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D5 Avenida Engenheiro Luis Carlos Berrini 1,376 32º floor São Paulo BR 04571-936 David Melcon Sanchez-Friera +55 11 3430 3687 ir.br@telefonica.com Avenida Engenheiro Luis Carlos Berrini 1,376 São Paulo BR 04571-936 Common Shares, without par value VIVT3 NYSE American Depositary Shares (as evidenced by American Depositary Receipts), each representing two Common Shares VIV NYSE 3195606352 Yes No Yes Yes Large Accelerated Filer false true false International Financial Reporting Standards false 1351 true <div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Enterprise Risk Management</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">In accordance with our principles of corporate governance and responsible business practices, we have adopted a structured approach to identify, assess, monitor, and manage relevant risks to which we are exposed. This approach aims to support decision-making, strategy execution, and the protection of the Company's long-term value, recognizing that risk management is a shared responsibility throughout the organization.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">The Board of Directors holds overall responsibility for overseeing our enterprise risk management framework, including risks related to cybersecurity. According to its internal regulations, the Board delegates more detailed oversight of risk management processes, internal controls, and contingency plans to the Audit and Control Committee. The Audit and Control Committee supports the Board by periodically assessing the adequacy and effectiveness of these systems and processes.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">To support these oversight activities, an independent Corporate Risk Management area has been established, integrated into the internal audit structure. This area is responsible for overseeing the implementation of corporate risk management processes, as well as for supporting, coordinating, and promoting compliance with the guidelines defined in our corporate risk management policy, as approved by the Board of Directors.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">Our corporate risk management model is based on widely recognized market methodologies, including the framework from the Committee of Sponsoring Organizations of the Treadway Commission (COSO ERM). This approach seeks to align risk management with corporate strategy, allowing for the identification, prioritization, and monitoring of key risks, as well as the development of responses and mitigation actions in a coordinated and consistent manner.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">The internal audit regularly reports to the Audit and Control Committee information regarding the status of identified key business risks, including those related to cybersecurity, as well as the evolution of controls and associated mitigation actions. However, despite the existence of this governance structure and adopted processes, we cannot assure that all risks will be identified or mitigated in a timely or comprehensive manner.</span></div> <div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">The Board of Directors holds overall responsibility for overseeing our enterprise risk management framework, including risks related to cybersecurity. According to its internal regulations, the Board delegates more detailed oversight of risk management processes, internal controls, and contingency plans to the Audit and Control Committee. The Audit and Control Committee supports the Board by periodically assessing the adequacy and effectiveness of these systems and processes.</span></div> Board of Directors According to its internal regulations, the Board delegates more detailed oversight of risk management processes, internal controls, and contingency plans to the Audit and Control Committee. The Audit and Control Committee supports the Board by periodically assessing the adequacy and effectiveness of these systems and processes. <div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Cybersecurity Risk Management Model</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">For cybersecurity risks, we maintain structured processes for the assessment, classification, and treatment of risks, integrated into our corporate risk management framework. These processes aim to identify, based on scenarios and factors inherent to our activities, threats that may significantly impact our operations, IT environment, customer data, and corporate information.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">Our model seeks to ensure that the area responsible for cybersecurity risk management can continuously assess the nature and materiality of baseline risks and define, on a case-by-case basis, response strategies consistent with our risk appetite and the catalog of technology services we utilize. When deemed relevant, these risks are submitted to the appropriate governance bodies for analysis and deliberation.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">Cybersecurity risks identified as high or critical are reported to the management responsible for the respective risk area, as well as to the executive cybersecurity risk committee, which meets periodically to monitor such exposures. This committee is composed of senior management members, including executives responsible for technology, risk, internal controls, and information security, and aims to support awareness and decision-making regarding prevention, mitigation, and incident response measures.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">Cybersecurity risks that meet the defined materiality thresholds outlined in our internal policies are consolidated into corporate risk management reports and, where applicable, presented to the audit committee, the control committee, and the board of directors, in accordance with our governance structures. This process is designed to provide visibility, at different hierarchical levels, regarding cybersecurity risks that may significantly impact our business, operational results, or financial condition.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">Despite these processes and the adoption of technical and organizational controls, we cannot guarantee that all cybersecurity risks will be fully eliminated or that we will not experience significant incidents in the future. Cybersecurity events, including those arising from internal failures, third parties, or malicious agents, may lead to operational disruptions, loss or improper disclosure of data, reputational damage, additional remediation costs, litigation, regulatory sanctions, and other significant adverse impacts.</span></div> <div style="margin-bottom:10pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:140%">For cybersecurity risks, we maintain structured processes for the assessment, classification, and treatment of risks, integrated into our corporate risk management framework. These processes aim to identify, based on scenarios and factors inherent to our activities, threats that may significantly impact our operations, IT environment, customer data, and corporate information.</span></div> true true true PricewaterhouseCoopers Auditores Independentes Ltda. 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2273834000 7032339000 6691098000 4358276000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i737c25a0375b48d6ad4f893b05c3e303"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">1. OPERATIONS</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i50f22ac785cb427b8fe0ed5d840a18bd"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">1.a. Background information</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Telefônica Brasil S.A. (the “Company“ or “Telefônica Brasil“) is a publicly traded company whose main activities are the operation of communications and telecommunications services; as well as the development of any and all activities necessary or useful for the execution of these services, including the leasing, sharing and assignment of infrastructure, and may also perform the following activities: (a) operation of value-added services, development, provision, distribution and marketing of digital services, as well as audio, video, image, text and application content over the internet in any medium, including advertising and publicity materials; and (b) operation of integrated solutions, management, provision of services and consulting related to: (i) data center, including hosting and colocation; (ii) storage, processing and management of data, information, texts, images, videos, applications and information systems and the like; (iii) connectivity, internet of things, information technology, networks, systems analysis and development, programming, configuration and the like; (iv) information and communication security; (v) communications and telecommunications; (vi) electronic security systems related to theft, intrusion, fire and others, surveillance, security, tracking and remote or non-remote monitoring; (vii) maintenance, repair, technical assistance and technical support in computer science and any machines and equipment; (viii) artificial intelligence and blockchain; and (ix) intelligence in data management (Big Data), among others.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's principal offices are located at 1376, Engenheiro Luís Carlos Berrini Avenue, in the city and State of São Paulo, Brazil. It is a member of the Telefónica Group (“Group“), based in Spain which operates in several countries across Europe and Latin America.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, Telefónica S.A. (“Telefónica“), the Group holding company, held a total direct and indirect interest in the Company </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">of 77.13%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (76.30% on December 31, 2024) Note 24.a.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company is registered with the Brazilian Securities Commission (“CVM“) and its shares are traded on the B3. It is also registered with the U.S. Securities and Exchange Commission (“SEC“) and its American Depositary Shares (“ADSs“), backed by its common shares, are traded on the New York Stock Exchange ("New York Stock Exchange"–“NYSE“).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i01832632b4c140c0a663b97d92d43c92"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">1.b. Operations</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company renders the following services: (i) Fixed Switched Telephone Service Concession Arrangement (“STFC“); (ii) Multimedia Communication Service (“SCM“, data communication, including broadband internet); (iii) Personal Mobile Service (“SMP“); (iv) Conditioned Access Service (“SEAC“ – Pay TV); (v) Private Limited Service (“SLP“) and (vi) Global Mobile Satellite Service (“SMGS”), throughout Brazil, through concessions and authorizations, in addition to other activities.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Service authorizations are granted by Brazil's Telecommunications Regulatory Agency (“ANATEL“), the agency responsible for the regulation of the Brazilian telecommunications sector under the terms of Law No. 9472 of July 16, 1997 – General Telecommunications Law (“</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">Lei Geral das Telecomunicações</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">“ – LGT). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Although the Company has authorizations to provide various services regulated by ANATEL, certain modalities are subject to more specific regulatory frameworks, especially regarding the rules for granting and extending licenses. Due to these particularities, the following topics delve deeper into the regulatory aspects applicable to SMP and STFC.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Personal Mobile Service - SMP</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Before Law no. 13.879 / 2019 came into effect, authorizations for the use of radio frequencies were commonly granted for fifteen years and could be extended only once, for the same term. Following the normative changes in the aforementioned Law, successive extensions of authorization grants were allowed, though the current terms were only clarified by Decree no. 10.402/2020 which detailed the requirements related to the new successive extension regime; the current authorizations are also covered by the new regime.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Decree defined ANATEL's parameters for evaluating the scope of extension requests, such as ensuring the efficient use of radio frequencies, competitive aspects, meeting the public interest and fulfilling obligations already assumed with ANATEL.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">According to the interpretation of the Federal Audit Court (“TCU”), requests for extension are assessed through a new spectrum bidding process; ANATEL can only approve the extension request if the provider proves compliance with the conditions set forth in the Decree.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For radio frequency usage authorizations acquired prior to the 5G auction held in 2021, every two years, after the first extension, the Company must pay a fee equivalent to 2% of the revenue earned through the provision of the SMP in the year prior to the payment, net of applicable taxes and social contributions (note 23.), and, for certain terms, in the 15th year the Company must pay the equivalent of 1% of its revenue in the previous year. The calculation will consider the net revenue resulting from the application of the Basic and Alternative Service Plans. In authorizations issued in the 700MHz, 2100MHz, 2500MHz sub-bands and in part of the 900/1800MHz authorizations, the calculation of the fee also applies to the remuneration for network use (interconnection). Although the radio frequency usage fee is, by regulatory mandate, charged biennially, the Company holds authorization agreements with expiration dates distributed between even and odd years. Consequently, even though each agreement generates an obligation only every two years, the set of agreements in force results in annual payments, concentrated in the month of April, due to the alternating expiration dates between the different authorization cycles.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In July 2018, ANATEL published Resolution No. 695 with a new regulation on public spectrum pricing. This Resolution established new criteria for the costs of extending licenses. The formula takes into account factors such as the length of the authorization, revenue earned in the region, and the amount of spectrum used by the provider. In addition, part of the payment may be converted into investment commitments. However, the applicability of the calculation methodology contained in the aforementioned Resolution in specific cases of authorization extensions depends on ANATEL's assessment. In this sense, it is important to clarify that ANATEL has been evaluating the definition of new criteria for applying the valuation calculation in extensions of authorizations. Still within this context, ANATEL submitted for public consultation, in November 2023, the revision of the Spectrum Usage Regulation (“RUE”), approved by Resolution No. 671, of November 3, 2016. The draft proposal submitted by ANATEL revokes Resolution No. 695/2018 and directly consolidates in the RUE the rules associated with the valuation of authorizations for the use of the radio frequency spectrum, also establishing as the standard methodology for this purpose the discounted cash flow method at net present value (“VPL”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The table below provides a summary of the authorizations held by the Company for each sub-range used in the SMP, along with the events that occurred in 2025 related to their respective renewals, where applicable.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:11.543%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.756%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.313%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.266%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Subband-Radio Frequency</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Geographic coverage</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Comments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Expiration of authorizations</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">700 MHz</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">National</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2029</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">850 MHz(1)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">National (except AL, CE, PB, PE, PI e RN)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">GO (sector 24 of PGO); MS (sector 21 of the PGO); MG (PGO sector 2); RS (sector 29 of the PGO) and SP (except sector 33 of the PGO)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2028</span></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">900 MHz</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">MG, AM, RR, AP, PA, MA, BA, SE and SP (except area 11)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Authorizations arising from the acquisition of part of Oi's Mobile Assets UPI in 2022</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2031-2032</span></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.800 MHz</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">National (except MG)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2032</span></td></tr><tr style="height:32pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">National (except area 43 - PR)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Authorizations arising from the acquisition of part of Oi's Mobile Assets UPI in 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2031-2032</span></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">900 MHz / 1.800 MHz</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">MG (sector 3 PGO)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2035</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">MG (sector 2 PGO)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2032</span></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.100 MHz(2)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">National</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2038</span></td></tr><tr style="height:50pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ES, MG, AM, AP, PA, MA, RR, AL, CE, PB, PE, PI, RN, AC, RO, MT, MS, TO, GO, DF, SP (except sector 33 of PGO), RS , PR and SC</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Authorizations arising from the acquisition of part of Oi's Mobile Assets UPI in 2022</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2038</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.300 MHz</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">RJ, SP, ES, MG, AM, AC, AP, RR, RO, TO, PA, MT, MS, GO and DF</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">SP (except sector 33 PGO); MG (sector 2 PGO); MS (sector 21 PGO) and GO (sector 24 PGO)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2041</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.500 MHz</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">National</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">—</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2027-2031</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3.500 MHz</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">National</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2041</span></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">26 GHz</span></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">National</span></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2041</span></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:6pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:140%">(1) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:140%;text-decoration:underline">850 MHz Authorizations renewal</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:140%">: In accordance with the provisions of Ruling No. 618, of November 26, 2020, ANATEL extended, until November 29, 2028, the terms of authorization for use of the 850 MHz sub-bands held by the Company in the states of São Paulo, Mato Grosso, Acre, Rondônia and Mato Grosso do Sul (except sector 22), whose terms ended, respectively, in January, March, July, July and September 2024. As for the other authorizations in 850 MHz, ANATEL determined that the amount due for the extension should be calculated based on net present value (“NPV”) parameters, in order to reflect, according to ANATEL, the real economic value (market value) of the sub-bands.</span></div><div style="margin-bottom:10pt;padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:140%">(2) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:140%;text-decoration:underline"> 2,100 MHz Authorizations renewal: </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:140%">In April 2023, ANATEL decided to renew our current authorizations for the use of 2,100 MHz radio frequencies until April 2038 and submitted its decision to TCU review. As these were first-time renewal requests provided for in the contracts and bidding processes that originally granted these authorizations, TCU’s technical division did not identify evidence of nonrational or inappropriate use of these bands by the Company that would justify denying the extensions. However, they highlighted the need to adapt Article 31 of Resolution No. 757/2022 to align with the new proposed maximum validity terms. On February 3, 2025, Resolution No. 757/2022 was revoked by Resolution No. 773/2025, which approved new Regulation for Radio Frequencies Conditions of Use. On February 5, 2025, TCU approved the renewal of 2,100 MHz authorizations, as originally proposed by ANATEL. This approval was formalized through Ruling No. 224/2025 (“Acórdão nº 224/2025 – TCU – Plenário”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Switched Fixed Telephone Service (STFC)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The STFC concession model, adopted in 1998 with the signing of contracts resulting from the privatization of the telecommunications sector, brought about a true revolution in the provision of telecommunications services in Brazil. Over the course of more than twenty years, concessionaires promoted the expansion and universalization of fixed-line telephone service, which, before privatization, was expensive, elitist and left consumers waiting in long queues, lasting months or years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On the other hand, on October 4, 2019, Law 13.879/2019 (resulting from PLC 79/2016) was published, introducing changes to the telecommunications regulatory framework by allowing fixed-line telephone concessionaires to migrate from a concession regime to an authorization regime subject to lower regulatory burdens, including those associated with the continuity and universalization of STFC in the concession area, as well as possible restrictions on the assets associated with its provision.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On November 27, 2024, the proposal for the Terms and Conditions of the Self-Composition Agreement for Adaptation of the STFC Concession Contracts (“Agreement”) to an authorization instrument was approved by the TCU Plenary, and the Agreement was signed on December 16, 2024. The Terms include, among others: (i) investments by the Company, in the manner, conditions and terms established in this Agreement, in exchange for the adaptation; (ii) maintenance of the STFC service in locations lacking adequate competition within the service area of the STFC Concession contracts that will be terminated, until December 31, 2028; (iii) termination of administrative and judicial proceedings directly related to the STFC concession (Note 20.); and (iv) withdrawal by the Company of the arbitration proceeding on the Concession.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The execution of projects related to items (i) and (ii) totals a NPV of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$4.5</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> billion. The investments will be made in the manner established in the Agreement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On April 11, 2025, the Company signed the Single Authorization Term with ANATEL. Concluding the final stage for the adaptation of the STFC Concession regime and thereby, transferring the Company to the private STFC Authorization regime.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Risks Relating to the Brazilian Telecommunications Industry and the Company</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's business is subject to extensive regulation, including any regulatory changes that may occur during the terms of the concession agreements and the Company's authorizations to provide telecommunication services in Brazil. ANATEL, oversees, among other matters: industry policies and regulations; licensing (including licensing of spectrum and bidding processes); fees and tariffs; competition, incentives and competitive aspects (including the Company's ability to grow by acquiring other telecommunications businesses); service, technical and quality standards; consumer rights; penalties and other sanctions related to interconnection and agreements; in addition to related obligations to the universalization of services. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Brazilian telecommunications regulatory framework is continuously evolving. The interpretation and enforcement of regulations, the assessment of compliance with regulations and the flexibility of regulatory authorities are all marked by uncertainty. The Company operates under authorizations and a concession from the Brazilian government, and the ability to maintain these authorizations and concession is a precondition to the Company's success. However, because of the changing nature of the Brazilian regulatory framework, the Company cannot guarantee that ANATEL will not adversely modify the terms of the Company's authorizations and/or licenses. Accordingly, the Company's operating authorizations and licenses, must meet specific requirements and maintain minimum quality, coverage and service standards. Any failure to comply with these requirements may result in the imposition of fines, penalties and/or other regulatory responses, including the termination of the Company's operating authorizations and concession. Any partial or total termination of any of the Company's operating authorizations and licenses or the Company's concession would have a material adverse effect on the Company's business, financial condition, revenues, results of operations and prospects. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In recent years, ANATEL has been reviewing and introducing regulatory changes, especially with regard to asymmetric competition measures and interconnection fees charged between local telecommunications service providers. Asymmetric competition measures may include regulations aimed at rebalancing markets where one or more participants hold significantly different market power over other competitors.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Under ANATEL's regulatory agenda for the 2023-2024 biennium, a Public Consultation was launched in November 2023 regarding the revision of the General Competition Goals Plan ("PGMC"), approved by the Resolution no. 600, of November 8, 2012 and updated by Resolution no. 694, of July 17, 2018, which concentrates, in a single normative instrument, a set of specific measures aims at promoting competition and establishes the milestones for future reassessments of the performance of sectoral competition. This review, which takes place every four years and began with the publication of public consultation no. 64, of November 6, 2023, is dedicated to the reassessment of relevant markets in the sector, asymmetric regulatory measures and power holders of Significant Market (“PMS”), previously established by the regulation itself.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">After approval by ANATEL's Board of Directors, the new PGMC was published by Resolution No. 783, of September 3, 2025, meeting the deadline set out in ANATEL's regulatory agenda for the 2025-2026 biennium (discussed in Public Consultation No. 46, of September 11, 2024 and approved by ANATEL Internal Resolution No. 399/2024, of December 30, 2024), which indicated final approval for the second half of 2025.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As previously mentioned, also in November 2023, ANATEL submitted for public consultation the revised Spectrum Use Regulations ("RUE"), approved by Resolution No. 671 of November 3, 2016. The new wording proposed by ANATEL includes, among other changes, new rules for granting secondary spectrum use authorizations, as well as changes to ANATEL's procedures for assessing efficient spectrum use. The expectation is that the new RUE will be published in the first half of 2026.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">It is important to highlight that the acquisition of the mobile assets of Oi Móvel S.A. by the leading operators in the Brazilian SMP market (Vivo, Claro and TIM), raised competition concerns by ANATEL and CADE, which imposed regulatory remedies in order to foster market competition, among which: (i) Reference Offer in the Relevant National Roaming Market; (ii) Reference Offer for developing Personal Mobile Service – SMP through Virtual Network MVNO – (“ORPA de MVNO”); (iii) Offer of Temporary and Onerous Assignment of Radio Frequency Use Rights; and (iv) Industrial Network Exploration Offer.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As to the Reference Offer of Wholesale National Roaming Products (“National Roaming ORPA”), the regulatory remedy uses as a reference the values approved and calculated by ANATEL, based on a new methodology for the roaming market cost model (LRIC + bottom-up model – Act No. 8822/2022). As a result of the change in the methodology, the new reference values were significant reduced (FAC-HCA top-down model – Act No. 9157/2018).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As to the Offers, as mentioned above, specifically the MVNO ORPA and the National Roaming ORPA (“ORPAs”), these were being debated within the scope of ANATEL for the following concepts: (i) Requirement of Exclusivity of Contracting Companies: ANATEL decided, for MVNO LTRO, that the exclusivity requirement violates Res. 550/2010 and therefore cannot be maintained as a condition. For the Roaming LTRO, exclusivity may only be required in cases of contracting (a) National Roaming under an Industrial Exploration regime and (b) conventional National Roaming (transitional use) only on the 5GSA network; and (ii) Collection of Minimum Monthly Deductible: ANATEL decided that in both LTROs the minimum monthly deductible cannot be charged for a period of five years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company currently has contracts signed with the possibility of charging the minimum monthly franchise both in the National Roaming market and in the MVNO market, so that current contracts, depending on the contracting companies, can be migrated to the new updated offers.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The maintenance of these remedies will be reassessed during the PGMC review process. They had been considered for inclusion in the new PGMC and were included in the draft regulation subject to public consultation No. 64/2023. However, the approved regulation does not consider the remedies related to MVNO ORPA and spectrum sharing, as the Board of Directors determined that there were no market failures or competition issues that would justify them. For the National Roaming ORPA, price control using the LRIC+ Bottom-Up Cost Model was maintained.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Generally, the adoption of disproportionately asymmetric measures and adoption by ANATEL of concepts, prices and remuneration models may impact remuneration and costs, with detrimental effects on the business, financial condition, revenues, results operations and the Company’s prospects.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Regarding interconnection fees, these form the basis of the Company's revenue and costs. These fees are charged between telecommunications service providers to allow and compensate for the interconnected use of their networks. To the extent that changes in the rules on interconnection fees reduce the amount of fees the Company can receive or charge, the Company's business, financial condition, revenues, results of operations, and prospects could be adversely affected.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In addition, the Company may be affected by changes in rules and regulations aimed at preserving the rights of consumers of telecommunications services. ANATEL published, in November 2023, the new General Regulation on Consumer Rights (“RGC”), through Resolution No. 765/2023, which came into force on September 1, 2025, replacing Resolution No. 632/2014. This new Regulation changed some provisions such as the way in which telecommunications services are offered, in addition to updating/modernizing some customer service rules. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Therefore, the Company's business, results of operations, revenues and financial conditions could be negatively affected by the actions of the Brazilian authorities, including, in particular, the following: the introduction of new or less flexible operational and/or service requirements; the granting of operating licenses in the Company's areas; limitations on interconnection fees the Company can charge to other telecommunications service providers; imposition of significant sanctions or penalties for failure to comply with regulatory obligations; delays in the granting of, or the failure to grant, approvals for rate increases; and antitrust limitations imposed by ANATEL and CADE.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Finally, there is also the risk that the Company will not be successful in future tenders to be carried out by ANATEL regarding the acquisition of new authorizations for the use of radio frequencies. The Board of Directors of ANATEL, through Ruling No. 148/2024, determined that ANATEL's Superintendencies adopt the necessary measures for the publication, by December 31, 2025, of a new Notice for the bidding procedure regarding to the 700 MHz subband. A draft of the Bidding Notice was approved by the ANATEL Board of Directors in July 2025, and the matter is expected to be reviewed by the Federal Court of Accounts in February 2026. Therefore, a new bidding process for this sub-band is expected in 2026. Furthermore, through Resolution No. 785/2025, ANATEL approved a plan for conducting bidding processes for radio frequency usage authorizations, with different time horizons up to 2036.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i71b5219004db4539bd130e95504d0505"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">1.c. Corporate events in 2025</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span id="id4364012e800496ea6f8fd922c602dfa"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">1.c.1. Business Combination - Acquisition of Samauma Brands Comércio, Importação e Exportação de Eletro-Eletrônicos Ltda. ("Samauma") by Terra Networks Brasil Ltda. ("Terra Networks")</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On March 21, 2025, Terra Networks, a direct subsidiary of the Company, completed the acquisition of all shares of Samauma for up to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$66,451</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, subject to meeting agreed operational and financial metrics (“Transaction”). This amount includes a non-compete agreement that was recognized separately from the business combination at a fair value of R$7,290. The remaining purchase price R$59,161 was allocated to the net assets acquired, excluding the non-compete agreement, which was recognized as an intangible asset. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Samauma was founded in 2012 and is engaged in marketing a broad portfolio of smartphone accessories and electronics under the "i2GO" brand with high-quality, high-performance and affordable products. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Transaction documents contain terms and conditions common to this type of operation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Transaction is part of the Company's strategy to strengthen its presence in the market for accessories for smartphones and other electronic devices, operating with its own brand, OVVI, committed to offering innovative and high-quality products, strategically positioning to meet the needs of the constantly evolving market. Following the acquisition, the OVVI and i2GO brands will coexist complementing each other in terms of portfolio and market positioning.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">With the completion of the Transaction, as of March 21, 2025, Terra Networks now has direct control of Samauma.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Pursuant to IFRS 3, business acquisitions are accounted for using the acquisition method in which the consideration transferred is measured at fair value comparing this to the fair values of the assets acquired and liabilities assumed and the equity interests issued.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At the date of these consolidated financial statements of the Company, Terra Networks had already completed the report for the purchase price allocation ("PPA"), through the analysis of the fair value determination of the identifiable assets acquired and liabilities assumed from Samauma.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The assumptions, critical judgments, methods and hypotheses used to determine these fair values were as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Brand</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The “royalty relief” approach was used to assess the brand ("i2GO"), which consists of estimating the cash flows that the Company would otherwise pay for royalties to third parties to use the brand, assuming that it was not owned by the Company. The projected flows correspond to the amounts that would be paid based on a royalty rate applied to i2Go's net revenue over the estimated useful life of the brand.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main assumptions used in the assessment of the brand were: (i) Projected net revenue over </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">5.0</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> years (2025 to 2029); (ii) Royalty rate applied: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2.00</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">%, according to maturity of the years; (iii) Discount rate (net WACC + Premium): </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">18.13</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">% per year; </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(iv) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Tax rate (tax factor): 34% and; (v) Estimated useful life: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">5.0</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> years, with projections limited to the considered flow horizon.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value of the brand was estimated at R$5,460, with an amortization period of 5 years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Commercial Relationship (Points of Sale)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the evaluation of the commercial relationship, the MPEEM (“Multi-period Excess Earnings Method”) was used, which estimates the value of the intangible asset based on the excess earnings specifically attributable to the points of sale, after deducting the returns from other contributing assets necessary to generate these cash flows, over its estimated useful life.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main assumptions used in the evaluation of the commercial relationship were: (i) revenues: for portfolio projection purposes, we considered the net recurring revenue for the year </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The average customer retention rate was calculated, as well as the evolution of average revenue per customer in the periods. The portfolio decline (“churn”) was estimated based on historical revenues </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(2021, 2022, 2023, 2024 e 2025)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in an increasing manner. (ii) Deductions and Costs/Expenses: Deductions from gross revenue were projected according to actual applicable tax rates, substantially sales or service taxes. Costs/expenses were projected by comparing historical data and forecasting improvements in gross margin through actions to contain fixed costs over time; (iii) Tax rate: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">34%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, in accordance with Brazilian tax legislation; and (iv) Discount rate (“WACC”) after taxes: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">18.13%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As a result of the calculation described, the fair value of the business relationship was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$14,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, with an amortization period of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">8</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">Contingent Liabilities</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Pursuant to IFRS 3, the acquirer recognizes, on the acquisition date, contingent liabilities assumed in a business combination even if outflows of resources are not probable for settlement of the obligation, provided that it is a present obligation arising from past events and its fair value can be measured reliably. Contingent liabilities with a fair value of R$2,462 were recognized for this acquisition, which were determined based on the estimated cash outflow for their settlement on the acquisition date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">Composition of the fair value of the net assets acquired</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below is a summary of the composition of the fair value of the net assets acquired in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$20,571</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, as well as the goodwill generated on the acquisition date, is as follows:</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.239%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.101%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">21,120</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,513</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">292 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,736 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Accounts receivable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,295 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,777 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,533 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,576</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">32,540</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,923 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.09pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,857 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income tax and social contribution and collection</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">238 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Property, plant and equipment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">217 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred income tax and social contribution</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,535 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.09pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Intangible assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,466 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions for contingencies</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,819 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,061 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of liabilities assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">33,089</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of net assets acquired</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,571</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Goodwill</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">38,590</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of assets acquired</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">53,660</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total consideration</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">59,161</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the allocation of the fair value attributed to the indemnification asset related to the liabilities, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This includes the allocation of the fair value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$5,460</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> attributed to the brand, and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$14,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> attributed to the Commercial Relationship.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This includes the allocation of the fair value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$2,462</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to deferred income tax and social contribution, net of deferred taxes, on allocations of indemnification assets and contingent liabilities.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the premium value determined in the acquisition of Samauma, considering the expected future synergies from combining the acquired company's businesses, which may be used for tax purposes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Non-compete agreement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the non-compete agreement, recognized separately from the business combination, the income approach was used, based on the “with and without” contract method (“with/without”). Potential losses of net revenue associated with the sellers' performance as competitors were considered, projecting two scenarios: one with the agreement in force and one without.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main assumptions used in the assessment of the non-compete agreement were: (i) Revenue Reduction Capacity: from </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">15.0% (2025)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">25.0% (2026)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to 0.00% (2034); (ii) Probability of Competition: from </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">10.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (2025), </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">50.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (2026) to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">0.00%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (2034); (iii) Probable Revenue Loss: from </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">1.5% (2025)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">12.5% (2026)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">0.00%)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, according to the intersection of the factors above; and (iv) Discount rate (WACC): </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">18.08</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">% per year; and (v) Perpetual growth rate: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">4.0%.