion that is still in a court, and it should be judged by next week. And obviously, we are open to negotiation, and we were very much interested in negotiating with the unions. And towards something that will not repeat what we had in terms of success in the labor port, but also something that allows us to get closer and to negotiate with the unions. So, about the health care plan. What we can tell you is that we had a positive ruling favoring Cemig in 2024. Also, there is an opportunity for our active employees to migrate their health care plan. We had an important adherence here. And today, we have most of our employees already migrated to a health care plan that has greater sustainability. It's still protecting our employees. It is still guaranteeing the health of our employees. But in terms of its financial sustainability is much healthier for the Company. This migration process happens in the beginning of 2025. Anything else?

Now the next question related to divestments. I will talk -- I will turn the floor to Marco Soligo.

Good afternoon. Thank you very much for your question. We are and we are still working and divestments that have not been concluded of Taesa, Belo Monte and also on the consolidation of some minor stake holding or such a sale or acquisition [indiscernible] and others. It will be informed in due time as you always having. That's it.

Thank you, Marco. And now, I will turn the floor to our CEO Reynaldo Passanezi.

Good afternoon, Carol. If I well understood, as a question about privatization, right? Yes, we have been receiving notices. And we are talking to the controlling shareholder, the Economic Development Secretariat, they are asking questions in terms of the rules that apply in a possible process of control transfer. And we are supporting all the questions that we received from the Economic Development Secretariat and as a representative of Minas Gerais administration.

Next question is from Guilherme Lima from Santander. Please, Guilherme, you may ask your question.

Good afternoon, everyone. I would like to make a quick follow-up in the post time post-employment, I believe -- you will have a discussion and on a ruling next week, you're already talking to the union for a possible negotiation and agreement or you wait until you go to court? And how is the union behaving in this negotiation? And another question is regarding volumes of exposure in terms of differences of the sub-markets. You mentioned in the release 120 megawatts, with a negative effect of BRL20 million. I would like to understand that volume in the first quarter of 2025. And how do you expect this will affect the prices?

About post deployment. But the Company not only is open to negotiation as it has always been. During the lawsuit that ended with the rolling of the labor court. And also, after the victory that we had in the superior labor law, we are not waiting the ruling next week to negotiate. We are already contacting the union, and we are available to receiving the proposals that the union may want to send our way.

And our next question regarding energy trading is going to be answered by Marcos Vinicius. He is the superintendent of planning for the trading company, please, Marcus.

Good afternoon, Guilherme. Thank you for your question. Yes, we do have that exposure to price differences. You follow the portfolio that we have with the resources of renewable energy in the Southeast and Northeast, but a higher amount in the Northeast. And we do have an exposure annually of around 800 average megawatts and that is seasonalized. In the first quarter, we have something close to 700 average megawatts that is under that exposure.

Thanks, Marcos. Now we are going to move towards the end of our video conference of the fourth quarter of 2024. I will turn the floor to our CFO and IR Officer, Andrea Almeida Marcus for her final remarks. Please Andrea.

I would like to thank you all very much for being with us, for your questions. We are here all year around and with the whole IR team to share our results and everything that's happening in the Company or challenges and opportunities to share all that with you. Please feel free to make contact and to talk to us and we are open to talk to you at any time, whether by the team or the conference calls that we will be at. So have nice afternoon, and thank you very much.