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value of the non-compete agreement was estimated at R$7,290, with an amortization term of 4 years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Other information</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The adjusted total purchase consideration will not exceed R$66,451, with payment made as follows: (i) R$22,000 paid in cash, upon completion of the Transaction and; (ii) the balance of R$44,451 will be paid in accordance with contractual clauses, accruing Interbank Deposit Certificate ("CDI") interest rate between the closing date of the transaction and 10 days before the actual payment. Of this balance, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$25,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> refers to the contingent consideration, conditional upon achieving performance targets, as per contractual clauses.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value of accounts receivable totals R$10,295, which does not differ from the book value, consisting of a gross amount of R$11,081, net of estimated losses for impairment in the amount of R$786.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">From the acquisition date through to the date of these financial statements, Samauma contributed R$41,996 for the Company's consolidated net operating revenue and a loss of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$6,217</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to the Company's results</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span id="i47c0f3d341384286ab3379a11d657e31"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">1.c.2. Business Combination - Acquisition of controlling interest in Fibrasil Infraestrutura e Fibra Ótica S.A. ("FiBrasil") by the Company</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On July 10, 2025, the Company informed its shareholders and the market in general that it had entered into a Share Purchase Agreement (“SPA”) with Caisse de dépot et placement du Québec (“La Caisse”, formerly “CDPQ”) and Fibre Brasil Participações S.A. (“Fibre Brasil” and, together with La Caisse, “Grupo La Caisse”), which governs the terms and conditions for the Company's acquisition of all shares issued by FiBrasil held by Grupo La Caisse, representing 50% of FiBrasil's total share capital, as well as subscription warrants issued by FiBrasil (“Transaction”). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">FiBrasil operates in the wholesale neutral and independent fiber optic network sector in the Brazilian market. The Company will continue to expand its presence in the fiber market, focusing on improving the customer experience while contributing to the digitalization of the country.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Transaction was subject to the satisfaction of certain usual conditions precedent for this type of operation, including prior approval by CADE and ANATEL. On October 14, 2025, ANATEL granted prior approval to the Transaction. On October 23, 2025, CADE approved the Transaction without restrictions. After obtaining the regulatory approvals and fulfilling the other precedent conditions, on November 12, 2025, the Transaction was completed. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The signing of the SPA, as well as the terms and conditions of the Transaction, were approved by the Company's Board of Directors. The Company submitted the ratification of the Transaction to the general shareholders' meeting, pursuant to article 256, II of the Brazilian Corporations Law. Consequently, the approval of the transaction by the General Meeting will also give rise to the right of withdrawal for the Company's shareholders who dissent from the resolution (note 36.a).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The acquisition value of the Transaction, updated by the Interbank Deposit Certificate (“CDI”) rate on a pro rata daily basis, as provided in the SPA, was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$858,002</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, paid on November 12, 2025, in a single installment by the Company to the La Caisse Group. The subscription warrants previously issued by FiBrasil were canceled upon the closing of the Transaction.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company already held a </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">25.01%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> stake in FiBrasil's capital and, with the completion of the Transaction, the Company became the direct controlling shareholder of FiBrasil, holding </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">75.01%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> of its total share capital. Telefónica Infra S.L. Unipersonal retains a </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">24.99%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> stake. According to IFRS 3, this acquisition qualifies as a business combination achieved in stages and, in turn, requires the fair value remeasurement of the previously held investment.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value, on the acquisition date, of the equity interest that the Company held in FiBrasil was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$372,251, determined based on the acquisition price adjusted for the control premium</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. Given that the recorded book balance was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$243,501</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the Company recorded a fair value remeasurement gain on the investment of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$128,750</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, accounted for in the "Other Operating Revenues/Expenses" line item, note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">27</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">According to IFRS 3, the transferred consideration will be measured at fair value, which is calculated by summing the fair values of the transferred assets, the liabilities assumed on the acquisition date with the former controlling shareholders of the acquired entity, and the interests issued in exchange for control of the acquired entity.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the allocation of non-controlling shareholders' interests, the Company opted, as permitted by IFRS 3, for the current proportional allocation conferred by equity instruments in the recognized amounts of FiBrasil's identifiable net assets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Upon completion of the Transaction, effective November 12, 2025, the Company became the direct controlling shareholder of FiBrasil.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As of the date of these consolidated financial statements, the Company is in the final stages of preparing the appraisal report for the allocation of the purchase price (“PPA”), through the analysis of the fair value determination of the identifiable assets acquired and liabilities assumed from FiBrasil. It is estimated that this final analysis will be completed as soon as Management has all relevant information regarding the facts, not exceeding a maximum period of 12 months from the acquisition date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As of December 31, 2025, the Company's consolidated financial statements includes the preliminary PPA allocations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The assumptions, critical judgments, methods, and hypotheses used by the Company to determine these fair values were as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Property, plant and equipment and intangible assets</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value of property, plant and equipment and intangible assets was assessed based on the application of the Direct Market Comparison Method (“DCDM”) and the Cost Quantification Method.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The DCDM method was used to assess movable and immovable property, as it allows for the estimation of fair value through comparison with recent sales and market prices of similar assets, adjusted for factors such as age, state of conservation, usability, type of sale and, in the specific case of real estate, the region in which they are located.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Cost Quantification Method consisted of identifying the replacement cost or reproduction cost (“RCN”) of the assets, through the application of the direct and indirect methods.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For movable assets, the RCN was considered based on investments estimated by FiBrasil's engineering department, while the indirect cost method was applied to assets not covered by the direct cost. The adjustment factors and price indices used in the estimates were derived from inflation indices published by the Brazilian Institute of Geography and Statistics (“IBGE”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As a result of the calculation described, the fair value of the fixed and intangible assets was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$1,615,657</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, with depreciation and amortization periods that follow the useful life of the assets evaluated.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Contingent Liabilities</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">According to IFRS 3, the acquirer must recognize, on the acquisition date, contingent liabilities assumed in a business combination even if it is not probable that outflows of resources will be required to settle the obligation, provided that it is a present obligation arising from past events and its fair value can be reliably measured. Meeting the aforementioned requirements, contingent liabilities were recognized in this acquisition at a fair value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$24,065</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, which were determined based on the estimated cash outflow for their settlement on the acquisition date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">Composition of the fair value of the net assets acquired</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below is a preliminary summary of the fair value composition of the net assets acquired in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$798,779</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, as well as the goodwill generated on the acquisition date, subject to further adjustments upon completion of the work:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.118%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.819%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.978%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">218,901</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">182,541</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">78,044 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Accounts receivable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">104,694 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">77,551 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">36,163 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Personnel, charges and social benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">47,271 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Suppliers</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">47,200 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,853,812</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,320 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:14.17pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Deferred income tax and social security contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">61,199 </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 15.17pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,291 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,091,393</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:14.17pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Property, plant and equipment</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,735,838</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">903,964 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:14.17pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Intangible assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">46,484</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">150,687 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Provisions for contingencies</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25,593 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Personnel, charges and social benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,987 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,162 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Net assets acquired</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">798,779</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Goodwill</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">631,169</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-controlling interest</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(199,695)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Portion of the Company's previous holding, remeasured at fair value.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(372,251)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value of assets acquired</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,072,713</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total consideration</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">858,002</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) Includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$8,182</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of deferred income tax and social contribution on the allocation of fair value attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2) Includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$159,285</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of the allocation of fair value attributed to fixed asset items. It also includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$166,665</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> in right of use assets.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3) Includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$2,105</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of the allocation of fair value attributed to intangible assets.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4) Includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$24,065</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of the fair value attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5) Refers to the goodwill value determined in the acquisition of FiBrasil.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">Other Information</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value of accounts receivable totals </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$104,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, which does not differ from the book value, which consists of a gross value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$105,563</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, net of estimated impairment losses of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$869</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">From the acquisition date to the completion of these consolidated financial statements, FiBrasil contributed R$4,620 for the Company's consolidated net operating revenue and a net income of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$4,515</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to the Company's consolidated results.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span id="i6c5666f38684413599649a972cba9ea4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">1.c.3. Business Combination - Acquisition / PPA and Merger of IPNET Serviços em Nuvem e Desenvolvimento de Sistemas Ltda. (“IPNET”) and Acquisition of IPNET USA, LLC (“IPNET USA”) by Telefônica Cloud e Tecnologia do Brasil S.A. (“CloudCo Brasil”)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Acquisition / Purchase Price Allocation (PPA)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On July 22, 2024, CloudCo Brasil, a directly controlled subsidiary of the Company, entered into a share purchase agreement and other agreements for the acquisition of all issued shares of IPNET Serviços em Nuvem e Desenvolvimento de Sistemas Ltda. (“IPNET”) and IPNET USA, LLC (“IPNET USA”) (“Transaction”), for a value of up to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$223,799</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, conditional upon the achievement of certain operational and financial metrics. This value includes a non-compete agreement that was recognized separately from the business combination at a fair value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$26,964</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The remaining purchase price </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$196,835</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> was allocated to the net assets acquired, excluding the non-compete agreement, which was recognized as an intangible asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The IPNET Group engages in, among other activities, the resale of software and systems, as well as the provision of professional and managed services for adaptation, migration, and related support.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Transaction documents contain terms and provisions common to this type of transaction, and its completion was subject to the fulfillment of certain precedent conditions, including obtaining authorization from CADE and implementing a corporate reorganization involving the incorporation of the companies Metarj Soluções em Geotecnologia e Desenvolvimento de Sistemas Ltda. (“Metarj”) and XL Solutions Ltda. (“XL”) by IPNET.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The aforementioned precedent conditions were met with the final and unappealable decision by CADE, dated September 3, 2024, which approved the Transaction without restrictions through Concentration Act No. 08700.005417/2024-69; and the corporate reorganization with the incorporations of Metarj and XL by IPNET, which occurred in September 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">With the completion of the Transaction, effective October 1, 2024, CloudCo Brasil became the direct controlling shareholder of IPNET.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Transaction expanded CloudCo Brasil's product portfolio and strengthened its professional and managed services, enabling its acceleration and growth. The investment also reinforces the Company's digital ecosystem in the B2B business, with advancements in innovative solutions.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">According to IFRS 3, business acquisitions are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated by summing the fair values of the assets transferred, the liabilities assumed at the acquisition date with the former controlling shareholders of the acquired company, and the interests issued in exchange for control of the acquired company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At the date of these consolidated financial statements of the Company, CloudCo Brasil had already completed the report for the purchase price allocation ("PPA"), through the analysis of the fair value determination of the identifiable assets acquired and liabilities assumed from IPNET.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The assumptions, critical judgments, methods, and hypotheses used by CloudCo Brasil to determine these fair values were as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Brand</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For brand valuation, a profitability approach ("Income approach") was used, employing the relief from royalties method. This method assumes that the intangible asset has a fair value based on royalty income and represents the savings of the asset owner – the owner does not need to pay royalties to a third party for the license to use the intangible asset. Management's intention at the time of acquiring the stake was to utilize the acquired company's know-how and its ability to implement the new business model.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main assumptions used in the brand valuation were: (i) Revenue: the valuation of the intangible asset was based on net revenue projections supported by the entity's historical growth, without the synergy of the IPNET acquisition; (ii) Royalty rate: according to research conducted at the time, we observed that the internet services market used an average royalty rate of approximately 1% on net revenue; (iii) Costs and Expenses related to the brand: a percentage of 10% of net revenue was considered for royalties for brand maintenance, such as marketing expenses and others; (iv) Tax rate: 34%, according to Brazilian tax legislation; and (v) Discount rate (“WACC”) after taxes: 18.23%.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As a result of the calculation described, the fair value of the brand was R$10,099, with an amortization period of 5 years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Customer Portfolio</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The customer portfolio was valued using the Multi-period Excess Earnings Method (“MEEM”). This method for valuing the customer portfolio was used due to the possibility of directly attributing the generated cash flow to the identified asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main assumptions used in the valuation of the customer portfolio were: (i) Revenue: for portfolio projection purposes, we considered the net recurring revenue for the year 2024. The average customer retention rate was calculated, as well as the evolution of average revenue per customer over the periods. The portfolio decline (“churn”) was estimated at 20%; (ii) Deductions and Expenses: deductions from gross revenue were projected according to actual applicable tax rates, substantially sales or service taxes. Costs and expenses were projected by comparing historical data and forecasting improvements in gross margin through actions to contain fixed costs over time; (iii) Tax rate: 34%, according to Brazilian tax legislation; (iv) Discount rate (“WACC”) after taxes: 18.23%.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As a result of the calculation described, the fair value of the customer portfolio was R$28,619, with an amortization period of 5 years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Contingent Liabilities</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">According to IFRS 3, the acquirer must recognize, on the acquisition date, contingent liabilities assumed in a business combination even if it is not probable that outflows of resources will be required to settle the obligation, provided that it is a present obligation arising from past events and its fair value can be reliably measured. Meeting the above requirements, contingent liabilities at a fair value of R$8,964 were recognized in this acquisition, which were determined based on the estimated cash outflow for their settlement on the acquisition date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">Composition of the fair value of the net assets acquired</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below is a summary of the composition of the fair value of the net assets acquired in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$20,436</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, as well as the goodwill generated on the acquisition date:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.239%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.101%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">31,206</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">35,867</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,063 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accounts receivable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,177 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,804 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,016 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">110,320</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">135,417</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,500 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">95,634 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income tax and social contribution and collection</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,123 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Property, plant and equipment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,065</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred income tax and social contribution</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,187 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Intangible assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">38,718</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions for contingencies</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,716 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,794 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of liabilities assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">146,187</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of net assets acquired</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,436</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Goodwill</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">176,399</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of assets acquired</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">166,623</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total consideration</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">196,835</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the allocation of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$95,634</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of the fair value attributed to the indemnification asset related to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the allocation of fair value attributed to intangibles of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$38,718</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">, being: (i) brand </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(R$10,099)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">; and (ii) customer portfolio </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(R$28,619)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to deferred income tax and social security contributions on the allocation of fair value attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This includes the allocation of the fair value attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the goodwill value determined in the acquisition of IPNET, considering the expected future synergies from combining the acquired company's businesses, which may be used for tax purposes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Non-compete Agreement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the non-compete agreement recognized separately from the business combination, the income approach was used, based on the "with/without" method. This method consists of projecting the expected cash flows for the two scenarios: one with the non-compete agreement and the other without the non-compete agreement. The cash flow without the non-compete agreement considers a revenue loss rate and a probability of the potential competitor effectively competing with the Company. The difference between the cash flows of the two scenarios, which corresponds to the loss avoided by the non-compete agreement, is brought to present value by the specific rate of return for this asset and compared with the present value of the original cash flow (without revenue loss).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main assumptions used in the assessment of the non-compete agreement were: (i) Revenue Reduction Capacity: from </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">15.0% (2024)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">25.0% (2025)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">10.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (2033); (ii) Probability of Competition: from </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">10.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (2024), </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">50.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (2025) to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">30.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (2033); (iii) Probable Revenue Loss: from </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">1.5% (2024)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">12.5% (2025)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">3.0% (2033)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, according to the intersection of the factors above; and (iv) Discount rate (WACC): </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">18.2%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> per year; and (v) Perpetual growth rate: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">3.5%.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As a result of the calculation described, the fair value of the non-compete agreement was R$26,964, with an amortization period of 6 years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Other information</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The total consideration amount was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$196,835</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, with payment made as follows: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$33,043</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> paid in cash upon completion of the Transaction, and the remaining balance of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$163,792</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> is being paid according to contractual clauses, updated by the variation in the IPCA/SELIC rate. Of this balance, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$140,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> refers to the contingent consideration, conditional upon achieving performance targets, as per contractual clauses.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value of accounts receivable totals </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$27,177</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, which does not differ from the book value, which consists of a gross value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$31,714</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, net of estimated impairment losses of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$4,537</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Merger of IPNET by CloudCo Brasil</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On November 3, 2025, the Company informed its shareholders and the market in general that, on November 1, 2025, CloudCo Brasil merged IPNET, which was consequently extinguished (“Merger”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Merger consisted of a corporate and operational reorganization aimed at promoting administrative and economic benefits through the simplification of operational structures, reduction of costs related to the operations and activities carried out by IPNET and CloudCo Brasil, and leveraging internal synergies. In addition, the Merger was carried out based on the book value of IPNET’s net assets and did not result in any changes to CloudCo Brasil’s share capital or to the Company’s equity interest in CloudCo Brasil.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Finally, as a consequence of the Merger, CloudCo Brasil succeeded IPNET in all of its assets, liabilities, rights, and obligations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Since IPNET and CloudCo Brasil were already within the Company's consolidation perimeter and there was no participation from any other company, this merger did not cause any impact on the Company's consolidated financial statements.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i355f24008d8346cd8a8d2f377c46774d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">1.c.4. Corporate Reorganization of Investees - VivaE and Vivo Ventures</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On October 6, 2025, the Company informed its shareholders and the market in general that, on that same date, it concluded a corporate reorganization involving its stake in VivaE Educação Digital S.A. (“VivaE” and “Transaction”), a company jointly owned by the Company and Ânima Holding S.A. The Transaction consisted of the contribution of all of the Company's VivaE shares to the Vivo Ventures Multistrategy Investment Fund for Foreign Investment - Limited Liability (“Vivo Ventures”), as a way of paying for part of the quotas already subscribed by the Company in said fund, representing, therefore, a contribution of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$17,375</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, according to an independent valuation by a specialized company. Vivo Ventures is a private equity fund held by the Company, as the majority shareholder, together with Telefónica Open Innovation, S.L. The book value of the investment that the Company held in Vivo Ventures on the date of this corporate reorganization was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$11,222</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, generating an investment gain of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$6,153</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, Notes 12.c and 27.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Continuing the Operation, on November 25, 2025, VivaE entered into a business combination agreement with Ada Tecnologia e Educação S.A. (“Ada”), a company specializing in providing services and developing solutions focused on teaching programming and technology in the B2B business, thus allowing VivaE and Ada to generate synergies and be closer to strategic partnerships in this business.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As a result of this corporate reorganization, the Company ceased to hold a stake in VivaE and, after the necessary capital contributions to Vivo Ventures (98.00)%, retained the same stake in Vivo Ventures, Note 12.b.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i4d5c79b54fa84fdba168398a72267239"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">1.c.5. Structuring of the Vivo Pay III Investment Fund in Credit Rights Limited Liability ("Vivo Pay III")</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On November 7, 2025, the automatic registration of Vivo Pay III was completed with the CVM, as a closed-end fund with an indefinite duration. Vivo Pay III may be liquidated by resolution of the general meeting in accordance with its regulations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The purpose of Vivo Pay III is to provide its quota holders with the appreciation of their shares through the investment of its net assets in the acquisition of: (i) eligible credit rights, formalized by supporting documents that meet the eligibility criteria and assignment conditions, and (ii) financial assets, in compliance with all portfolio composition and diversification indexes of the fund.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The acquisition of eligible credit rights and other financial assets will originate from credit and financing transactions carried out electronically by the Company’s customers under the Vivo Pay program, exclusively through the electronic platform made available by the Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Vivo Pay III began its operations on November 24, 2025, issuing </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (two thousand) junior subordinated quotas with an initial unit nominal value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$1,000.00</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (one thousand reais).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span id="iac06ab05fb014d3583566889c965e250"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">1.c.6. Acquisition of Telefônica Cibersegurança e Tecnologia do Brasil Ltda. (“CyberCo Brasil”) by Telefônica Infraestrutura e Segurança Ltda. (“TIS”), an indirect subsidiary (Business Combination)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 9, 2025, the Company informed its shareholders and the market in general that, on that same date, its indirect subsidiary Telefônica Infraestrutura e Segurança Ltda. (“TIS”) has completed, with Telefónica Cybersecurity &amp; Cloud Tech, S.L. (“TTech”), company belonging to the Telefónica S.A. Group,the acquisition of all shares issued by Telefônica Cibersegurança e Tecnologia do Brasil Ltda. (“CyberCo Brasil”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">CyberCo Brasil offers integrated cybersecurity and information security solutions, including devices, networks, cloud, identity management, incident and vulnerability response, as well as consulting, projects, and software and hardware resale.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The transaction aims to expand the portfolio of information security solutions, optimize service offerings, accelerate launches, integrate the sales force, and reinforce the growth strategy in customer-focused digital solutions.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The total price paid for the acquisition of all shares of CyberCo Brasil was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$232,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, conditional upon the achievement of certain financial metrics.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The documents formalizing the transactions contain terms and provisions common to this type of operation and do not depend on obtaining any regulatory authorizations or approvals in addition to those already obtained in accordance with the Company's internal governance. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Considering that business combinations between entities under common control have not yet been specifically addressed by IFRS Accounting Standards, an entity is required to apply the hierarchy set forth in paragraphs 10-12 of IAS 8 to choose the accounting policy to be adopted.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">An entity may therefore choose to account for combinations between entities under common control using the acquisition method based on IFRS 3 or the predecessor value method.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">This Transaction, which, as described above, involves companies under common control, was accounted for at the carrying amount of the net assets acquired (“Predecessor Value Method”). Consequently, the difference between the consideration given in exchange for the equity interest obtained and the value of the net assets acquired was recorded in TIS's equity as “Other capital reserves”.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">With the completion of the acquisition, as of December 9, 2025, CyberCo Brasil became directly controlled by TIS and indirectly controlled by the Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The results and statement of financial position of CyberCo Brasil are incorporated in this financial statements prospectively from the date on which the business combination between entities under common control occurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the composition of the book value of the identifiable net assets acquired in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$59,603</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.118%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:37.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.978%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">139,392</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">96,083</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,583 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Suppliers</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,629 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Accounts receivable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">65,574 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Provision for contingencies</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,821 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41,235 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,633 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,322</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">28</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 15.17pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Deferred income tax and social security contributions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,656 </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">28 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">   Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,283 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 15.17pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Property, plant and equipment</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,155 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 15.17pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Intangible assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Value of assets acquired</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">155,714</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Value of identifiable net assets acquired</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">59,603</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Other Information</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Transaction values were recognized in the TIS as follows: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$59,603</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, for the initial recognition of the investment in CyberCo Brasil's equity and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$168,729</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in other capital reserves; offset by </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$16,332</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, for the present value of the financing with TTech (amount relating to the contingent consideration, conditional upon achieving performance targets, as per contractual clauses) and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$212,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in cash, for the payment made to TTech.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">From the acquisition date to the completion of these consolidated financial statements, CyberCo Brasil contributed R$442 for the Company's consolidated net operating revenue and a loss of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">(R$3,875)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to the Company's consolidated result.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The value of accounts receivable totals </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$65,574</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and there are no estimated impairment losses provisioned.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i3303bb80c2674d78896682cb587d002e"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">1.c.7. Share buyback program / Capital Reductions / Reverse Stock Split and Stock Split</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The corporate events relating to the Company's equity are described in notes 24.a.1 - Capital Reductions; 24.a.2 - Share Consolidation and Splitting; and 24.b - Share Repurchase Program.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ie4e7857c46bc4a449cb6aec60542b586"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">1.d. Tax Reform on consumption</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 20, 2023, Constitutional Amendment (“EC”) No. 132 was enacted, establishing the Consumption Tax Reform (“Reform”). To initiate the process of regulating the constitutional amendment, Complementary Law No. 214/2025 (“LC”) was sanctioned by the President of the Republic on January 16, 2025. Additionally, on January 13, 2026, Complementary Law No. 227/2026 was approved, which, among other topics, creates the IBS management committee, regulates tax litigation, and establishes rules for the administration of the new taxes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Reform model is based on a dual VAT divided into two jurisdictions, one federal (Contribution on Goods and Services - CBS) and one sub-national (Tax on Goods and Services - IBS), which will replace the PIS, COFINS, ICMS and ISS taxes. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">A Selective Tax (“IS”) under federal jurisdiction, which will be levied on the production, extraction, marketing or import of goods and services that are harmful to health and the environment, under the terms of the LC, and there is an express provision that the IS will not apply to telecommunications services. There will be a transition period from </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2026 to 2032</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, during which the two tax systems (old and new) will coexist.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In 2026, it will be necessary to highlight CBS (0.9%) and IBS (0.1%) for statistical purposes. Consequently, there will be no collection or financial impact. The Company is prepared to issue and receive tax documents highlighting IBS and CBS. Only from January 2027 onwards will the new taxes begin to financially impact the Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">It is worth noting that the impacts of the Tax Reform will only be fully known after the other stages of legal and sub-legal regulation, which may include the enactment of new ordinary laws (federal, state and municipal), decrees, normative instructions and technical notes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Since the changes will be applied prospectively, has not effect of the Reform on the financial statements as of December 31, 2025.</span></div> 0.7713 0.7630 4500000000 66451000 7290000 59161000 2.00 18.13 34 P5Y 5460000 P5Y 0.34 0.1813 14000000 P8Y 2462000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">Composition of the fair value of the net assets acquired</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below is a summary of the composition of the fair value of the net assets acquired in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$20,571</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, as well as the goodwill generated on the acquisition date, is as follows:</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.239%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.101%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">21,120</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,513</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">292 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,736 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Accounts receivable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,295 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,777 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,533 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,576</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">32,540</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,923 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.09pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,857 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income tax and social contribution and collection</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">238 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Property, plant and equipment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">217 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred income tax and social contribution</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,535 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.09pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Intangible assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,466 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions for contingencies</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,819 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,061 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of liabilities assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">33,089</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of net assets acquired</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,571</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Goodwill</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">38,590</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of assets acquired</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">53,660</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total consideration</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">59,161</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the allocation of the fair value attributed to the indemnification asset related to the liabilities, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This includes the allocation of the fair value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$5,460</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> attributed to the brand, and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$14,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> attributed to the Commercial Relationship.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This includes the allocation of the fair value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$2,462</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to deferred income tax and social contribution, net of deferred taxes, on allocations of indemnification assets and contingent liabilities.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the premium value determined in the acquisition of Samauma, considering the expected future synergies from combining the acquired company's businesses, which may be used for tax purposes.</span></div> 20571000 21120000 13513000 292000 9736000 10295000 3777000 10533000 19576000 32540000 2923000 12857000 238000 217000 3535000 19466000 7819000 5061000 33089000 20571000 38590000 53660000 59161000 5460000 14000000 2462000 0.150 0.250 0.0000 0.100 0.500 0.0000 0.015 0.125 0.0000 0.1808 0.040 7290000 P4Y 66451000 22000000 44451000 25000000 10295000 11081000 786000 41996000 -6217000 0.50 858002000 0.2501 0.7501 0.2499 372251000 243501000 128750000 1615657000 24065000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">Composition of the fair value of the net assets acquired</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below is a preliminary summary of the fair value composition of the net assets acquired in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$798,779</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, as well as the goodwill generated on the acquisition date, subject to further adjustments upon completion of the work:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.118%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.819%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.978%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">218,901</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">182,541</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">78,044 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Accounts receivable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">104,694 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">77,551 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">36,163 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Personnel, charges and social benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">47,271 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Suppliers</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">47,200 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,853,812</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,320 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:14.17pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Deferred income tax and social security contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">61,199 </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 15.17pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,291 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,091,393</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:14.17pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Property, plant and equipment</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,735,838</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">903,964 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:14.17pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Intangible assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">46,484</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">150,687 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Provisions for contingencies</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25,593 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Personnel, charges and social benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,987 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,162 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Net assets acquired</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">798,779</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Goodwill</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:700;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">631,169</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-controlling interest</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(199,695)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Portion of the Company's previous holding, remeasured at fair value.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(372,251)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value of assets acquired</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,072,713</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total consideration</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">858,002</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) Includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$8,182</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of deferred income tax and social contribution on the allocation of fair value attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2) Includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$159,285</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of the allocation of fair value attributed to fixed asset items. It also includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$166,665</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> in right of use assets.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3) Includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$2,105</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of the allocation of fair value attributed to intangible assets.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4) Includes </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$24,065</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of the fair value attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5) Refers to the goodwill value determined in the acquisition of FiBrasil.</span></div> 798779000 218901000 182541000 78044000 199000 104694000 77551000 36163000 47271000 47200000 1853812000 10320000 61199000 10291000 1091393000 1735838000 903964000 46484000 150687000 25593000 9987000 1162000 798779000 631169000 199695000 372251000 2072713000 858002000 8182000 159285000 166665000 2105000 24065000 104694000 105563000 869000 4620000 4515000 223799000 26964000 196835000 0.01 0.10 0.34 0.1823 10099000 P5Y 0.20 0.34 0.1823 28619000 P5Y 8964000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">Composition of the fair value of the net assets acquired</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below is a summary of the composition of the fair value of the net assets acquired in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$20,436</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, as well as the goodwill generated on the acquisition date:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:33.239%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.101%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">31,206</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">35,867</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,063 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accounts receivable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,177 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,804 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,016 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">110,320</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">135,417</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,500 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">95,634 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income tax and social contribution and collection</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,123 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Property, plant and equipment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,065</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred income tax and social contribution</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,187 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Intangible assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">38,718</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions for contingencies</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,716 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,794 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of liabilities assumed</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">146,187</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of net assets acquired</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,436</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Goodwill</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">176,399</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Fair value of assets acquired</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">166,623</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total consideration</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">196,835</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the allocation of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$95,634</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> of the fair value attributed to the indemnification asset related to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the allocation of fair value attributed to intangibles of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$38,718</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">, being: (i) brand </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(R$10,099)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">; and (ii) customer portfolio </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(R$28,619)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to deferred income tax and social security contributions on the allocation of fair value attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This includes the allocation of the fair value attributed to the contingent liability, which is being updated by the SELIC rate.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">This refers to the goodwill value determined in the acquisition of IPNET, considering the expected future synergies from combining the acquired company's businesses, which may be used for tax purposes.</span></div> 20436000 31206000 35867000 13000 3063000 27177000 32804000 4016000 110320000 135417000 2500000 95634000 38123000 1065000 12187000 38718000 32716000 24794000 146187000 20436000 176399000 166623000 196835000 95634000 38718000 10099000 28619000 0.150 0.250 0.100 0.100 0.500 0.300 0.015 0.125 0.030 0.182 0.035 26964000 P6Y 196835000 33043000 163792000 27177000 31714000 4537000 17375000 11222000 6153000 -0.9800 2000 1000 232000000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the composition of the book value of the identifiable net assets acquired in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$59,603</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.118%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:37.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.978%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">139,392</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">96,083</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,583 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Suppliers</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,629 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Accounts receivable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">65,574 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Provision for contingencies</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,821 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41,235 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,633 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,322</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">28</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 15.17pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Deferred income tax and social security contributions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,656 </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">28 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.09pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">   Other assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,283 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 15.17pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Property, plant and equipment</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,155 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 15.17pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Intangible assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Value of assets acquired</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">155,714</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Value of identifiable net assets acquired</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">59,603</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 59603000 139392000 96083000 32583000 55629000 65574000 1821000 41235000 38633000 16322000 28000 3656000 28000 6283000 5155000 1228000 155714000 59603000 59603000 168729000 16332000 212000000 442000 -3875000 65574000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i9633568bc313458f87a7a79d0d650738"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">2. BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic0a13e9628d14a4c99d369cb076f4e4d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">2.a. Statement of compliance</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The consolidated financial statements were prepared and are being presented in accordance with the IFRS Accounting Standards as issued by the International Accounting Standards Board.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i4d9625a5fc8a4f1185fcedc01ee8947b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">2.b. Basis of preparation and presentation</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The financial statements were prepared on a historical cost basis (except where different criteria are required) and adjusted to reflect the valuation of assets and liabilities measured at fair value or considering the mark-to-market valuation when such valuations are required by IFRS Accounting Standards.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company prepared the consolidated financial statements based on the assumption of operational continuity.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">An asset is classified as current when it meets any of the following criteria: (a) it is expected to be realized, or is intended to be sold or consumed, in the normal course of the entity's operating cycle; (b) it is held primarily for the purpose of being traded; (c) it is expected to be realized within twelve months after the balance sheet date; or (d) it is cash or a cash equivalent, unless its exchange or use to settle a liability is prohibited for at least twelve months after the balance sheet date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">A liability is classified as current when it meets any of the following criteria: (a) it is expected to be settled during the entity's normal operating cycle; (b) it is held primarily for the purpose of being traded; (c) it is expected to be settled within twelve months after the balance sheet date; or (d) the entity does not have the right, at the balance sheet date, to defer settlement of the liability for at least twelve months after that date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The only exception relates to the balances of deferred tax assets and liabilities, which are classified and fully shown as non-current.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Statements of Cash Flows were prepared in accordance with IAS 7 and reflect the changes in cash that occurred in the years presented, using the indirect method.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Due to the reverse stock split and stock split processes that occurred in 2025, described in note 24.a.2), the comparative information as of December 31, 2024 and 2023, relating the number of shares presented in Note 24, as well as the calculation of basic and diluted earnings per share, disclosed in the income statements and in Note 24.i, has been adjusted.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Board of Directors authorized the issuance of this consolidated financial statements at the meeting held on February 12, 2026.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i95dc4dbadd3042b89aaafef91518de44"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">2.c. Functional and reporting currency </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company’s financial statements for the years ended December 31, 2025, 2024 and 2023 are presented in thousands of Brazilian Real/Reais (R$) (unless otherwise mentioned). The Company's functional and presentation currency is the Real (R$). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Transactions in foreign currency are converted into the Real as follows: (i) assets, liabilities and equity (except share capital and capital reserves) are converted at the closing exchange rate on the balance sheet date; (ii) expenses and revenues are converted at the average exchange rate, except for specific operations that are converted at the rate on the date of the transaction; and (iii) share capital and capital reserves are converted at the rate on the date of the transaction.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Gains and losses resulting from the conversion of investments abroad are recognized in the statement of comprehensive income. Gains and losses resulting from the conversion of monetary assets and liabilities between the exchange rate in force on the date of the transaction and the end of the years (except the conversion of investments abroad) are recognized in the statement of income.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifd3d20a10964456bb598685449f92dd4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">2.d. Basis of consolidation</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In the financial statements, the investment and all asset and liability balances, income and expenses arising from transactions and equity interests in subsidiaries are eliminated in full. Investments in jointly controlled companies are maintained using the equity method in the consolidated financial statements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Significant information on the investees is presented in Note 12.b.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i2117b2d50a69492c8cd126c5d7b79a47"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">2.e. Segment reporting </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated on a regular basis by the chief operating decision maker in determining how to allocate resources to an individual segment and in evaluating the segment's performance. Considering that: (i) all decisions are made based on consolidated reports; (ii) the mission of the Company and its subsidiaries is to provide its customers with quality telecommunications services; and (iii) all decisions relating to strategic, financial planning, purchasing, investments and application of resources are made on a consolidated basis Management's conclusion is that the Company and its subsidiaries operate in a single operational segment providing services telecommunications.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iddfdef1f642548cab664607e09155ac3"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">2.f. Material accounting practices</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Material accounting policies for the understanding of the basis of recognition and measurement applied in the preparation of the Company's financial statements are included in the respective notes to which they refer.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The accounting policies adopted in the preparation of the consolidated financial statements for the year ended December 31, 2025 are consistent with those used in the preparation of the consolidated annual financial statements for the year ended December 31, 2024 except for the changes required by the new pronouncements, interpretations and amendments, approved by the International Accounting Standards Board (IASB), which are effective from January 1, 2025, as follows:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Amendments to IAS 21 – Effects of changes in exchange rates and conversion of financial statements:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> In August 2023, the IASB amended IAS 21 – Effects of Changes in Exchange Rates and Translation of Financial Statements, adding new requirements to help entities determine whether a currency is convertible into another currency and, when it is not, what spot exchange rate should be used. Prior to these amendments, IAS 21 only specified the exchange rate to be used when the lack of convertibility was temporary.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The adoption of these amendments did not have any impact on the consolidated financial statements in the initial period of adoption (January 1, 2025).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">New IFRS pronouncements, issuances, amendments, and IASB interpretations</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The new standards and interpretations, as well as any amendments issued but not yet in effect as of the date of issuance of the Company's consolidated financial statements, are described below. The Company intends to adopt these new standards, interpretations, and amendments, if applicable, when they become effective.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Amendments to the Classification and Measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> On 30 May 2024, the IASB issued targeted amendments to IFRS 9 and IFRS 7 To address recent practical issues, improve understanding, and include new requirements applicable to companies in general and not just financial institutions, the amendments: (i) clarify the recognition and derecognition dates of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system; (ii) clarify and add further guidance for assessing whether a financial asset meets the criteria for exclusive principal and interest payments (“SPPI”), including situations where a contingent event occurs; (iii) add new disclosures for certain instruments with contractual terms that may alter cash flows (such as some financial instruments with features linked to compliance with environmental, social, and governance targets); and (iv) update disclosures for equity instruments designated at fair value through other comprehensive income (“FVOCI”).. Effective for annual periods beginning on or after 1 January 2026.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Annual Improvements to International Financial Reporting Standards (IFRS) - Volume 11:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> The annual improvements are limited to changes that aim to clarify the wording of some international accounting standards (IFRS Accounting Standards) or correct relatively minor unintended consequences, omissions, or conflicts between the requirements of the international accounting standards (IFRS Accounting Standards). The changes relate to the following standards: (i) IFRS 1 - "Initial Adoption of International Financial Reporting Standards"; (ii) IFRS 7 - "Financial Instruments: Disclosure and Guidance on Implementation of IFRS 7"; (iii) IFRS 9 - "Financial Instruments"; (iv) IFRS 10 - "Consolidated Financial Statements"; (v) IAS 7 - "Statement of Cash Flows"</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Effective for annual periods beginning on or after January 1, 2026. The Company does not expect these changes to have an impact on its financial statements.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">IFRS 18: Presentation and Disclosure in Financial Statements:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> In April 2024, the IASB issued IFRS 18, which replaces IAS 1. IFRS 18 introduces new requirements for presentation within the income statement, including specified totals and subtotals. In addition, entities are required to classify all income and expenses within the income statement into one of five categories: operating, investing, financing, income taxes and discontinued operations.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The standard also requires disclosure of management-defined performance measures, subtotals of income and expenses, and includes new requirements for the aggregation and disaggregation of financial information based on the identified “functions” of the primary financial statements (PFS) and the notes.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">IFRS 18 will take effect for reporting periods beginning on or after January 1, 2027, with early application permitted and subject to disclosure, although early adoption is not permitted in Brazil. IFRS 18 will have retrospective application.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">IFRS 19: Subsidiaries without Public Accountability: Disclosures:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> In May 2024, the IASB issued IFRS 19, which allows eligible entities to elect to apply its reduced disclosure requirements while still applying the recognition, measurement and presentation requirements in other IFRS accounting standards. To be eligible, at the end of the reporting period, an entity must be a subsidiary as defined in IFRS 10, must not have a public accountability and must have a parent (ultimate or intermediate) that prepares consolidated financial statements, available for public use, that comply with IFRS accounting standards.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">IFRS 19 will be effective for reporting periods beginning on or after 1 January 2027, with early application permitted and required to be disclosed, although in Brazil early adoption is not permitted.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company is currently working to identify the impacts that the new standards and amendments will have on the financial statements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company did not early adopt any new accounting statements or interpretations, the application of which is not mandatory.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i3e548754d1554ac4a14f31af7cc12344"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">2.g. Significant accounting judgments estimates and assumptions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The preparation of the financial statements requires the use of certain critical accounting estimates and the exercise of judgment by the Company's Management in applying its accounting policies. These estimates are based on experience, best knowledge, information available at the year end date and other factors, including expectations of future events that are believed to be reasonable in the circumstances. Actual results involving these estimates could differ in values from those recorded in the financial statements due to the criteria inherent in the estimation process. The Company reviews its estimates at least annually.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The significant and relevant estimates and judgments applied by the Company in the preparation of these financial statements are presented in the following notes: corporate events in 2025 (Business Combinations), trade accounts receivable; deferred income and social contribution taxes; property and equipment; intangible assets; impairment of non-financial assets; provision and contingencies; loans and financing, debentures, leases and other creditors; pension plans and other post-employment benefits; and financial instruments and risk and capital management.</span></div> <div style="margin-bottom:10pt;margin-top:20pt"><span id="ib8fa33eafe9e471cb18913ce23ca97c0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">3. CASH AND CASH EQUIVALENTS</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ibeea65fcd64d4d848c04aaea77cd6443"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">3.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are financial assets, measured at amortized cost, maintained in order to meet short-term cash commitments and not for investment or other purposes. The Company and its subsidiaries consider cash equivalents a short-term investment readily convertible into a known amount of cash and subject to insignificant risk of change in value and when redeemable within 90 days.</span></div><div style="margin-bottom:10pt;margin-top:20pt"><span id="if58d5d1182984f0bb1a70ba0834a7f7f"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">3.b. Breakdown</span></div><div style="text-align:justify;text-indent:3.8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.137%"><tr><td style="width:1.0%"></td><td style="width:71.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.378%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.380%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Short-term investments</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,945,770 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,542,862 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash and banks</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">86,569 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">148,236 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,032,339</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,691,098</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Highly liquid short-term investments basically comprise Bank Deposit Certificates ("CDB") and Repurchase Agreements held by top tier rated financial institutions, indexed to the Interbank Deposit Certificate ("CDI") rate, with original maturities of up to three months, and with immaterial risk of change in value. Income from these investments are recorded as financial income. On December 31, 2025, the average remuneration of these short-term investments corresponde</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d to 100.04% of</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> the CDI (99.66% on December 31, 2024).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">On December 31, 2025 and 2024, the Consolidated balances included R$16,694 and R$18,308, respectively, related to the Financial Clearing House, with a Telefónica Group member company (Note 29.).</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ibeea65fcd64d4d848c04aaea77cd6443"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">3.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are financial assets, measured at amortized cost, maintained in order to meet short-term cash commitments and not for investment or other purposes. The Company and its subsidiaries consider cash equivalents a short-term investment readily convertible into a known amount of cash and subject to insignificant risk of change in value and when redeemable within 90 days.</span></div> <div style="margin-bottom:10pt;margin-top:20pt"><span id="if58d5d1182984f0bb1a70ba0834a7f7f"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">3.b. Breakdown</span></div><div style="text-align:justify;text-indent:3.8pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.137%"><tr><td style="width:1.0%"></td><td style="width:71.363%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.378%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.379%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.380%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Short-term investments</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,945,770 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,542,862 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash and banks</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">86,569 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">148,236 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,032,339</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,691,098</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Highly liquid short-term investments basically comprise Bank Deposit Certificates ("CDB") and Repurchase Agreements held by top tier rated financial institutions, indexed to the Interbank Deposit Certificate ("CDI") rate, with original maturities of up to three months, and with immaterial risk of change in value. Income from these investments are recorded as financial income. On December 31, 2025, the average remuneration of these short-term investments corresponde</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d to 100.04% of</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> the CDI (99.66% on December 31, 2024).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">On December 31, 2025 and 2024, the Consolidated balances included R$16,694 and R$18,308, respectively, related to the Financial Clearing House, with a Telefónica Group member company (Note 29.).</span></div> 6945770000 6542862000 86569000 148236000 7032339000 6691098000 1.0004 0.9966 16694000 18308000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i3a120d0805574d9cb49f3658d440f66e"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">4. FINANCIAL INVESTMENTS</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Guarantee for legal proceedings</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42,619 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial applications - LFT(2)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">140,410</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">42,619</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42,619 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refer to amounts of financial investments pledged as guarantees for legal proceedings (notes 20. e 34.b.).</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refer to financial investments in Treasury Financial Bills (“LFTs”), made by the subsidiaries Vivo Pay I Fundo de Investimentos em Direitos Creditórios and Vivo Pay Sociedade de Crédito Direto. They are financial assets measured at fair value through profit or loss.</span></div> <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Guarantee for legal proceedings</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42,619 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial applications - LFT(2)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">140,410</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">42,619</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42,619 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refer to amounts of financial investments pledged as guarantees for legal proceedings (notes 20. e 34.b.).</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refer to financial investments in Treasury Financial Bills (“LFTs”), made by the subsidiaries Vivo Pay I Fundo de Investimentos em Direitos Creditórios and Vivo Pay Sociedade de Crédito Direto. They are financial assets measured at fair value through profit or loss.</span></div> 41308000 42619000 99102000 0 140410000 42619000 99102000 0 41308000 42619000 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i99fe3d7e526b49dd826e042925b2fcfd"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5. TRADE ACCOUNTS RECEIVABLE</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="idb27a53cad6f4710ad66b70f286d7bc4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are financial assets measured initially at fair value and subsequently, at amortized cost and are evaluated by the value of the services provided and goods sold in accordance with the contracted conditions, net of estimated impairment losses. These include the services provided to customers, which were still not billed at the balance sheet date, as well as other trade accounts receivable related to the sale of cell phones, SIM cards, accessories, advertising and rent of IT equipment (“Vivo Tech” product) and credit rights of the Vivo Money FIDC. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company measures the provision for estimated impairment losses in an amount equal to the loss of credit expected for a lifetime.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">With regard to the Vivo Pay FIDCs, whose expected credit loss amounts represent 6.79% and 6.98% of the total consolidated expected credit losses as of December 31, 2025 and 2024, respectively, the assumptions include: (i) stop accrual: for the calculation of the present value of each credit right, interest related to credit operations that are in arrears e</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">qual to or greater than sixty days is no longer recognized; (ii) application of the rating cure methodology: the respective ratings of credit rights with higher risks than the AA level are positively impacted according to the number of days the credit right is in arrears; and (iii) application of the wagon effect: for credit rights of the same debtor, the provision for losses must be measured over the entire expected cash flow of that debtor, taking into account the nature of the transaction and the characteristics of the guarantees, such as sufficiency and liquidity. An impairment loss is calculated as the difference between the carrying amount and the present value of estimated future cash flows discounted at the asset's original effective interest rate. Losses are recognized in profit or loss, and interest on the delinquent asset continues to be recognized for up to 60 days in arrears. When a subsequent event indicates a reversal of the impairment loss, the decrease in the loss is reversed and recorded in profit or loss.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ideb2a3ee4c224870a9c2df5ec09995dc"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.b. Critical estimates and judgments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In determining whether the credit risk of a financial asset has increased significantly since the initial recognition and in estimating the expected credit losses, the Company considers reasonable and bearable information that is relevant and available. This includes quantitative and qualitative information and analysis, based on the Company's historical experience, customer profiles, business models, risk perception, guarantees and economic conditions in credit assessment and considering prospective information. Although the Company believes that the assumptions used are reasonable, the results of the estimates may be different.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="id0cb973bb0dc47aeb67d169787f70a70"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.c. Breakdown</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Services and goods</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,250,210 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,001,308 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Interconnection amounts</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)/(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">634,221 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">632,033 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Vivo Pay I - FIDC</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">348,848 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">360,411 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Amounts from related parties (Note 29)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50,292 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,240 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross accounts receivable</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,283,571</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,056,992</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Estimated impairment losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,380,452)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,215,251)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net accounts receivable</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,903,119</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,841,741</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,619,617 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,471,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">283,502 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">370,149 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The consolidated include R$3,024,347 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$2,752,975</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> to be billed to customers on December 31, 2025 and 2024, respectively. It also includes the amounts of contractual assets (Note 25.a.), shown in item </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">), of this Note.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refer to billed amounts from other telecommunications operators.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The consolidated non-current balances refer to the present value receivable from: (i) resale installments of goods (B2B), with maturities of up to 24 months; (ii) Vivo Tech products, with maturities of up to 60 months; and (iii) the right to credits from the Vivo Pay I FIDC, with maturities of up to 36 months. These values are net of their estimated impairment losses.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, and 2024, no customer represented more than 10% of trade accounts receivable, net.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The following are amounts receivable, by maturity:</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:36.665%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.365%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.365%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.034%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.365%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.038%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Falling due</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,252,301 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,951,826 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Overdue – 1 to 30 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,070,093 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,134,436 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Overdue – 31 to 60 days</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">266,390 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">261,861 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Overdue – 61 to 90 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">127,779 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">212,887 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Overdue – 91 to 120 days</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,929 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">147,320 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Overdue – over 120 days</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">122,627 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">133,411 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,903,119</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,841,741</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i0c14b7df417b4d329ab260b314b6774c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.d. Changes in contractual assets</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:54.647%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Contract assets, gross</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision for losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Contract assets, net</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">117,796</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(24,690)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">93,106</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">342,286 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,787)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">337,499 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(311,114)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(311,114)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">148,968</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(29,477)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">119,491</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">362,389 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">362,389 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs / reversals</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(345,775)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">368 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(345,407)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">165,582</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(29,109)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">136,473</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i82e93e8f973f4bfeb3ee8c6a8d8fd4e8"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.e. Changes in estimated losses for impairment</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.957%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.269%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,437,845)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Supplement to estimated losses, net of reversal (Note 26.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,523,263)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-off</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,750,394 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - IPNET (Note 1.c.3.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,537)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,215,251)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Supplement to estimated losses, net of reversal (Note 26.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,581,337)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-off</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,417,791 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - Samauma (Note 1.c.1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(786)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - FiBrasil (Note 1.c.2)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(869)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,380,452)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="idb27a53cad6f4710ad66b70f286d7bc4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are financial assets measured initially at fair value and subsequently, at amortized cost and are evaluated by the value of the services provided and goods sold in accordance with the contracted conditions, net of estimated impairment losses. These include the services provided to customers, which were still not billed at the balance sheet date, as well as other trade accounts receivable related to the sale of cell phones, SIM cards, accessories, advertising and rent of IT equipment (“Vivo Tech” product) and credit rights of the Vivo Money FIDC. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company measures the provision for estimated impairment losses in an amount equal to the loss of credit expected for a lifetime.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">With regard to the Vivo Pay FIDCs, whose expected credit loss amounts represent 6.79% and 6.98% of the total consolidated expected credit losses as of December 31, 2025 and 2024, respectively, the assumptions include: (i) stop accrual: for the calculation of the present value of each credit right, interest related to credit operations that are in arrears e</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">qual to or greater than sixty days is no longer recognized; (ii) application of the rating cure methodology: the respective ratings of credit rights with higher risks than the AA level are positively impacted according to the number of days the credit right is in arrears; and (iii) application of the wagon effect: for credit rights of the same debtor, the provision for losses must be measured over the entire expected cash flow of that debtor, taking into account the nature of the transaction and the characteristics of the guarantees, such as sufficiency and liquidity. An impairment loss is calculated as the difference between the carrying amount and the present value of estimated future cash flows discounted at the asset's original effective interest rate. Losses are recognized in profit or loss, and interest on the delinquent asset continues to be recognized for up to 60 days in arrears. When a subsequent event indicates a reversal of the impairment loss, the decrease in the loss is reversed and recorded in profit or loss.</span></div> 0.0679 0.0698 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="id0cb973bb0dc47aeb67d169787f70a70"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.c. Breakdown</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Services and goods</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,250,210 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,001,308 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Interconnection amounts</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)/(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">634,221 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">632,033 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Vivo Pay I - FIDC</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">348,848 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">360,411 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Amounts from related parties (Note 29)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50,292 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,240 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross accounts receivable</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,283,571</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,056,992</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Estimated impairment losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,380,452)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,215,251)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net accounts receivable</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,903,119</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,841,741</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,619,617 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,471,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">283,502 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">370,149 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The consolidated include R$3,024,347 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$2,752,975</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> to be billed to customers on December 31, 2025 and 2024, respectively. It also includes the amounts of contractual assets (Note 25.a.), shown in item </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">), of this Note.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refer to billed amounts from other telecommunications operators.</span></div> 12250210000 11001308000 634221000 632033000 348848000 360411000 50292000 63240000 13283571000 12056992000 -2380452000 -2215251000 10903119000 9841741000 10619617000 9471592000 283502000 370149000 3024347000 2752975000 0.10 9252301000 7951826000 1070093000 1134436000 266390000 261861000 127779000 212887000 63929000 147320000 122627000 133411000 10903119000 9841741000 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i0c14b7df417b4d329ab260b314b6774c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.d. Changes in contractual assets</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:54.647%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.271%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Contract assets, gross</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision for losses</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Contract assets, net</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">117,796</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(24,690)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">93,106</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">342,286 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,787)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">337,499 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(311,114)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(311,114)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">148,968</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(29,477)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">119,491</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">362,389 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">362,389 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs / reversals</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(345,775)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">368 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(345,407)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">165,582</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(29,109)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">136,473</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 117796000 -24690000 93106000 342286000 -4787000 337499000 311114000 311114000 148968000 -29477000 119491000 362389000 362389000 345775000 368000 345407000 165582000 -29109000 136473000 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i82e93e8f973f4bfeb3ee8c6a8d8fd4e8"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">5.e. Changes in estimated losses for impairment</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.957%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.269%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,437,845)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Supplement to estimated losses, net of reversal (Note 26.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,523,263)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-off</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,750,394 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - IPNET (Note 1.c.3.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,537)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,215,251)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Supplement to estimated losses, net of reversal (Note 26.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,581,337)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-off</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,417,791 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - Samauma (Note 1.c.1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(786)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - FiBrasil (Note 1.c.2)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(869)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,380,452)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 2437845000 1523263000 1750394000 -4537000 2215251000 1581337000 1417791000 -786000 -869000 2380452000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i412eb66873ed4e8a8fa23c5f5c31180b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">6. INVENTORIES</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5202c282790345fb8e12308e4555beeb"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">6.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are evaluated and presented at the lower of average acquisition cost and net realizable value, whichever is lower. These include resale materials such as cellphones, SIM cards, accessories, consumption materials and maintenance. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs to sell.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Estimated impairment losses are set up for materials and devices considered obsolete or whose carrying amounts are in excess of those usually sold within a reasonable period. Additions and reversals of estimated impairment losses and inventory obsolescence are included in cost of goods sold (Note 26.).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i23b66afc33784c5a897c027565edd6cd"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">6.b. Breakdown</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Materials for resale</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,505,519 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,137,262 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Materials for consumption</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">28,986 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,538 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other inventories</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62,890 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,036 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross inventories</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,597,395</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,196,836</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Estimated losses from impairment or obsolescence</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(121,397)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(99,598)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net total</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,475,998</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,097,238</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are evaluated and presented at the lower of average acquisition cost and net realizable value, whichever is lower. These include resale materials such as cellphones, SIM cards, accessories, consumption materials and maintenance. Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs to sell.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Estimated impairment losses are set up for materials and devices considered obsolete or whose carrying amounts are in excess of those usually sold within a reasonable period. Additions and reversals of estimated impairment losses and inventory obsolescence are included in cost of goods sold (Note 26.).</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i23b66afc33784c5a897c027565edd6cd"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">6.b. Breakdown</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Materials for resale</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,505,519 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,137,262 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Materials for consumption</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">28,986 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,538 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other inventories</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">62,890 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,036 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross inventories</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,597,395</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,196,836</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Estimated losses from impairment or obsolescence</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(121,397)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(99,598)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net total</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,475,998</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,097,238</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1505519000 1137262000 28986000 27538000 62890000 32036000 1597395000 1196836000 121397000 99598000 1475998000 1097238000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="id0a055c8da1345fbb85cbff9b7c20b15"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">7. PREPAID EXPENSES</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Incremental costs in obtaining contracts with customers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,356,376 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,842,824 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Network maintenance and use of third-party software.</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">893,514 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">610,902 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Advertising and publicity</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">176,989 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">203,884 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Personal</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">157,750 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">112,421 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial charges </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">177,199 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">122,325 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Rental, insurance and other </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">148,677 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">61,799 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,910,505</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,954,155</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,414,780 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,868,954 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,495,725 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,085,201 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The incremental costs in obtaining contracts with customers are substantially represented by sales commissions paid to partners for securing customer contracts, according to IFRS 15 and deferred to profit or loss in accordance with the contract term and/or economic benefit to be generated, usually from 2 to 6 years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the movement of incremental costs in obtaining contracts with customers:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,986,764</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,812,437 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs (amortizations)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(956,377)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,842,824</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,787,044 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs (amortizations)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,273,492)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,356,376</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Incremental costs in obtaining contracts with customers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline"> (1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,356,376 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,842,824 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Network maintenance and use of third-party software.</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">893,514 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">610,902 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Advertising and publicity</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">176,989 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">203,884 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Personal</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">157,750 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">112,421 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial charges </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">177,199 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">122,325 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Rental, insurance and other </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">148,677 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">61,799 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,910,505</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,954,155</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,414,780 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,868,954 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,495,725 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,085,201 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The incremental costs in obtaining contracts with customers are substantially represented by sales commissions paid to partners for securing customer contracts, according to IFRS 15 and deferred to profit or loss in accordance with the contract term and/or economic benefit to be generated, usually from 2 to 6 years.</span></div> 3356376000 2842824000 893514000 610902000 176989000 203884000 157750000 112421000 177199000 122325000 148677000 61799000 4910505000 3954155000 2414780000 1868954000 2495725000 2085201000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the movement of incremental costs in obtaining contracts with customers:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,986,764</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,812,437 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs (amortizations)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(956,377)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,842,824</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,787,044 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs (amortizations)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,273,492)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,356,376</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1986764000 1812437000 956377000 2842824000 1787044000 1273492000 3356376000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i090a5ac6c891448187061eff4047edd8"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8. INCOME AND SOCIAL CONTRIBUTION TAXES</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic67a4d9d6d5e465da310b51767fb637a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.a. Accounting policy</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic141bf209b2b42f7acd18bf98215bd68"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.a.1. Current taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Current tax assets and liabilities are measured at the estimated amount recoverable from, or payable to, the tax authorities. The tax rates and laws used in calculating the amounts referred to above are those in effect, or substantially in effect, at year-end. In the balance sheet, current taxes are presented net of prepayments over the year. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Current income and social contribution taxes, related to items directly recognized in equity, are also recognized in equity. Management regularly assesses the tax position in circumstances in which tax regulation requires interpretation and sets up provision therefore when appropriate.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i4b57fd72dbe64e5283c1a2f448a7e202"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.a.2. Deferred taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax is generated by temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax assets are recognized for all deductible temporary differences, unused tax credits and losses, to the extent that taxable profit is likely to be available for realization of deductible temporary differences and unused tax credits and losses are likely to be used, except: (i) when the deferred tax asset related to the deductible temporary difference arises from initial recognition of an asset or liability in a transaction other than a business combination and does not impact, at the transaction date, the book profit, income or loss for tax purposes and does not give rise to equally taxable and deductible temporary differences; or (ii) on deductible temporary differences related to investments in subsidiaries that deferred tax assets are recognized only to the extent that it is probable that temporary differences will be reversed in the near future and taxable profit is likely be available so that temporary differences can be used.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit shall be available to allow all or part of the deferred tax asset to be used. Derecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax liabilities are recognized on all temporary tax differences, except: (i) when the deferred tax liability arises from initial recognition of goodwill, or an asset or liability in a transaction other than a business combination, and does not affect book profit or taxable profit or tax losses on the transaction date and does not give rise to equally taxable and deductible temporary differences; or (ii) on temporary tax differences related to investments in subsidiaries, in which the temporary difference reversal period can be controlled and temporary differences are not likely to be reversed in the near future.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax assets and liabilities are measured at the tax rate expected to be applicable for the year the asset will be realized, or the liability will be settled, based on the rates provided in tax legislation and that were published as at year-end.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax assets and liabilities are not discounted to present value and are classified in the balance sheet as non-current, irrespective of their expected realization.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The tax effects of items recorded directly in equity are also recognized in equity. Deferred tax items are recognized based on the transaction which gave rise to that deferred tax, in comprehensive income or directly in equity.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax assets and liabilities are presented net when there is a legal or constructive right to offset a tax asset against a tax liability and deferred taxes relate to the same taxpaying entity and are subject to the same tax authority.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="icb0cca6768c142faa82ea4dfec21d90d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.a.3. New calculation rule ("Pillar II") - Organization for Economic Co-operation and Development ("OECD")</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 27, 2024, Law 15.079/24 was enacted, establishing an additional Social Contribution on Net Income (“CSLL”) as part of the process of adapting Brazilian legislation to the OECD Global Rules Against Base Erosion (“Pillar II”). According to this law, whenever the Company, adopting the calculation criteria provided therein, determines an effective combined rate of Income Tax and Social Contribution on Net Profit lower than 15%, it must make an additional payment until it reaches this minimum percentage. This rule has been in effect since January 2025, and the The Company will not experience a significant impact from this rule on tax payments as it already complies with the established limits.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Transfer Pricing Rules – Alignment with OECD Standards</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 28, 2022, Law No. 14,596/2023 was published, later regulated by RFB Normative Instruction No. 2,161/2023, which established the new Brazilian Transfer Pricing regime, aligned with OECD guidelines. The new rules became mandatory as of January 1, 2024, and aim to ensure that intercompany transactions are carried out in accordance with the arm's length principle.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company is currently in the process of preparing the analysis for the corresponding fiscal year, including a comparability study, supporting documentation, and a review of applicable methods, as provided for in current legislation. Although the technical process is still under development, the Company does not expect significant impacts from the adoption of the new transfer pricing regime, given the nature of the transactions carried out and the history of compliance with international standards.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company will continue to monitor the application of the regulations and will keep its financial statements updated based on any adjustments identified upon completion of the formal transfer pricing analysis.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="if94f0c8a82454900b927a31fee06cd2f"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.b. Critical estimates and judgments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">There are uncertainties regarding the interpretation of complex tax regulations and the amount and timing of future taxable profits. The Company and its subsidiaries set up provision, based on estimates, for possible consequences of different interpretation by the tax authorities. The amount of this provision is based on various factors, such as previous tax audit experience and different interpretations of tax regulations by the taxable entity and by the relevant tax authority. Such differences in interpretation may arise on a wide variety of issues depending on the conditions prevailing in the respective domicile of the Company or those of its subsidiaries.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries evaluate the recoverability of deferred tax assets based on estimates of future profits. This recoverability ultimately depends on the ability to generate taxable profits over the period in which the deferred tax asset is deductible. The analysis considers the reversal period of deferred tax liabilities, as well as estimates of taxable profits, based on updated internal projections reflecting the latest trends. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Determining the proper classification of the tax items depends on several factors, including an estimate of the period and the realization of the deferred tax asset and the expected date of payments of these taxes. The actual flow of receipt and payment of income tax could differ from estimates made by the Company and its subsidiaries, as a result of changes in tax laws or of unexpected future transactions that may have an impact on tax balances. </span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i87a60ba2c7674330b0326f1c14f69af6"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.c. Income and social contribution taxes recoverable</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income taxes recoverable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">331,342 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">711,237 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social contribution taxes recoverable</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,944 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">141,457 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">356,286</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">852,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i0bbc5414b2934b1784eac249bc73c336"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.d. Income and social contribution taxes payable</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income taxes payable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">301,699 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">170,125 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social contribution taxes payable </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">90,606 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,128 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">392,305</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">225,253</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">130,866 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,898 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">261,439 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">215,355 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The amounts on December 31, 2025 and 2024, include R$269,158 and R$216,497, respectively, referring to taxes covered by IFRIC 23 (Note 8.g.).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i1af95415cefe4db985285cb86a4adbc9"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.e. Deferred taxes</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5c46bb240ce343ce962b4b068da436d3"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.e.1. Breakdown and changes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the composition and movement of the main components of deferred income tax (“IR”) and social contribution (“CS”).</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:13.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.945%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.953%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on 12.31.2023</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Income statement</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Comprehensive income</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">IPNET Business Combination (Note 1.c.3)</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on 12.31.2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Income statement</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Comprehensive income</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Samauma Business Combination (Note 1.c.1)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">FiBrasil Business Combination (Note 1.c.2)</span></td><td colspan="3" style="padding:0 1pt"><span style="font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on </span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Cyber Business Combination (Note 1.c.6)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on 12.31.2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax assets (liabilities)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Income and social contribution taxes on tax losses</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.25pt;font-weight:700;line-height:120%;position:relative;top:-1.75pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,097,731</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(376,950)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,720,781</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(362,749)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">79,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,437,726</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Income and social contribution taxes on temporary differences</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.25pt;font-weight:700;line-height:120%;position:relative;top:-1.75pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(5,339,226)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(77,430)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(149,400)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(12,187)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(5,578,243)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">192,336</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">54,654</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,535)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(18,495)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">3,656</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(5,349,627)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Provision for legal, labor, tax civil and regulatory contingencies</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,390,268 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(321,522)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">19,604 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,088,350 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">49,643 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">837 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">8,702 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,147,532 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Trade accounts payable and other provision</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,895,643 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">465,563 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,361,206 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">606,736 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,454 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">369 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,970,765 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Customer portfolio and trademarks</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(178,158)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">33,959 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(144,199)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">14,105 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(130,094)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Estimated losses on impairment of accounts receivable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">622,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(623)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,542)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">619,881 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">76,303 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">296 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">696,480 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Estimated losses from modems and other P&amp;E items</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">109,985 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">4,794 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">114,779 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,466)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">113,313 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Pension plans and other post-employment benefits </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">364,335 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">30,067 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(149,103)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">245,299 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(64,296)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">30,138 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">211,141 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Profit sharing</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">223,420 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(13,590)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">209,830 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">10,237 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">4,477 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,222 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">226,766 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Licenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(2,366,402)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">157,762 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(2,208,640)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">157,760 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(2,050,880)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Goodwill from incorporated companies (Spanish and Navytree, Vivo Part., GVTPart., Garliava and Vita IT)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(7,443,807)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(234,417)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(7,678,224)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(211,661)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(16,856)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(7,906,741)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Property and equipment of small value</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,190,678)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(56,360)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,247,038)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">12,475 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,234,563)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Technological Innovation Law</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(7,158)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,440 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(5,718)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,422 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(4,296)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">On other temporary differences</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">241,280 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(144,503)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(297)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(30,249)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">66,231 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(458,922)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">24,516 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(4,372)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(17,568)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,065 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(389,050)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Total deferred tax (Liabilities), non-current</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,241,495)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(454,380)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(149,400)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(12,187)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,857,462)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(170,413)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">54,654</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,535)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">61,199</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">3,656</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,911,901)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax assets</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">9,177,084</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">8,947,536</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">9,593,230</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax liabilities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(12,418,579)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(12,804,998)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(13,505,131)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax liabilities, net</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,241,495)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,857,462)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,911,901)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="12" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Represented in the balance sheet as follows:</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax assets of subsidiaries</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">177,245</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">158,215</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">314,284</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax (Liabilities)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,418,740)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(4,015,677)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(4,226,185)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Under Brazilian tax legislation these may be offset up to 30% of the annual taxable income but otherwise have no expiry date.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Amounts that will be realized upon payment of provision, occurrence of impairment losses for trade accounts receivable, or realization of inventories, as well as upon reversal of other provision.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i76d869b074be400da413de2258dfe1fe"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.e.2. Unrecognized tax credits</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025 and 2024, there were unrecognized deferred tax assets for to income tax and social contribution carryforward losses of the Company's subsidiaries (in 2025: POP, Recicla V, TGLog and FiBrasil; and in 2024: POP, Recicla V, TGLog and CloudCo), of R$95,922 and R$12,602 on December 31, 2025 and 2024, respectively, as offset against future taxable profits is not assured.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ie9632c3d20da4c77a299d339cd4749f0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.e.3. Expected realization</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the expected periods for the realization of net deferred taxes, based on projections that may change in the future.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.957%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.269%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Year</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,844,462 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">609,619 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2028</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">261,473 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2029</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">92,491 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2030</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(332,578)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2031 onwards</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(8,387,368)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,911,901)</span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifea29a8c613443a38f1c5a6dc61940c2"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.f. Reconciliation of income tax and social contribution expense</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries recognize income and social contribution taxes on an accrual basis, and pay taxes based on estimates, recorded in a tax auxiliary ledger. Taxes calculated on profits at the balance sheet date are recorded in liabilities or assets, as applicable.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The statutory tax rate is 34% (income tax of 25% and social contribution tax of 9%) for the years ended December 31, 2025, 2024 and 2023.</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:61.687%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.403%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income before taxes</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,270,943 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,763,809 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,573,916 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income and social contribution tax expenses, at the tax rate of 34%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,472,121)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,299,695)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,895,131)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline">Permanent differences</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Tax benefit related to interest on equity allocated</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,145,800 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,055,700 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">881,202 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IR and CS on interest SELIC update of undue debts</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">89,254 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-deductible expenses, gifts, incentives</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(147,708)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(128,670)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(95,677)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Exploration profit</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,412 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">85,369 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">90,258 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity pickup</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6,197)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,479)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,623)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Unclaimed interest on equity</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(14,169)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19,182)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19,253)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred taxes on tax losses, negative basis and temporary differences recognized in subsidiaries</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,469 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">84,274 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other exclusions, net</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">336,114 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">101,480 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">335,757 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax debits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,093,400)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,206,477)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(533,939)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Effective rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15.0 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17.8 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9.6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current income and social contribution taxes</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(922,987)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(752,097)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(665,499)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred income and social contribution taxes</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(170,413)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(454,380)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">131,560 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="if7e9a6b7b3be4530b09188ccc4104479"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.g. Uncertainties about Income tax treatments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries are contesting several assessments filed by the Brazilian Federal Tax Authority (“RFB“) for allegedly incorrect deductions of expenses, mainly related to the amortization of goodwill, at various administrative and judicial levels, of R$40,297,796 and R$36,939,312 on December 31, 2025 and 2024, respectively. The Administration, supported by the opinion of its legal advisors, believes that a large portion of these deductions will likely be accepted in final decisions by higher courts (probability of acceptance greater than 50%). These amounts are adjusted for inflation using the SELIC rate.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When the Company and its subsidiaries believe that the probability of loss is greater than 50%, a non-current tax and social contribution liability is recognized. The amount recognized was R$269,158 and R$216,497 on December 31, 2025 and 2024, respectively. These claims involve compensation for overpayment of income tax and social contribution not approved by the RFB.</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic67a4d9d6d5e465da310b51767fb637a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">8.a. Accounting policy</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic141bf209b2b42f7acd18bf98215bd68"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.a.1. Current taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Current tax assets and liabilities are measured at the estimated amount recoverable from, or payable to, the tax authorities. The tax rates and laws used in calculating the amounts referred to above are those in effect, or substantially in effect, at year-end. In the balance sheet, current taxes are presented net of prepayments over the year. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Current income and social contribution taxes, related to items directly recognized in equity, are also recognized in equity. Management regularly assesses the tax position in circumstances in which tax regulation requires interpretation and sets up provision therefore when appropriate.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i4b57fd72dbe64e5283c1a2f448a7e202"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.a.2. Deferred taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax is generated by temporary differences at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax assets are recognized for all deductible temporary differences, unused tax credits and losses, to the extent that taxable profit is likely to be available for realization of deductible temporary differences and unused tax credits and losses are likely to be used, except: (i) when the deferred tax asset related to the deductible temporary difference arises from initial recognition of an asset or liability in a transaction other than a business combination and does not impact, at the transaction date, the book profit, income or loss for tax purposes and does not give rise to equally taxable and deductible temporary differences; or (ii) on deductible temporary differences related to investments in subsidiaries that deferred tax assets are recognized only to the extent that it is probable that temporary differences will be reversed in the near future and taxable profit is likely be available so that temporary differences can be used.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit shall be available to allow all or part of the deferred tax asset to be used. Derecognized deferred tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax liabilities are recognized on all temporary tax differences, except: (i) when the deferred tax liability arises from initial recognition of goodwill, or an asset or liability in a transaction other than a business combination, and does not affect book profit or taxable profit or tax losses on the transaction date and does not give rise to equally taxable and deductible temporary differences; or (ii) on temporary tax differences related to investments in subsidiaries, in which the temporary difference reversal period can be controlled and temporary differences are not likely to be reversed in the near future.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax assets and liabilities are measured at the tax rate expected to be applicable for the year the asset will be realized, or the liability will be settled, based on the rates provided in tax legislation and that were published as at year-end.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax assets and liabilities are not discounted to present value and are classified in the balance sheet as non-current, irrespective of their expected realization.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The tax effects of items recorded directly in equity are also recognized in equity. Deferred tax items are recognized based on the transaction which gave rise to that deferred tax, in comprehensive income or directly in equity.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Deferred tax assets and liabilities are presented net when there is a legal or constructive right to offset a tax asset against a tax liability and deferred taxes relate to the same taxpaying entity and are subject to the same tax authority.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="icb0cca6768c142faa82ea4dfec21d90d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.a.3. New calculation rule ("Pillar II") - Organization for Economic Co-operation and Development ("OECD")</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 27, 2024, Law 15.079/24 was enacted, establishing an additional Social Contribution on Net Income (“CSLL”) as part of the process of adapting Brazilian legislation to the OECD Global Rules Against Base Erosion (“Pillar II”). According to this law, whenever the Company, adopting the calculation criteria provided therein, determines an effective combined rate of Income Tax and Social Contribution on Net Profit lower than 15%, it must make an additional payment until it reaches this minimum percentage. This rule has been in effect since January 2025, and the The Company will not experience a significant impact from this rule on tax payments as it already complies with the established limits.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Transfer Pricing Rules – Alignment with OECD Standards</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 28, 2022, Law No. 14,596/2023 was published, later regulated by RFB Normative Instruction No. 2,161/2023, which established the new Brazilian Transfer Pricing regime, aligned with OECD guidelines. The new rules became mandatory as of January 1, 2024, and aim to ensure that intercompany transactions are carried out in accordance with the arm's length principle.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company is currently in the process of preparing the analysis for the corresponding fiscal year, including a comparability study, supporting documentation, and a review of applicable methods, as provided for in current legislation. Although the technical process is still under development, the Company does not expect significant impacts from the adoption of the new transfer pricing regime, given the nature of the transactions carried out and the history of compliance with international standards.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company will continue to monitor the application of the regulations and will keep its financial statements updated based on any adjustments identified upon completion of the formal transfer pricing analysis.</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i87a60ba2c7674330b0326f1c14f69af6"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.c. Income and social contribution taxes recoverable</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income taxes recoverable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">331,342 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">711,237 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social contribution taxes recoverable</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,944 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">141,457 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">356,286</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">852,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 331342000 711237000 24944000 141457000 356286000 852694000 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i0bbc5414b2934b1784eac249bc73c336"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">8.d. Income and social contribution taxes payable</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income taxes payable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">301,699 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">170,125 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social contribution taxes payable </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">90,606 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,128 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">392,305</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">225,253</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">130,866 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,898 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">261,439 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">215,355 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 301699000 170125000 90606000 55128000 392305000 225253000 130866000 9898000 261439000 215355000 269158000 216497000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the composition and movement of the main components of deferred income tax (“IR”) and social contribution (“CS”).</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:13.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.945%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.953%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on 12.31.2023</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Income statement</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Comprehensive income</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">IPNET Business Combination (Note 1.c.3)</span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on 12.31.2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Income statement</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Comprehensive income</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Samauma Business Combination (Note 1.c.1)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">FiBrasil Business Combination (Note 1.c.2)</span></td><td colspan="3" style="padding:0 1pt"><span style="font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on </span></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Cyber Business Combination (Note 1.c.6)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on 12.31.2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax assets (liabilities)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Income and social contribution taxes on tax losses</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.25pt;font-weight:700;line-height:120%;position:relative;top:-1.75pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,097,731</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(376,950)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,720,781</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(362,749)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">79,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,437,726</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Income and social contribution taxes on temporary differences</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.25pt;font-weight:700;line-height:120%;position:relative;top:-1.75pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(5,339,226)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(77,430)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(149,400)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(12,187)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(5,578,243)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">192,336</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">54,654</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,535)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(18,495)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">3,656</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(5,349,627)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Provision for legal, labor, tax civil and regulatory contingencies</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,390,268 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(321,522)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">19,604 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,088,350 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">49,643 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">837 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">8,702 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,147,532 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Trade accounts payable and other provision</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,895,643 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">465,563 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,361,206 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">606,736 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,454 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">369 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,970,765 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Customer portfolio and trademarks</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(178,158)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">33,959 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(144,199)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">14,105 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(130,094)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Estimated losses on impairment of accounts receivable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">622,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(623)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,542)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">619,881 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">76,303 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">296 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">696,480 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Estimated losses from modems and other P&amp;E items</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">109,985 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">4,794 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">114,779 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,466)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">113,313 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Pension plans and other post-employment benefits </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">364,335 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">30,067 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(149,103)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">245,299 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(64,296)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">30,138 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">211,141 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Profit sharing</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">223,420 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(13,590)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">209,830 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">10,237 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">4,477 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,222 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">226,766 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Licenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(2,366,402)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">157,762 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(2,208,640)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">157,760 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(2,050,880)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Goodwill from incorporated companies (Spanish and Navytree, Vivo Part., GVTPart., Garliava and Vita IT)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(7,443,807)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(234,417)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(7,678,224)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(211,661)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(16,856)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(7,906,741)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Property and equipment of small value</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,190,678)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(56,360)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,247,038)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">12,475 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,234,563)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Technological Innovation Law</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(7,158)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,440 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(5,718)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,422 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(4,296)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">On other temporary differences</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">241,280 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(144,503)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(297)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(30,249)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">66,231 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(458,922)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">24,516 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(4,372)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(17,568)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,065 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(389,050)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Total deferred tax (Liabilities), non-current</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,241,495)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(454,380)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(149,400)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(12,187)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,857,462)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(170,413)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">54,654</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,535)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">61,199</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">3,656</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,911,901)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax assets</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">9,177,084</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">8,947,536</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">9,593,230</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax liabilities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(12,418,579)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(12,804,998)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(13,505,131)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax liabilities, net</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,241,495)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,857,462)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,911,901)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="12" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Represented in the balance sheet as follows:</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax assets of subsidiaries</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">177,245</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">158,215</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">314,284</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Deferred tax (Liabilities)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(3,418,740)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(4,015,677)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">(4,226,185)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Under Brazilian tax legislation these may be offset up to 30% of the annual taxable income but otherwise have no expiry date.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Amounts that will be realized upon payment of provision, occurrence of impairment losses for trade accounts receivable, or realization of inventories, as well as upon reversal of other provision.</span></div> 2097731000 -376950000 0 0 1720781000 -362749000 0 0 79694000 0 1437726000 -5339226000 -77430000 -149400000 12187000 -5578243000 192336000 54654000 3535000 18495000 3656000 -5349627000 2390268000 -321522000 0 19604000 2088350000 49643000 0 837000 8702000 0 2147532000 1895643000 465563000 0 0 2361206000 606736000 0 0 2454000 369000 2970765000 -178158000 33959000 0 0 -144199000 14105000 0 0 0 0 -130094000 622046000 -623000 0 1542000 619881000 76303000 0 0 296000 0 696480000 109985000 4794000 0 0 114779000 -1466000 0 0 0 0 113313000 364335000 30067000 -149103000 0 245299000 -64296000 30138000 0 0 0 211141000 223420000 -13590000 0 0 209830000 10237000 0 0 4477000 2222000 226766000 -2366402000 157762000 0 0 -2208640000 157760000 0 0 0 0 -2050880000 -7443807000 -234417000 0 0 -7678224000 -211661000 0 0 16856000 0 -7906741000 -1190678000 -56360000 0 0 -1247038000 12475000 0 0 0 0 -1234563000 -7158000 1440000 0 0 -5718000 1422000 0 0 0 0 -4296000 241280000 -144503000 -297000 30249000 66231000 -458922000 24516000 4372000 17568000 1065000 -389050000 -3241495000 -454380000 -149400000 12187000 -3857462000 -170413000 54654000 3535000 61199000 3656000 -3911901000 9177084000 8947536000 9593230000 12418579000 12804998000 13505131000 -3241495000 -3857462000 -3911901000 177245000 158215000 314284000 3418740000 4015677000 4226185000 95922000 12602000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the expected periods for the realization of net deferred taxes, based on projections that may change in the future.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.957%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.269%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Year</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,844,462 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">609,619 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2028</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">261,473 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2029</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">92,491 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2030</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(332,578)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2031 onwards</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(8,387,368)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,911,901)</span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 3844462000 609619000 261473000 92491000 -332578000 -8387368000 -3911901000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The statutory tax rate is 34% (income tax of 25% and social contribution tax of 9%) for the years ended December 31, 2025, 2024 and 2023.</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:61.687%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.403%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income before taxes</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,270,943 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,763,809 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,573,916 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Income and social contribution tax expenses, at the tax rate of 34%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,472,121)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,299,695)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,895,131)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%;text-decoration:underline">Permanent differences</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Tax benefit related to interest on equity allocated</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,145,800 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,055,700 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">881,202 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IR and CS on interest SELIC update of undue debts</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">89,254 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-deductible expenses, gifts, incentives</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(147,708)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(128,670)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(95,677)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Exploration profit</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,412 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">85,369 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">90,258 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Equity pickup</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6,197)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,479)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,623)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Unclaimed interest on equity</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(14,169)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19,182)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19,253)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred taxes on tax losses, negative basis and temporary differences recognized in subsidiaries</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,469 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">84,274 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other exclusions, net</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">336,114 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">101,480 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">335,757 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax debits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,093,400)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,206,477)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(533,939)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Effective rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15.0 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17.8 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9.6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current income and social contribution taxes</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(922,987)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(752,097)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(665,499)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Deferred income and social contribution taxes</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(170,413)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(454,380)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">131,560 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 0.34 0.25 0.09 7270943000 6763809000 5573916000 2472121000 2299695000 1895131000 1145800000 1055700000 881202000 0 0 89254000 147708000 128670000 95677000 32412000 85369000 90258000 -6197000 -1479000 -4623000 14169000 19182000 19253000 32469000 0 84274000 -336114000 -101480000 -335757000 1093400000 1206477000 533939000 0.150 0.178 0.096 -922987000 -752097000 -665499000 -170413000 -454380000 131560000 40297796000 36939312000 0.50 0.50 269158000 216497000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i4d37838d73814b728094c65bf92e126d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">9. TAXES, CHARGES AND CONTRIBUTIONS RECOVERABLE</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">State VAT (ICMS)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,321,798 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,980,977 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">PIS and COFINS</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">558,973 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">517,616 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Withholding taxes and contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">334,941 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">326,802 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other taxes </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">90,806 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">87,043 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,306,518</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,912,438</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,687,600 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,306,093 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">618,918 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">606,345 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes ICMS credits from the acquisition of property and equipment (available to offset in 48 months); requests for refund of ICMS paid on invoices that were subsequently cancelled; for the rendering of services; tax substitution; and tax rate difference; among others. Non-current consolidated amounts include credits arising from the acquisition of property and equipment of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$568,579 and R$563,895</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> on December 31, 2025 and 2024 , respectively. </span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Withholding income tax ("IRRF") credits on short-term investments, interest on equity and others, which are used as deduction in operations for the period and social contribution tax withheld at source on services provided to public agencies.</span></div> <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">State VAT (ICMS)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,321,798 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,980,977 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">PIS and COFINS</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">558,973 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">517,616 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Withholding taxes and contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">334,941 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">326,802 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other taxes </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">90,806 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">87,043 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,306,518</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,912,438</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,687,600 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,306,093 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">618,918 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">606,345 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes ICMS credits from the acquisition of property and equipment (available to offset in 48 months); requests for refund of ICMS paid on invoices that were subsequently cancelled; for the rendering of services; tax substitution; and tax rate difference; among others. Non-current consolidated amounts include credits arising from the acquisition of property and equipment of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$568,579 and R$563,895</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> on December 31, 2025 and 2024 , respectively. </span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Withholding income tax ("IRRF") credits on short-term investments, interest on equity and others, which are used as deduction in operations for the period and social contribution tax withheld at source on services provided to public agencies.</span></div> 2321798000 1980977000 558973000 517616000 334941000 326802000 90806000 87043000 3306518000 2912438000 2687600000 2306093000 618918000 606345000 568579000 563895000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i8aca383cae414cbc8785f154898f8ed4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">10. JUDICIAL DEPOSITS AND GARNISHMENTS</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Judicial deposits are made, and restrictions placed on bank accounts to ensure the continuity of legal processes through the courts or to suspend the enforceability of a tax notice.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Judicial deposits are recorded at historical cost-plus legal indexation/interest accruals.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Judicial deposits</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Tax</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,703,327 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,697,070 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Civil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">929,909 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">891,872 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Regulatory</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">267,596 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">325,810 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Labor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">43,683 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">67,859 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,944,515</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,982,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Garnishments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,803 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21,112 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,964,318</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,003,723</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">107,565 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">150,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,856,753 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,852,730 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The table below presents the classified balances on December 31, 2025 and 2024 of the tax judicial deposits (classified by tax).</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Universal Telecommunication Services Fund (FUST)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">656,567 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">622,820 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">State Value-Added Tax (ICMS)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">411,581 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">432,253 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social Contribution Tax for Intervention in the Economic Order (CIDE)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">355,555 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">338,694 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Corporate Income Tax (IRPJ) and Social Contribution Tax (CSLL)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">65,358 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">61,935 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telecommunications Inspection Fund (FISTEL)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">58,912 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,801 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Contribution tax on gross revenue for Social Integration Program (PIS) and for Social Security Financing (COFINS)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30,225 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">29,425 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Withholding Income Tax (IRRF)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,720 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">45,360 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social Security, work accident insurance (SAT) and funds to third parties (INSS)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">29,537 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,503 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other taxes, charges and contributions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">88,872 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">83,279 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,703,327</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,697,070</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The Company and/or its subsidiaries filed an injunction in order to represent its right not to include expenses with interconnection and industrial use of dedicated line in the FUST tax base, according to Abridgment No. 7, of December 15, 2005, as it does not comply with the provisions contained in the sole paragraph of article 6 of Law No. 9998/00. The amounts related to these expenses are deposited.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The Company is party to legal proceedings related to: (i) ICMS on operations with payment based on estimates; (ii) ICMS FECP; (iii) right to ICMS credit on the acquisition of property and equipment and electricity; (iv) ICMS on amounts given as discounts and (v) consignment in payment of ICMS amounts referring to part of pay TV operations.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The Company is party to legal proceedings for the exemption of CIDE levied on offshore remittances of funds arising from agreements for the transfer of technology, brand and software licensing etc.</span></div> <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Judicial deposits are recorded at historical cost-plus legal indexation/interest accruals.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Judicial deposits</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Tax</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,703,327 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,697,070 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Civil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">929,909 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">891,872 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Regulatory</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">267,596 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">325,810 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Labor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">43,683 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">67,859 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,944,515</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,982,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Garnishments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,803 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21,112 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,964,318</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,003,723</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">107,565 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">150,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,856,753 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,852,730 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1703327000 1697070000 929909000 891872000 267596000 325810000 43683000 67859000 2944515000 2982611000 19803000 21112000 2964318000 3003723000 107565000 150993000 2856753000 2852730000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The table below presents the classified balances on December 31, 2025 and 2024 of the tax judicial deposits (classified by tax).</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Universal Telecommunication Services Fund (FUST)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">656,567 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">622,820 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">State Value-Added Tax (ICMS)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">411,581 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">432,253 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social Contribution Tax for Intervention in the Economic Order (CIDE)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">355,555 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">338,694 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Corporate Income Tax (IRPJ) and Social Contribution Tax (CSLL)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">65,358 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">61,935 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telecommunications Inspection Fund (FISTEL)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">58,912 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,801 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Contribution tax on gross revenue for Social Integration Program (PIS) and for Social Security Financing (COFINS)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30,225 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">29,425 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Withholding Income Tax (IRRF)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,720 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">45,360 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social Security, work accident insurance (SAT) and funds to third parties (INSS)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">29,537 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,503 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other taxes, charges and contributions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">88,872 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">83,279 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,703,327</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,697,070</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The Company and/or its subsidiaries filed an injunction in order to represent its right not to include expenses with interconnection and industrial use of dedicated line in the FUST tax base, according to Abridgment No. 7, of December 15, 2005, as it does not comply with the provisions contained in the sole paragraph of article 6 of Law No. 9998/00. The amounts related to these expenses are deposited.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The Company is party to legal proceedings related to: (i) ICMS on operations with payment based on estimates; (ii) ICMS FECP; (iii) right to ICMS credit on the acquisition of property and equipment and electricity; (iv) ICMS on amounts given as discounts and (v) consignment in payment of ICMS amounts referring to part of pay TV operations.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The Company is party to legal proceedings for the exemption of CIDE levied on offshore remittances of funds arising from agreements for the transfer of technology, brand and software licensing etc.</span></div> 656567000 622820000 411581000 432253000 355555000 338694000 65358000 61935000 58912000 55801000 30225000 29425000 6720000 45360000 29537000 27503000 88872000 83279000 1703327000 1697070000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="id593a1d2e3ee45088f46bf00de80ade2"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">11. OTHER ASSETS</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Related-party receivables (Note 29.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">26,471 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">115,400 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of real estate and other receivables</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">473,091 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">255,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Advances to employees and suppliers</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,522 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,811 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Surplus from post-employment benefit plans (Note 31)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">182,907 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">157,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Compensation assets (IPNET and VSS acquisitions)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">141,610 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">133,038 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Assets held for sale</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,761 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Subletting of assets and other amounts to be realized</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">16,866 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,364 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">905,228</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">728,976</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">419,300 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">360,141 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">485,928 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">368,835 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">On December 31, 2025 and 2024, it includes the amounts of R$179,493 and R$153,714, respectively, referring to the distribution of the PBS-A surplus.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">These refer to the residual cost of properties classified as available for sale in their current condition, in the process of formalizing the purchase and sale agreement. Depreciation of these properties ceased as of the date of reclassification of property and equipment.</span></div> <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Related-party receivables (Note 29.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">26,471 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">115,400 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of real estate and other receivables</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">473,091 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">255,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Advances to employees and suppliers</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">55,522 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,811 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Surplus from post-employment benefit plans (Note 31)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">182,907 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">157,046 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Compensation assets (IPNET and VSS acquisitions)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">141,610 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">133,038 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Assets held for sale</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,761 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Subletting of assets and other amounts to be realized</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">16,866 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,364 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">905,228</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">728,976</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">419,300 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">360,141 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">485,928 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">368,835 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">On December 31, 2025 and 2024, it includes the amounts of R$179,493 and R$153,714, respectively, referring to the distribution of the PBS-A surplus.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">These refer to the residual cost of properties classified as available for sale in their current condition, in the process of formalizing the purchase and sale agreement. Depreciation of these properties ceased as of the date of reclassification of property and equipment.</span></div> 26471000 115400000 473091000 255317000 55522000 60811000 182907000 157046000 141610000 133038000 8761000 0 16866000 7364000 905228000 728976000 419300000 360141000 485928000 368835000 179493000 153714000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i7b256bb8f5294bd59bb1ee1e61aa4f2b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">12. INVESTMENTS</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i414ad207ecab451a9f56c940bcdb26f5"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">12.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries hold investments in subsidiaries and jointly controlled companies.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifae878d39cea46d7886e041d7afdbb34"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">12.a.1. Subsidiary</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ends when the Company ceases to exercise said control. Assets, liabilities and results of a subsidiary acquired or sold during the year are included in the consolidated financial statements from the date on which the Company obtains control until the date on which the Company ceases to exercise control over the subsidiary.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Specifically, the Company controls an investee if, and only if, it has: (i) power over the investee (that is, existing rights that guarantee it the current ability to direct the relevant activities of the investee); (ii) exposure or right to variable returns arising from its involvement with the investee; and (iii) the ability to use its power over the investee to affect the value of its returns.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">There is usually a presumption that a majority of voting rights results in control. To support this presumption and when the Company has less than a majority of the voting rights of an investee, the Company considers all relevant facts and circumstances when assessing whether it has power over an investee, including: (i) the contractual agreement between the investor and other holders of voting rights; (ii) rights arising from other contractual agreements; and (iii) the Company's voting rights and potential voting rights. The Company assesses whether it exercises control over an investee if facts and circumstances indicate that there are changes in one or more of the three aforementioned control elements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The financial statements of investees are prepared for the same reporting period of the Company. Whenever necessary, adjustments are made so that the accounting policies are in accordance with those adopted by the Company.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i957155b4b9e142f2b6029825a3ee2c55"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">12.a.2. Joint control</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Joint control is the contractually agreed sharing of control, existing only when decisions about relevant activities require the unanimous consent of the parties sharing control.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Based on the equity method, investments are recorded in balance sheets at cost plus changes after the acquisition of the equity interest. The statement of income reflects the portion of the results of operations of the investees.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Exchange rate variations in the equity of Aliança (joint control) are recognized in equity in other comprehensive income (“Effects of the translation of foreign investments”, note 24.f.). The functional and presentation currency of Aliança, an investee of the Company based in the Netherlands, is the Euro.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When changes are directly recognized in the investees' equity, the Company will recognize its portion in variations occurred, and record these variations in the statements of changes in equity and in the statements of comprehensive income, where applicable.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The financial statements of investees are prepared for the same reporting period of the Company. Whenever necessary, adjustments are made so that the accounting policies are in accordance with those adopted by the Company. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">After the equity method is applied, the Company determines whether there is any need to recognize additional impairment of its investment in investees. At each closing date, the Company determines whether there is objective evidence of impairment of investment in the affiliate. If so, the Company calculates the recoverable amount as the difference between the recoverable value of the investees and their carrying amount and recognizes the amount in the statement of incomes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When there is loss of significant influence over the investees, the Company evaluates and recognizes the investment, at that moment, at fair value. Any difference between the investees’ carrying amount by the time it loses significant influence and the fair value of the remaining investment and revenue from sale is recognized in the statement of incomes.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i20404faa7c2443cf91b44f231b29c856"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">12.a.3. Business combination</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Pursuant to IFRS 3, business acquisitions are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the fair values of assets acquired and liabilities assumed on the acquisition date from the acquiree's former controlling shareholders and any interests issued in exchange for control of the acquiree. Costs directly attributable to the acquisition are expensed as incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Acquisitions involving companies under common control are accounted for at the carrying amount of the net assets acquired/identifiable net liabilities (“Predecessor Value Method”). Consequently, the difference between the consideration given in exchange for the equity interest obtained and the value of the net assets acquired/identifiable net liabilities will be recorded in equity as “Other capital reserves”.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Any contingent consideration to be transferred by the acquirer shall be recognized at fair value on the acquisition date. Subsequent changes in the fair value of the contingent consideration considered as an asset or liability shall be recognized in accordance with IFRS 9 in the statement income .</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Goodwill is initially measured as the excess of the consideration transferred over the net assets acquired (identifiable assets acquired, net and liabilities assumed). If the consideration is less than the fair value of the net assets acquired, the difference shall be recognized as a gain in the income statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">After initial recognition, goodwill is measured at cost, less any accumulated impairment losses. For impairment testing purposes, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units expected to benefit from the synergies of the combination, regardless of whether other assets or liabilities of the acquiree are attributed to those units.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When goodwill is part of a cash-generating unit and a portion of that unit is disposed of, the goodwill associated with the portion disposed of shall be included in the cost of the transaction when determining the gain or loss on disposal. Goodwill disposed of in such circumstances is determined based on the proportionate amounts of the portion disposed of in relation to the cash-generating unit retained.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In the parent company, the difference between the amount paid and the equity value of the acquired entities is recognized in investments. For the consolidated information, the amounts of fair values and goodwill are allocated according to their nature.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i3def00fe75cd4c5d99e04a755a29461c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">12.b. Information on investees</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025 and 2024, the Company held direct equity interests in subsidiaries and jointly controlled companies, as follows:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.095%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.229%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Equity interests</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Investees</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Type of investment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31.12.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31.12.2024</span></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Country (Headquarters)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Core activity</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Terra Networks Brasil Ltda ("Terra Networks")(1)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Portals, content providers and other information services on the internet</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica Transportes e Logística Ltda ("TGLog")</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Transports and logistics</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">POP Internet Ltda ("POP")(2)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Internet</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Pay I Credit Rights Investment Fund (formerly Vivo Money I Credit Rights Investment Fund)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Credit Rights Investment Fund</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Pay II Investment Fund in Credit Rights</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Credit Rights Investment Fund</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Pay III Investment Fund in Credit Rights (formerly Vivo Money III Investment Fund in Credit Rights)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Credit Rights Investment Fund</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Pay Holding Financeira Ltda ("Vivo Pay")(3)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Equity participation in institutions authorized to operate by BACEN</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Ventures Fundo de Investimento em Participações Multiestratégia (“Vivo Ventures”)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">98.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">98.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Investment funds</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica Cloud e Tecnologia do Brasil S.A. (“CloudCo Brasil”)(4)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.01</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.01</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Consulting in information technology</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica IoT, Big Data e Tecnologia do Brasil S.A. (“IoTCo Brasil”)(5)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.01</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Consulting in information technology</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Aliança Atlântica Holding B.V. ("Aliança")</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Holanda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telecommunications sector holdings</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Companhia AIX de Participações ("AIX")</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Operation of underground telecommunications networks</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Companhia ACT de Participações ("ACT")</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Operation of underground telecommunications networks</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">VivaE Educação Digital S.A. ("VIVAE")(6)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Training in professional and managerial development</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">GUD Comercializadora de Energia S.A. ("GUD")</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Generation and commercialization of customized solutions in renewable energy</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">FiBrasil Infraestrutura e Fibra Ótica S.A. (“FiBrasil”)(7)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled (2025)/Joint control (2024)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">75.01</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">25.01</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Technical advice on telecommunications networks</span></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Terra Networks is the sole and direct controlling shareholder of TIS, TLF01, and Samauma. TIS has been the controlling shareholder of CyberCo Brasil since December 9, 2025.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">POP is the sole and direct controlling company of Recicla V and Vale Saúde Sempre.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Vivo Pay Holding is the direct controlling company of Vivo Pay SCD.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">CloudCo Brasil was the sole and direct controlling company of IPNET and IPNET USA. On July 1, 2025, and November 1, 2025, it incorporated IoTCo Brasil and IPNET (note 1.c.3).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">IoTCo Brasil was merged by CloudCo Brasil on July 1, 2025.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">There was a corporate reorganization with Vivo Ventures (note 1.c.4).</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(7)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">There was an acquisition of corporate control (note 1.c.2).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The following table provides a summary of information regarding the Company's wholly-owned and jointly controlled subsidiaries:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.555%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.399%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Investees</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net operating revenue</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net profit (loss)</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Aliança</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">301,512 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">798 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">300,714 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,696 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">AIX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,180 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,325 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21,855 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">71,521 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,126 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ACT</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">49 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">43 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">104 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">GUD</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,606 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,169)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VIVAE</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37,864 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13,748 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,116 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,480 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(13,025)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.555%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.399%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Investees</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net operating revenue</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net profit (loss)</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Aliança</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">297,309 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,917 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">294,392 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,968 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">AIX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">49,834 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,105 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,729 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">67,521 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,648)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ACT</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">46 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">96 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">GUD</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23,460 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,664 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,796 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,842)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VIVAE</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21,070 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,957 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,113 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,152 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,307)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">FiBrasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,025,664 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,157,880 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">867,784 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">391,831 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,745)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i7d0a53b43ec1456e944c8e43b4b84a9c"></span><span style="background-color:#ffffff;color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">12.c. Changes in investments</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.698%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.818%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Joint control</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Business combination (Note 1.c.3)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other investments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total investments</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">396,675</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">42,195</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">438,870</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity income by results</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,351)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,351)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Capital contribution - cash and cash equivalents (VivaE and GUD)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13,687 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13,687 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Investments by subsidiary Vivo Ventures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">93,633 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">93,633 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other comprehensive income</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,566 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(21)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,545 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">430,577</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">135,807</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">566,384</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity income by results</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(18,227)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(18,227)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Capital contribution - cash and cash equivalents (VivaE e GUD)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,923 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,923 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Corporate reorganization of Vivo Ventures and VivaE - Investment in Vivo Ventures</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(11,222)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Corporate reorganization of Vivo Ventures and VivaE - Gain on the remeasurement of equity interest (note 1.c.4)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,153 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,153 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Acquisition of controlling interest in FiBrasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(372,251)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">631,169 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(372,251)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gain on the remeasurement of the equity interest in the acquisition of control of FiBrasil (note 1.c.2)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">128,750 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">128,750 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Investments by subsidiary Vivo Ventures</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">94,358 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">94,358 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other comprehensive income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">813 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(26)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">787 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">179,516</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">631,169</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">230,139</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">420,877</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i414ad207ecab451a9f56c940bcdb26f5"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">12.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries hold investments in subsidiaries and jointly controlled companies.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifae878d39cea46d7886e041d7afdbb34"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">12.a.1. Subsidiary</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ends when the Company ceases to exercise said control. Assets, liabilities and results of a subsidiary acquired or sold during the year are included in the consolidated financial statements from the date on which the Company obtains control until the date on which the Company ceases to exercise control over the subsidiary.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Specifically, the Company controls an investee if, and only if, it has: (i) power over the investee (that is, existing rights that guarantee it the current ability to direct the relevant activities of the investee); (ii) exposure or right to variable returns arising from its involvement with the investee; and (iii) the ability to use its power over the investee to affect the value of its returns.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">There is usually a presumption that a majority of voting rights results in control. To support this presumption and when the Company has less than a majority of the voting rights of an investee, the Company considers all relevant facts and circumstances when assessing whether it has power over an investee, including: (i) the contractual agreement between the investor and other holders of voting rights; (ii) rights arising from other contractual agreements; and (iii) the Company's voting rights and potential voting rights. The Company assesses whether it exercises control over an investee if facts and circumstances indicate that there are changes in one or more of the three aforementioned control elements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The financial statements of investees are prepared for the same reporting period of the Company. Whenever necessary, adjustments are made so that the accounting policies are in accordance with those adopted by the Company.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i957155b4b9e142f2b6029825a3ee2c55"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">12.a.2. Joint control</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Joint control is the contractually agreed sharing of control, existing only when decisions about relevant activities require the unanimous consent of the parties sharing control.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Based on the equity method, investments are recorded in balance sheets at cost plus changes after the acquisition of the equity interest. The statement of income reflects the portion of the results of operations of the investees.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Exchange rate variations in the equity of Aliança (joint control) are recognized in equity in other comprehensive income (“Effects of the translation of foreign investments”, note 24.f.). The functional and presentation currency of Aliança, an investee of the Company based in the Netherlands, is the Euro.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When changes are directly recognized in the investees' equity, the Company will recognize its portion in variations occurred, and record these variations in the statements of changes in equity and in the statements of comprehensive income, where applicable.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The financial statements of investees are prepared for the same reporting period of the Company. Whenever necessary, adjustments are made so that the accounting policies are in accordance with those adopted by the Company. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">After the equity method is applied, the Company determines whether there is any need to recognize additional impairment of its investment in investees. At each closing date, the Company determines whether there is objective evidence of impairment of investment in the affiliate. If so, the Company calculates the recoverable amount as the difference between the recoverable value of the investees and their carrying amount and recognizes the amount in the statement of incomes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When there is loss of significant influence over the investees, the Company evaluates and recognizes the investment, at that moment, at fair value. Any difference between the investees’ carrying amount by the time it loses significant influence and the fair value of the remaining investment and revenue from sale is recognized in the statement of incomes.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i20404faa7c2443cf91b44f231b29c856"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">12.a.3. Business combination</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Pursuant to IFRS 3, business acquisitions are accounted for using the acquisition method. The consideration transferred in a business combination is measured at fair value, which is calculated as the sum of the fair values of assets acquired and liabilities assumed on the acquisition date from the acquiree's former controlling shareholders and any interests issued in exchange for control of the acquiree. Costs directly attributable to the acquisition are expensed as incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Acquisitions involving companies under common control are accounted for at the carrying amount of the net assets acquired/identifiable net liabilities (“Predecessor Value Method”). Consequently, the difference between the consideration given in exchange for the equity interest obtained and the value of the net assets acquired/identifiable net liabilities will be recorded in equity as “Other capital reserves”.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Any contingent consideration to be transferred by the acquirer shall be recognized at fair value on the acquisition date. Subsequent changes in the fair value of the contingent consideration considered as an asset or liability shall be recognized in accordance with IFRS 9 in the statement income .</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Goodwill is initially measured as the excess of the consideration transferred over the net assets acquired (identifiable assets acquired, net and liabilities assumed). If the consideration is less than the fair value of the net assets acquired, the difference shall be recognized as a gain in the income statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">After initial recognition, goodwill is measured at cost, less any accumulated impairment losses. For impairment testing purposes, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units expected to benefit from the synergies of the combination, regardless of whether other assets or liabilities of the acquiree are attributed to those units.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When goodwill is part of a cash-generating unit and a portion of that unit is disposed of, the goodwill associated with the portion disposed of shall be included in the cost of the transaction when determining the gain or loss on disposal. Goodwill disposed of in such circumstances is determined based on the proportionate amounts of the portion disposed of in relation to the cash-generating unit retained.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In the parent company, the difference between the amount paid and the equity value of the acquired entities is recognized in investments. For the consolidated information, the amounts of fair values and goodwill are allocated according to their nature.</span></div> <div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025 and 2024, the Company held direct equity interests in subsidiaries and jointly controlled companies, as follows:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.095%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.229%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Equity interests</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Investees</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Type of investment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31.12.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31.12.2024</span></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Country (Headquarters)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Core activity</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Terra Networks Brasil Ltda ("Terra Networks")(1)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Portals, content providers and other information services on the internet</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica Transportes e Logística Ltda ("TGLog")</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Transports and logistics</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">POP Internet Ltda ("POP")(2)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Internet</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Pay I Credit Rights Investment Fund (formerly Vivo Money I Credit Rights Investment Fund)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Credit Rights Investment Fund</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Pay II Investment Fund in Credit Rights</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Credit Rights Investment Fund</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Pay III Investment Fund in Credit Rights (formerly Vivo Money III Investment Fund in Credit Rights)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Credit Rights Investment Fund</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Pay Holding Financeira Ltda ("Vivo Pay")(3)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Equity participation in institutions authorized to operate by BACEN</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Vivo Ventures Fundo de Investimento em Participações Multiestratégia (“Vivo Ventures”)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">98.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">98.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Investment funds</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica Cloud e Tecnologia do Brasil S.A. (“CloudCo Brasil”)(4)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.01</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.01</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Consulting in information technology</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica IoT, Big Data e Tecnologia do Brasil S.A. (“IoTCo Brasil”)(5)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.01</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Consulting in information technology</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Aliança Atlântica Holding B.V. ("Aliança")</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Holanda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telecommunications sector holdings</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Companhia AIX de Participações ("AIX")</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Operation of underground telecommunications networks</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Companhia ACT de Participações ("ACT")</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Operation of underground telecommunications networks</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">VivaE Educação Digital S.A. ("VIVAE")(6)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">—</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Training in professional and managerial development</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">GUD Comercializadora de Energia S.A. ("GUD")</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Joint control</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">50.00</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Generation and commercialization of customized solutions in renewable energy</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">FiBrasil Infraestrutura e Fibra Ótica S.A. (“FiBrasil”)(7)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Controlled (2025)/Joint control (2024)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">75.01</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">25.01</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Technical advice on telecommunications networks</span></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Terra Networks is the sole and direct controlling shareholder of TIS, TLF01, and Samauma. TIS has been the controlling shareholder of CyberCo Brasil since December 9, 2025.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">POP is the sole and direct controlling company of Recicla V and Vale Saúde Sempre.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Vivo Pay Holding is the direct controlling company of Vivo Pay SCD.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">CloudCo Brasil was the sole and direct controlling company of IPNET and IPNET USA. On July 1, 2025, and November 1, 2025, it incorporated IoTCo Brasil and IPNET (note 1.c.3).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">IoTCo Brasil was merged by CloudCo Brasil on July 1, 2025.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">There was a corporate reorganization with Vivo Ventures (note 1.c.4).</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(7)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">There was an acquisition of corporate control (note 1.c.2).</span></div> 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 0.9800 0.9800 0.5001 0.5001 0.5001 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.5000 0.7501 0.2501 <div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The following table provides a summary of information regarding the Company's wholly-owned and jointly controlled subsidiaries:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.555%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.399%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Investees</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net operating revenue</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net profit (loss)</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Aliança</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">301,512 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">798 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">300,714 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,696 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">AIX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,180 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,325 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21,855 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">71,521 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,126 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ACT</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">49 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">43 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">104 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">GUD</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,606 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,169)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VIVAE</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37,864 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13,748 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24,116 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,480 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(13,025)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:38.555%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.399%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Investees</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net operating revenue</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net profit (loss)</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Aliança</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">297,309 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,917 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">294,392 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,968 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">AIX</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">49,834 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,105 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,729 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">67,521 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,648)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ACT</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">46 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">96 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">GUD</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23,460 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,664 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,796 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">– </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,842)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VIVAE</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21,070 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,957 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,113 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,152 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,307)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">FiBrasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,025,664 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,157,880 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">867,784 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">391,831 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,745)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 301512000 798000 300714000 4696000 60180000 38325000 21855000 71521000 4126000 49000 6000 43000 104000 1000 5606000 -3169000 37864000 13748000 24116000 10480000 -13025000 297309000 2917000 294392000 6968000 49834000 32105000 17729000 67521000 -1648000 46000 4000 42000 96000 23460000 7664000 15796000 -4842000 21070000 3957000 17113000 6152000 -5307000 2025664000 1157880000 867784000 391831000 -7745000 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i7d0a53b43ec1456e944c8e43b4b84a9c"></span><span style="background-color:#ffffff;color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">12.c. Changes in investments</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.698%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.818%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Joint control</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Business combination (Note 1.c.3)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other investments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total investments</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">396,675</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">42,195</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">438,870</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity income by results</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,351)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,351)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Capital contribution - cash and cash equivalents (VivaE and GUD)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13,687 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13,687 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Investments by subsidiary Vivo Ventures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">93,633 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">93,633 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other comprehensive income</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,566 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(21)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,545 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">430,577</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">135,807</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">566,384</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Equity income by results</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(18,227)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(18,227)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Capital contribution - cash and cash equivalents (VivaE e GUD)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,923 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,923 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Corporate reorganization of Vivo Ventures and VivaE - Investment in Vivo Ventures</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(11,222)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Corporate reorganization of Vivo Ventures and VivaE - Gain on the remeasurement of equity interest (note 1.c.4)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,153 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,153 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Acquisition of controlling interest in FiBrasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(372,251)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">631,169 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(372,251)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gain on the remeasurement of the equity interest in the acquisition of control of FiBrasil (note 1.c.2)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">128,750 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">128,750 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Investments by subsidiary Vivo Ventures</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">94,358 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">94,358 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other comprehensive income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">813 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(26)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">787 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">179,516</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">631,169</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">230,139</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">420,877</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 396675000 42195000 438870000 -4351000 -4351000 13687000 13687000 93633000 93633000 24566000 -21000 24545000 430577000 0 135807000 566384000 -18227000 -18227000 14923000 14923000 -11222000 0 6153000 6153000 -372251000 631169000 -372251000 128750000 128750000 94358000 94358000 813000 -26000 787000 179516000 631169000 230139000 420877000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i6177f506928c4d4eb6c2375a7209b696"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">13. PROPERTY AND EQUIPMENT</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5c85c8483ab74c08afbf2f0634115cd1"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">13.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">It is measured at acquisition and/or construction cost, net of accumulated depreciation and/or accumulated impairment losses, if any. Such cost includes the borrowing costs for long-term construction projects if the recognition criteria are met and is stated net of ICMS (State VAT) credits (Note 9.), which were recorded as recoverable taxes. The Company does not have loans that meet the criteria for recognition of cost capitalization.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Asset costs are capitalized until the asset becomes operational. Costs incurred after the asset becomes operational and that do not improve the functionality or extend the useful life of the asset are immediately recognized on an accrual basis. When significant parts of fixed assets are required to be replaced at intervals, the Company recognizes such parts as individual assets with specific useful lives and depreciation. Likewise, expenses that represent asset improvement (expanded installed capacity or useful life) are capitalized. All the other repair and maintenance costs are recognized in the statement of income as incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The present value of the expected cost for the decommissioning of property and equipment items (towers and equipment on leased property) is capitalized at the cost of the respective asset matched against the provision for dismantling obligations (Note 20.) and depreciated over the useful lives of the related assets, which do not exceed the lease term. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Depreciation is calculated by the straight-line method over the useful lives of assets at rates that take into account the estimated useful lives of assets based on technical analyses. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The assets’ residual values, useful lives and methods of depreciation are reviewed on a yearly basis, adjusted prospectively, if appropriate.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Property and equipment items are written off when sold or when no future economic benefit is expected from their use or sale. Any gains or losses arising from write-off (measured as the difference between the net disposal proceeds and the carrying amount) are recognized in the statement of income in the year in which the asset is written off.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifbd9fcce2a014029a9ac4a04d1b7b939"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">Leases</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low value assets, as permitted by IFRS 16. They recognize lease liabilities to make lease payments and assets rights of use representing the right of use of the underlying assets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company recognizes the right-of-use assets on the lease start date (that is, on the date the asset is available for use). The rights of use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any new remeasurement of lease liabilities.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company acts as a lessee in a significant number of lease agreements on different assets, such as structures (towers and rooftops) and the respective land where they are located; sites built in the Built to Suit (“BTS”) modality for installing antennas and other equipment and means of transmission; computer equipment; offices, shops and commercial properties. </span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i9e43df5c7a374c4c84a9885ae4942411"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">13.b. Critical estimates and judgments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The accounting treatment of investment in fixed assets includes estimating the useful life period for depreciation purposes, particularly for assets acquired in business combinations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Useful life determination requires estimates regarding the expected technological developments and alternative uses of assets, and these estimates are reviewed annually. The hypotheses related to the technological aspect and its future development imply a significant level of analysis, considering the difficulties in forecasting the time and nature of future technological changes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Information on the recoverability of fixed assets is presented in Note 15.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i94eee0ee90424d7a8b83f0838a87afcd"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">13.c. Description, Breakdown and changes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">We present a brief description of the main items that make up fixed assets.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Switching and transmission media equipment:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Includes switching and control centers, gateway, platforms, base radio station, microcells, minicells, repeaters, antennas, radios, access networks, concentrators, cables, TV equipment and other switching and transmission media equipment.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Infrastructure:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> This includes buildings, elevators, central air conditioning equipment, towers, posts, containers, energy equipment, land piping, support and protectors, leasehold improvements, etc.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Lending equipment:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Includes cellphones and modems in the lending modality, made available to customers.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Terminal equipment:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Includes private telephone switching centers, public telephones and other terminal equipment.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Other fixed asset items:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> These include vehicles, repair and construction tools and instruments, telesupervision equipment, IT equipment, testing and measurement equipment, fixtures and other goods for general use.</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.802%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.099%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Switching and transmission equipment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Infrastructure</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Lending equipment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Terminal equipment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Land</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other P&amp;E</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Assets and facilities under construction</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,266,868</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,929,179</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,401,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">421,385</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">249,536</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">512,930</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,536,555</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">46,318,147</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Additions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">162,171 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,707,950 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">85,285 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">32 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">117,026 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,002,568 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">11,075,032 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs, net</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(10,653)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(111,421)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(469)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(536)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(10,271)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(8,182)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(141,532)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net transfers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,266,774 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">358,091 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,185,708 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">36,752 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">12,947 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,895,330)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(35,058)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Subletting</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(65,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(65,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">533 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">532 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,065 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Depreciation (Note 26.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,914,354)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,829,001)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,162,005)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(245,147)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(189,476)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(10,339,983)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">22,770,806</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15,990,041</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,510,213</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">212,486</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">239,265</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">453,959</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,635,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">46,812,381</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Additions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">140,156 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,636,211 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">90,341 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">590 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">171,553 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,069,736 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">10,108,587 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs, net</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,810)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(217,861)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(17)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(643)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,750)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(11,572)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(239,653)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net transfers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,235,811 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">547,154 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,961,984 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">17,612 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(53,752)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,710,107)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,298)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Subletting</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,873)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,873)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Assets held for sale (Note 11)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(7,399)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,362)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(8,761)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination - Samauma (Note 1.c.1)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">217 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">217 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination - FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,563,540 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">818 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,061 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">114,083 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,679,502 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination - Cyber (Note 1.c.6)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,800 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">505 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">990 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">860 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,155 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Depreciation (Note 26.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,437,238)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,105,108)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,206,428)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(113,084)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(132,359)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(10,994,217)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21,709,525</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,402,210</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,356,093</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">117,604</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">238,078</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">434,919</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,098,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">47,357,040</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">91,758,158 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">47,318,029 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">31,701,975 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,582,403 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">239,265 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,945,185 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,635,611 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">185,180,626 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Accumulated depreciation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(68,987,352)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(31,327,988)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(26,191,762)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,369,917)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,491,226)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(138,368,245)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">22,770,806</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15,990,041</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,510,213</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">212,486</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">239,265</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">453,959</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,635,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">46,812,381</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">94,868,938 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">52,291,576 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">32,937,369 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,585,887 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">238,078 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,078,455 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,098,611 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">195,098,914 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Accumulated depreciation</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(73,159,413)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(34,889,366)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(27,581,276)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,468,283)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,643,536)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(147,741,874)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21,709,525</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,402,210</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,356,093</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">117,604</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">238,078</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">434,919</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,098,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">47,357,040</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Additions from property and equipment mainly refers to: (i) in 2025 Investments were primarily directed towards expanding the 5G mobile network and strengthening FTTH to support the growth of connected customers. These investments demonstrate the Company's commitment to the quality of services provided, ensuring robust and consistent commercial performance throughout the year, in both B2C and B2B; .(ii) in 2024: Investments were primarily directed towards accelerating the 5G mobile network, as well as strengthening transmission backhaul, backbone and network, and FTTH customers. These were some of the initiatives that boosted our commercial growth this year, reinforcing our commitment to the quality of our services and ensuring healthy and consistent growth.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In infrastructure, includes the amount</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">s of R$213,077 and R$74,258 </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> in 2025 and 2024, respectively, referring to the cancellation of lease agreements.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Total balances refer to transfers between classes of fixed and intangible assets (Note 14.c.).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i05f89ad40eeb4ac49482d0968b07d67a_6540"></span><span id="i8cd2eda8399f4c4d88da1c2806350a70"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">13.d. Depreciation rates</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In the years ended December 31, 2025 and 2024, the Company performed assessments of the useful lives of property and equipment using the direct comparative method of market data.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the year ended December 31, 2025, the study did not indicate the need for changes in the useful lives and annual depreciation rates. For the year ended December 31, 2024, this study indicated the need for changes in the useful life and annual depreciation rates of some asset items. These changes in the accounting estimate increased depreciation expense by </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$432,091</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in 2024 </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$864,182</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in 2025)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below is a summary of the annual depreciation rates for the years ended December 31, 2025 and 2024, excluding lease assets, which are disclosed in Note 13.e.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:64.417%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.811%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.811%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.232%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Description</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Switching and transmission equipment and media</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.50%</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">66.67%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.50%</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">66.67%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Infrastructure</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.50%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.50%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Lending equipment</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Terminal equipment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other P&amp;E assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i421ad3362bd44503b00a4699526e11d4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">13.e. Additional information on leases</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ia3f60d4803fe4fc78dfecd3049a54754"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">13.e.1. Breakdown and changes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the movement of leases, already included in the tables for the movement of fixed assets (Note 13.c.).</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.727%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.265%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Infrastructure</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Switching and transmission equipment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,862,992</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">203,519</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,080,117</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,634,552 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">139,125 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">702 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,774,379 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Subletting (Note 13.c.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(65,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(65,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,364,821)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(79,390)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,028)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,453,239)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cancellation of contracts</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(74,258)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(10,123)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(21)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(84,402)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other changes</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,947)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,947)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,989,228</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">253,131</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,259</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,247,618</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,508,375 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">128,257 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,505 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,700,137 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Subletting (Note 13.c.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,873)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,873)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,615,053)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(89,852)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(18,513)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,723,418)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cancellation of contracts</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(213,077)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,050)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(214,127)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">110,330 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">110,330 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - Cyber (Note 1.c.6)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">380 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">380 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,775,310</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">290,486</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50,251</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,116,047</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">29,418,847 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">520,634 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">130,315 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30,069,796 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accumulated depreciation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(16,429,619)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(267,503)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(125,056)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(16,822,178)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,989,228</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">253,131</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,259</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,247,618</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,014,344 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">638,473 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">193,117 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,845,934 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accumulated depreciation</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19,239,034)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(347,987)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(142,866)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19,729,887)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,775,310</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">290,486</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50,251</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,116,047</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iaaa05b09176b4d88bf572832563b40c0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">13.e.2. Depreciation rates </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the annual depreciation rates for the years ended December 31, 2025 and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.865%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.934%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.673%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.934%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.934%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.673%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.939%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Description</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Infrastructure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.36%</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">92.31%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.36%</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">92.31%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Switching and transmission equipment and media</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">66.67%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">66.67%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other P&amp;E assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">26.09%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37.50%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">26.09%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">40.00%</span></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i05f89ad40eeb4ac49482d0968b07d67a_6535"></span><span id="i4424d7757bab4c12ba6a4b28d3dbe529"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">13.f. Property and equipment items pledged in guarantee</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, the consolidated values of property and equipment given as collateral in legal proceedings were R$9,675 (R$29,414 on December 31, 2024).</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5c85c8483ab74c08afbf2f0634115cd1"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">13.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">It is measured at acquisition and/or construction cost, net of accumulated depreciation and/or accumulated impairment losses, if any. Such cost includes the borrowing costs for long-term construction projects if the recognition criteria are met and is stated net of ICMS (State VAT) credits (Note 9.), which were recorded as recoverable taxes. The Company does not have loans that meet the criteria for recognition of cost capitalization.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Asset costs are capitalized until the asset becomes operational. Costs incurred after the asset becomes operational and that do not improve the functionality or extend the useful life of the asset are immediately recognized on an accrual basis. When significant parts of fixed assets are required to be replaced at intervals, the Company recognizes such parts as individual assets with specific useful lives and depreciation. Likewise, expenses that represent asset improvement (expanded installed capacity or useful life) are capitalized. All the other repair and maintenance costs are recognized in the statement of income as incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The present value of the expected cost for the decommissioning of property and equipment items (towers and equipment on leased property) is capitalized at the cost of the respective asset matched against the provision for dismantling obligations (Note 20.) and depreciated over the useful lives of the related assets, which do not exceed the lease term. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Depreciation is calculated by the straight-line method over the useful lives of assets at rates that take into account the estimated useful lives of assets based on technical analyses. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The assets’ residual values, useful lives and methods of depreciation are reviewed on a yearly basis, adjusted prospectively, if appropriate.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Property and equipment items are written off when sold or when no future economic benefit is expected from their use or sale. Any gains or losses arising from write-off (measured as the difference between the net disposal proceeds and the carrying amount) are recognized in the statement of income in the year in which the asset is written off.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifbd9fcce2a014029a9ac4a04d1b7b939"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">Leases</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low value assets, as permitted by IFRS 16. They recognize lease liabilities to make lease payments and assets rights of use representing the right of use of the underlying assets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company recognizes the right-of-use assets on the lease start date (that is, on the date the asset is available for use). The rights of use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any new remeasurement of lease liabilities.</span></div>The Company acts as a lessee in a significant number of lease agreements on different assets, such as structures (towers and rooftops) and the respective land where they are located; sites built in the Built to Suit (“BTS”) modality for installing antennas and other equipment and means of transmission; computer equipment; offices, shops and commercial properties. <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:29.216%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.802%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.099%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Switching and transmission equipment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Infrastructure</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Lending equipment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Terminal equipment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Land</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other P&amp;E</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Assets and facilities under construction</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,266,868</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,929,179</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,401,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">421,385</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">249,536</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">512,930</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,536,555</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">46,318,147</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Additions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">162,171 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,707,950 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">85,285 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">32 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">117,026 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,002,568 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">11,075,032 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs, net</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(10,653)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(111,421)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(469)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(536)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(10,271)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(8,182)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(141,532)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net transfers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,266,774 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">358,091 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,185,708 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">36,752 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">12,947 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,895,330)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(35,058)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Subletting</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(65,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(65,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">533 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">532 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,065 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Depreciation (Note 26.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,914,354)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,829,001)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,162,005)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(245,147)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(189,476)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(10,339,983)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">22,770,806</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15,990,041</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,510,213</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">212,486</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">239,265</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">453,959</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,635,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">46,812,381</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Additions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">140,156 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,636,211 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">90,341 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">590 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">171,553 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,069,736 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">10,108,587 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs, net</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,810)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(217,861)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(17)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(643)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,750)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(11,572)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(239,653)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net transfers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,235,811 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">547,154 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,961,984 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">17,612 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(53,752)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,710,107)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,298)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Subletting</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,873)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,873)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Assets held for sale (Note 11)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(7,399)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,362)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(8,761)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination - Samauma (Note 1.c.1)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">217 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">217 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination - FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,563,540 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">818 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,061 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">114,083 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,679,502 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination - Cyber (Note 1.c.6)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,800 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">505 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">990 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">860 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,155 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Depreciation (Note 26.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,437,238)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,105,108)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,206,428)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(113,084)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(132,359)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(10,994,217)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21,709,525</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,402,210</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,356,093</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">117,604</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">238,078</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">434,919</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,098,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">47,357,040</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">91,758,158 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">47,318,029 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">31,701,975 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,582,403 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">239,265 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,945,185 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,635,611 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">185,180,626 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Accumulated depreciation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(68,987,352)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(31,327,988)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(26,191,762)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,369,917)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,491,226)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(138,368,245)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">22,770,806</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15,990,041</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,510,213</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">212,486</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">239,265</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">453,959</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,635,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">46,812,381</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">94,868,938 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">52,291,576 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">32,937,369 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,585,887 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">238,078 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,078,455 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,098,611 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">195,098,914 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Accumulated depreciation</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(73,159,413)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(34,889,366)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(27,581,276)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,468,283)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,643,536)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(147,741,874)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21,709,525</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,402,210</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,356,093</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">117,604</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">238,078</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">434,919</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,098,611</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">47,357,040</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Additions from property and equipment mainly refers to: (i) in 2025 Investments were primarily directed towards expanding the 5G mobile network and strengthening FTTH to support the growth of connected customers. These investments demonstrate the Company's commitment to the quality of services provided, ensuring robust and consistent commercial performance throughout the year, in both B2C and B2B; .(ii) in 2024: Investments were primarily directed towards accelerating the 5G mobile network, as well as strengthening transmission backhaul, backbone and network, and FTTH customers. These were some of the initiatives that boosted our commercial growth this year, reinforcing our commitment to the quality of our services and ensuring healthy and consistent growth.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In infrastructure, includes the amount</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">s of R$213,077 and R$74,258 </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> in 2025 and 2024, respectively, referring to the cancellation of lease agreements.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Total balances refer to transfers between classes of fixed and intangible assets (Note 14.c.).</span></div> 23266868000 14929179000 5401694000 421385000 249536000 512930000 1536555000 46318147000 162171000 4707950000 85285000 32000 117026000 6002568000 11075032000 -10653000 -111421000 -469000 -536000 -10271000 -8182000 -141532000 3266774000 358091000 2185708000 36752000 12947000 -5895330000 -35058000 -65290000 -65290000 533000 532000 1065000 3914354000 3829001000 2162005000 245147000 189476000 10339983000 22770806000 15990041000 5510213000 212486000 239265000 453959000 1635611000 46812381000 140156000 3636211000 90341000 590000 171553000 6069736000 10108587000 -2810000 -217861000 -17000 -643000 -6750000 -11572000 -239653000 3235811000 547154000 1961984000 17612000 -53752000 -5710107000 -1298000 -4873000 -4873000 -7399000 -1362000 -8761000 217000 217000 1563540000 818000 1061000 114083000 1679502000 2800000 505000 990000 860000 5155000 4437238000 4105108000 2206428000 113084000 132359000 10994217000 21709525000 17402210000 5356093000 117604000 238078000 434919000 2098611000 47357040000 91758158000 47318029000 31701975000 6582403000 239265000 5945185000 1635611000 185180626000 -68987352000 -31327988000 -26191762000 -6369917000 0 -5491226000 0 -138368245000 22770806000 15990041000 5510213000 212486000 239265000 453959000 1635611000 46812381000 94868938000 52291576000 32937369000 6585887000 238078000 6078455000 2098611000 195098914000 -73159413000 -34889366000 -27581276000 -6468283000 0 -5643536000 0 -147741874000 21709525000 17402210000 5356093000 117604000 238078000 434919000 2098611000 47357040000 213077000 -74258000 432091000 864182000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below is a summary of the annual depreciation rates for the years ended December 31, 2025 and 2024, excluding lease assets, which are disclosed in Note 13.e.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:64.417%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.811%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.811%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.232%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Description</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Switching and transmission equipment and media</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.50%</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">66.67%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.50%</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">66.67%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Infrastructure</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.50%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.50%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Lending equipment</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Terminal equipment</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other P&amp;E assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">50.00%</span></td></tr></table></div> 0.0250 0.6667 0.0250 0.6667 0.0250 0.5000 0.0250 0.5000 0.2000 0.5000 0.2000 0.5000 0.1000 0.5000 0.1000 0.5000 0.1000 0.5000 0.1000 0.5000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the movement of leases, already included in the tables for the movement of fixed assets (Note 13.c.).</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.727%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.265%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Infrastructure</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Switching and transmission equipment</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,862,992</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">203,519</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,080,117</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,634,552 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">139,125 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">702 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,774,379 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Subletting (Note 13.c.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(65,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(65,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,364,821)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(79,390)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,028)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,453,239)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cancellation of contracts</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(74,258)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(10,123)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(21)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(84,402)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other changes</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,947)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,947)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,989,228</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">253,131</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,259</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,247,618</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,508,375 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">128,257 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,505 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,700,137 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Subletting (Note 13.c.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,873)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,873)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,615,053)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(89,852)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(18,513)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,723,418)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cancellation of contracts</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(213,077)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,050)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(214,127)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">110,330 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">110,330 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - Cyber (Note 1.c.6)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">380 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">380 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,775,310</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">290,486</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50,251</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,116,047</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">29,418,847 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">520,634 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">130,315 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30,069,796 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accumulated depreciation</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(16,429,619)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(267,503)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(125,056)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(16,822,178)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,989,228</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">253,131</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,259</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,247,618</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,014,344 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">638,473 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">193,117 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">32,845,934 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accumulated depreciation</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19,239,034)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(347,987)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(142,866)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(19,729,887)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,775,310</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">290,486</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50,251</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,116,047</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iaaa05b09176b4d88bf572832563b40c0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">13.e.2. Depreciation rates </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the annual depreciation rates for the years ended December 31, 2025 and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.865%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.934%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.673%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.934%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.934%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.673%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.939%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Description</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Infrastructure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.36%</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">92.31%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.36%</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">92.31%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Switching and transmission equipment and media</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">66.67%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">66.67%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other P&amp;E assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">26.09%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37.50%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">26.09%</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">40.00%</span></td></tr></table></div> 11862992000 203519000 13606000 12080117000 4634552000 139125000 702000 4774379000 -65290000 -65290000 -3364821000 -79390000 -9028000 -3453239000 -74258000 -10123000 -21000 -84402000 -3947000 -3947000 12989228000 253131000 5259000 13247618000 3508375000 128257000 63505000 3700137000 -4873000 -4873000 -3615053000 -89852000 -18513000 -3723418000 -213077000 -1050000 -214127000 110330000 110330000 380000 380000 12775310000 290486000 50251000 13116047000 29418847000 520634000 130315000 30069796000 -16429619000 -267503000 -125056000 -16822178000 12989228000 253131000 5259000 13247618000 32014344000 638473000 193117000 32845934000 -19239034000 -347987000 -142866000 -19729887000 12775310000 290486000 50251000 13116047000 0.0236 0.9231 0.0236 0.9231 0.1000 0.6667 0.1000 0.6667 0.2609 0.3750 0.2609 0.4000 9675000 29414000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="ife67c2a597b24188a9f7bb2e53763b80"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">14. INTANGIBLE ASSETS</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i8915d15716924c499992bcc395843aad"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">14.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Intangible assets acquired separately are measured at acquisition / formation cost upon their initial recognition. The cost of an intangible asset are capitalized until the asset becomes operational. The cost of an intangible asset acquired in a business combination is its fair value at the acquisition date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">After initial recognition, intangible assets are stated at acquisition and/or buildup cost, net of amortization and accumulated provision for impairment, where applicable. Intangible assets generated internally, excluding capitalized development costs, are not capitalized, and the expense is reflected in the statement of income for the year in which it is incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The useful lives of intangible assets are considered finite or indefinite.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Intangible assets with finite useful lives</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are amortized over their economic useful lives under the straight-line method and are tested for impairment whenever there is any indication of impairment loss. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed on an annual basis.<br/><br/>Changes in the estimated useful life or the expected pattern of consumption of future economic benefits embodied in an asset are accounted for by changing the amortization period or method, as appropriate, and treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the statement of income in the cost/expense category consistent with the function of the intangible assets.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Intangible assets with indefinite useful lives (goodwill)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are not amortized, but are tested for impairment annually, either individually or at the CGU level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be justifiable. Otherwise, changes in useful life – from indefinite to finite - are carried out prospectively. Goodwill generated upon investment acquisition is treated as an intangible asset with indefinite useful lives.<br/><br/>When goodwill has been allocated to a CGU and part of the operation within that CGU is disposed that, the goodwill associated with that operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is allocated based on the relative fair values of the disposed operation and the portion of the CGU retained.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Gains and losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and recognized in the statement of income on disposal. </span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i72c3368acf054e6399e1d29bd58e022a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">14.b. Critical estimates and judgments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The accounting treatment of the investment in intangible assets includes making estimates to determine the useful life for amortization purposes, particularly for assets acquired in business combinations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The determination of the useful lives requires estimates in relation to the expected technological evolution and the alternative use of the assets. Hypotheses related to the technological aspect and its future development imply a significant degree of analysis, since the timing and nature of future technological changes are difficult to predict.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Information on the recoverability of fixed assets is presented in Note 15.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i1aa21161ec414a33acb8a538ece70aa0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">14.c. Breakdown and changes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">A brief description of the key intangible asset items with finite useful lives, is as follows:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Licenses:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> These include concession and authorization licenses, acquired from ANATEL for provision of telecommunication services. These also include licenses from business combinations.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Software:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> This includes licenses for software used in the Company’s operating, commercial and administrative activities.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Brands, customer base and other intangibles</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: These comprise intangible assets acquired through a business combination. Other intangibles include non-compete agreements and relationships with customers and suppliers and service providers.</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.527%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Indefinite useful life</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Finite useful life</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Goodwill</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Licenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Software</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Trademarks</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Customer portfolio</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other intangible assets</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Software under development</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">26,390,696</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,887,059</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,056,999</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">571,902</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">205,800</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,021</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">802,498</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,962,975</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Additions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">23,919 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,865,816 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,889,735 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs, net</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,592)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(650)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,242)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net transfers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,874,907 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,839,849)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">35,058 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">174,439 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">10,099 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">28,749 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">27,136 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">240,423 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Amortization (Note 26.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,315,724)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,341,474)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(85,829)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(112,423)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,852)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,862,302)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">26,565,135</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13,595,254</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,586,840</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">496,172</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">122,126</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,305</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">827,815</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,261,647</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Additions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">52,185 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,857,630 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,909,815 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net transfers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,895,510 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(80)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(102)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(205)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,893,825)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,298 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – Samauma (Note 1.c.1)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">38,590 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,460 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">21,290 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">65,346 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,960 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(130)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(172)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,658 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">631,169 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">42,203 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">445 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,836 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">677,653 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – Cyber (Note 1.c.6)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Amortization (Note 26.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,318,276)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,476,810)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(87,889)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(53,770)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(13,442)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,950,187)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">27,236,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12,276,978</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,101,162</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">414,108</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">71,960</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">75,776</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">791,620</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">47,968,458</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">26,565,135 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">29,772,875 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">30,772,551 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,673,846 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,577,691 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">315,248 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">827,815 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">94,505,161 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Accumulated amortization</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(16,177,621)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(24,185,711)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,177,674)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,455,565)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(246,943)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(46,243,514)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">26,565,135</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13,595,254</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,586,840</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">496,172</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">122,126</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,305</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">827,815</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,261,647</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">27,236,854 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">29,772,875 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">33,811,189 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,679,752 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,583,991 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">336,367 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">791,620 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">98,212,648 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Accumulated amortization</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(17,495,897)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(26,710,027)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,265,644)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,512,031)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(260,591)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(50,244,190)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">27,236,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12,276,978</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,101,162</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">414,108</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">71,960</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">75,776</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">791,620</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">47,968,458</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refer to the operations of Santo Genovese Participações (2004); Spanish and Figueira (2006); Telefônica Televisão Participações (2008); Vivo Participações (2011); GVT Participações (2015), Garliava and Vita IT (2022), Vale Saúde Sempre (2023), IPNET (2024), Samauma and FiBrasil (2025).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Licenses refer to the extension of authorization for the right to use radio frequencies for the operation of the SMP (Mobile Personal Service).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Total balances refer to transfers between classes of property and equipment and intangible assets (Note 13.c.).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic67cb11564dd4f94bab93fdb564483ea"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">14.d. Amortization rates</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the annual amortization rates for the years ended December 31, 2025 and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.555%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.943%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Description</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Licenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3.60</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24.00</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3.60</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24.00</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Softwares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="8" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="8" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trademarks</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5.13</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23.53</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5.13</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23.50</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Customer portfolio</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.69%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9.52</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.70</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other intangible assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.67%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.67</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr></table></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i8915d15716924c499992bcc395843aad"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">14.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Intangible assets acquired separately are measured at acquisition / formation cost upon their initial recognition. The cost of an intangible asset are capitalized until the asset becomes operational. The cost of an intangible asset acquired in a business combination is its fair value at the acquisition date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">After initial recognition, intangible assets are stated at acquisition and/or buildup cost, net of amortization and accumulated provision for impairment, where applicable. Intangible assets generated internally, excluding capitalized development costs, are not capitalized, and the expense is reflected in the statement of income for the year in which it is incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The useful lives of intangible assets are considered finite or indefinite.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Intangible assets with finite useful lives</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are amortized over their economic useful lives under the straight-line method and are tested for impairment whenever there is any indication of impairment loss. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed on an annual basis.<br/><br/>Changes in the estimated useful life or the expected pattern of consumption of future economic benefits embodied in an asset are accounted for by changing the amortization period or method, as appropriate, and treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the statement of income in the cost/expense category consistent with the function of the intangible assets.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Intangible assets with indefinite useful lives (goodwill)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are not amortized, but are tested for impairment annually, either individually or at the CGU level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be justifiable. Otherwise, changes in useful life – from indefinite to finite - are carried out prospectively. Goodwill generated upon investment acquisition is treated as an intangible asset with indefinite useful lives.<br/><br/>When goodwill has been allocated to a CGU and part of the operation within that CGU is disposed that, the goodwill associated with that operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is allocated based on the relative fair values of the disposed operation and the portion of the CGU retained.</span></div>Gains and losses arising from derecognition of an intangible asset are measured as the difference between the net disposal proceeds and the carrying amount of the asset and recognized in the statement of income on disposal. <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.951%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.527%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Indefinite useful life</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Finite useful life</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Goodwill</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Licenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Software</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Trademarks</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Customer portfolio</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other intangible assets</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Software under development</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">26,390,696</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,887,059</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,056,999</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">571,902</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">205,800</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,021</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">802,498</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,962,975</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Additions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">23,919 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,865,816 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,889,735 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs, net</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,592)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(650)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,242)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net transfers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,874,907 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,839,849)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">35,058 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">174,439 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">10,099 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">28,749 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">27,136 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">240,423 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Amortization (Note 26.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,315,724)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,341,474)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(85,829)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(112,423)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,852)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,862,302)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">26,565,135</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13,595,254</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,586,840</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">496,172</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">122,126</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,305</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">827,815</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,261,647</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Additions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">52,185 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,857,630 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,909,815 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net transfers</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,895,510 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(80)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(102)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(205)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,893,825)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,298 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – Samauma (Note 1.c.1)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">38,590 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,460 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">21,290 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">65,346 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,960 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(130)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(172)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,658 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">631,169 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">42,203 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">445 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,836 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">677,653 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – Cyber (Note 1.c.6)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,228 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Amortization (Note 26.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,318,276)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,476,810)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(87,889)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(53,770)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(13,442)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,950,187)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">27,236,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12,276,978</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,101,162</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">414,108</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">71,960</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">75,776</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">791,620</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">47,968,458</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">26,565,135 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">29,772,875 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">30,772,551 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,673,846 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,577,691 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">315,248 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">827,815 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">94,505,161 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Accumulated amortization</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(16,177,621)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(24,185,711)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,177,674)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,455,565)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(246,943)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(46,243,514)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">26,565,135</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13,595,254</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,586,840</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">496,172</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">122,126</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,305</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">827,815</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,261,647</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Cost</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">27,236,854 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">29,772,875 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">33,811,189 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,679,752 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,583,991 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">336,367 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">791,620 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">98,212,648 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Accumulated amortization</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(17,495,897)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(26,710,027)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,265,644)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,512,031)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(260,591)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(50,244,190)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">27,236,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12,276,978</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,101,162</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">414,108</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">71,960</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">75,776</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">791,620</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">47,968,458</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refer to the operations of Santo Genovese Participações (2004); Spanish and Figueira (2006); Telefônica Televisão Participações (2008); Vivo Participações (2011); GVT Participações (2015), Garliava and Vita IT (2022), Vale Saúde Sempre (2023), IPNET (2024), Samauma and FiBrasil (2025).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Licenses refer to the extension of authorization for the right to use radio frequencies for the operation of the SMP (Mobile Personal Service).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Total balances refer to transfers between classes of property and equipment and intangible assets (Note 13.c.).</span></div> 26390696000 14887059000 6056999000 571902000 205800000 48021000 802498000 48962975000 23919000 2865816000 2889735000 -3592000 -650000 -4242000 2874907000 -2839849000 35058000 174439000 10099000 28749000 27136000 240423000 1315724000 2341474000 85829000 112423000 6852000 3862302000 26565135000 13595254000 6586840000 496172000 122126000 68305000 827815000 48261647000 52185000 2857630000 2909815000 2895510000 -80000 -102000 -205000 -2893825000 1298000 38590000 6000 5460000 21290000 65346000 1960000 130000 172000 1658000 631169000 42203000 445000 3836000 677653000 1228000 1228000 1318276000 2476810000 87889000 53770000 13442000 3950187000 27236854000 12276978000 7101162000 414108000 71960000 75776000 791620000 47968458000 26565135000 29772875000 30772551000 1673846000 4577691000 315248000 827815000 94505161000 0 -16177621000 -24185711000 -1177674000 -4455565000 -246943000 0 -46243514000 26565135000 13595254000 6586840000 496172000 122126000 68305000 827815000 48261647000 27236854000 29772875000 33811189000 1679752000 4583991000 336367000 791620000 98212648000 0 -17495897000 -26710027000 -1265644000 -4512031000 -260591000 0 -50244190000 27236854000 12276978000 7101162000 414108000 71960000 75776000 791620000 47968458000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the annual amortization rates for the years ended December 31, 2025 and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.555%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:1.917%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.943%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Description</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Licenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3.60</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24.00</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3.60</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">24.00</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Softwares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="8" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="8" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trademarks</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5.13</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23.53</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5.13</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">23.50</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Customer portfolio</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.69%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9.52</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.70</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other intangible assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.67%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25.00%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.67</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">to</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20.00</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr></table></div> 0.0360 0.2400 0.0360 0.2400 0.2000 0.2000 0.0513 0.2353 0.0513 0.2350 0.1000 0.2069 0.0952 0.2070 0.0667 0.2500 0.0667 0.2000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="if5e22c7e8dca4f56bb26de77f9067490"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">15. IMPAIRMENT OF NON-FINANCIAL ASSETS</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i20b270b3fdeb4f99ba9210ec155583c9"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">15.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company annually reviews the net carrying amount of assets in order to evaluate events or changes in economic, operating or technological circumstances that may indicate impairment losses. When such evidence is found, and net carrying amount exceeds recoverable amount, a provision for impairment is recorded so as to adjust the net carrying amount to the recoverable amount. The recoverable amount of an asset or a Cash-Generating Unit ("CGU") is defined as the higher of value in use and net sales value. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Considering the convergence of product and service offerings, in addition, the Company's main operating asset is a single, broadly integrated network, which is used to provide all telecommunications services to its customers, the Company defines your business as a single CGU.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Upon estimation of the value in use of an asset or cash-generating unit, estimated future cash flows are discounted at present value using a discount rate Weighted Average Cost of Capital “WACC” which reflects the weighted rate between (i) the cost of capital (including specific risks) based on the Capital Asset Pricing Model; and (ii) the debt these components being applicable to the asset or CGU before taxes. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The net fair value of sales is determined, whenever possible, based on recent market transactions between knowledgeable and interested parties with similar assets. In the absence of observable transactions in this regard, an appropriate valuation methodology is used. The calculations provided in this model are corroborated by available fair value indicators, such as prices quoted for listed entities, among other available indicators.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For assets excluding goodwill, an assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If the indication exists, the Company estimates the recoverable amount of the asset or the CGU.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine an asset’s or CGU recoverable amount since the last impairment loss was recognized. Any reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount or exceeds the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the statement of income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The following assets have specific characteristics for impairment testing:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Goodwill:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Goodwill is tested for impairment annually at the reporting date or earlier when circumstances indicate that the carrying amount may be impaired. Where the recoverable amount is lower than the carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Intangible assets:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Intangible assets with indefinite useful lives are tested for impairment annually at the reporting date either individually or at the CGU level, as appropriate, and when circumstances indicate that the carrying amount may be impaired.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Determination of value in use of property and equipment, goodwill and intangibles:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> The key assumptions used to estimate value in use through the discounted cash flow methodology are: (i) revenues (projected considering the growth in customer base, growth in market revenue against GDP and the Company’s share of this market); (ii) variable costs and expenses (projected in accordance with the dynamics of the customer base, and fixed costs are projected in line with the historical performance of the Company, as well as with revenue growth); and (iii) capital investments (estimated considering the technological infrastructure necessary to enable the provision of services).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ia070e5aa25dc4a318a42461a20367593"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">15.b. Critical estimates and judgments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">An impairment loss exists when the carrying amount of an asset or CGU exceeds its recoverable amount, which is the greater of fair value net of selling expenses and value in use. The calculation of fair value net of selling expenses is based on information available from transactions for the sale of similar assets or market prices less selling expenses. The value in use calculation is based on the discounted cash flow model. Cash flows derive from the budget for the next five years and do not include reorganization activities to which the Company and its subsidiaries have not yet committed or significant future investments that will improve the asset base of the CGU, which is the object of testing. The recoverable amount is sensitive to critical estimates of the discount rate used in the discounted cash flow method, as well as revenue growth.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ibce40c91d3344558922b0e7f0cad436a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">15.c. Assumptions used in the calculation of value in use:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The value in use is mainly impacted by the following assumptions:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Revenue growth</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: based on observation of the historical behavior of each revenue line, as well as trends based on market analysis. Revenue projections differ significantly between product and service lines, with sustained growth driven by capturing greater value through customer convergence/totalization (postpaid + fiber) and the acceleration of B2C and B2B digital services, and a contraction in IPTV and voice reflecting market trends and technology/portfolio migrations.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Discount rate:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> represents the assessment of risks in the current market. The calculation of the discount rate is based on the Company’s specific circumstances and being calculated based on the WACC. The WACC takes into account both debt and equity. The cost of equity is derived from the expected return on investment by Company investors. The cost of debt is based on loans with interest income that the Company is obliged to honor. The specific risk business is incorporated by applying individual notably Beta factors.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Growth rate in perpetuity:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> reflects the Company's ability to generate cash flow beyond the period covered by Management's forecasts or budgets. This rate reflects the expectation of long-term growth in the Company's normalized cash flow, considering results and investments with stable growth over the projected period.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i3546ae8b440d42d3ae77f029f8247621"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">15.d. Goodwill impairment testing</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Annually, the Company assesses the recovery of the carrying value of goodwill using the concept of value in use.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The process of determining value in use involves the use of assumptions, judgments and estimates about cash flows, such as revenue growth rates, costs and expenses, estimates of future investments and working capital and discount rates. The assumptions regarding growth and cash flow projections are based on Management estimates, market studies and macroeconomic projections. Future cash flows are discounted based on the WACC.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Consistent with the economic analysis techniques, the assessment of value in use is made for a period of 5 years, and thereafter, considering the perpetuity of the assumptions based on the capacity of business continuity for an indefinite time. Management considered that the period of five years is adequate, based on its past experience in preparing cash flow projections.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The estimated future cash flows were discounted at a discount rate of 11.57% and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">11.40%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, which before taxes are 13.7% and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">13.25%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in 2025 and 2024, respectively, also in nominal values.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The nominal growth rate used to extrapolate projections beyond the 5 years period was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">4.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> p.y. in 2025 and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The inflation rate for the period analyzed in the projected cash flows was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">4.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> p.y. in 2025 and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Key assumptions were based on the Company’s historical performance and reasonable macroeconomic assumptions grounded on financial market projections, documented and approved by the Company’s management.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Based on annual impairment testing of the Company’s assets, prepared using projections considering the financial statements on December 31, 2025 and 2024, growth projections and operating results for the year ended December 31, 2025 and 2024, no impairment losses or evidence of losses were identified, as the value in use exceeds the net carrying amount as of the assessment date.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i20a51a8560ec45688834b4754245415f"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">15.e. Sensitivity to changes in key assumptions:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The recoverable amount of the CGU represented a surplus in relation to the carrying amount, on December 31, 2025 and 2024, respectively. To ensure efficient control, the Company uses a sensitivity analysis in the recoverability test, taking into account possible variations in the main assumptions adopted in the test, individually, in order to assess their impact on the value in use.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company performed sensitivity analyses of the main assumptions used in the impairment test of the CGU for the fiscal year ended December 31, 2025, encompassing the variables WACC, perpetual growth rate (g), and projected Net Revenue, OpEx, and CapEx (operational assumptions). For WACC, a range between 11.07% and 12.07% was considered. For the growth rate (g), a range of 3.50% and 4.50% was considered. For the operational assumptions, reduction and growth ranges from -1.50% to +1.50% were considered. Therefore, based on the results presented in the sensitivity tests, the Company confirmed that there was no recognition of impairment losses in the carrying amount for the years ended December 31, 2025, and 2024.</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i20b270b3fdeb4f99ba9210ec155583c9"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">15.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company annually reviews the net carrying amount of assets in order to evaluate events or changes in economic, operating or technological circumstances that may indicate impairment losses. When such evidence is found, and net carrying amount exceeds recoverable amount, a provision for impairment is recorded so as to adjust the net carrying amount to the recoverable amount. The recoverable amount of an asset or a Cash-Generating Unit ("CGU") is defined as the higher of value in use and net sales value. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Considering the convergence of product and service offerings, in addition, the Company's main operating asset is a single, broadly integrated network, which is used to provide all telecommunications services to its customers, the Company defines your business as a single CGU.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Upon estimation of the value in use of an asset or cash-generating unit, estimated future cash flows are discounted at present value using a discount rate Weighted Average Cost of Capital “WACC” which reflects the weighted rate between (i) the cost of capital (including specific risks) based on the Capital Asset Pricing Model; and (ii) the debt these components being applicable to the asset or CGU before taxes. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The net fair value of sales is determined, whenever possible, based on recent market transactions between knowledgeable and interested parties with similar assets. In the absence of observable transactions in this regard, an appropriate valuation methodology is used. The calculations provided in this model are corroborated by available fair value indicators, such as prices quoted for listed entities, among other available indicators.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For assets excluding goodwill, an assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If the indication exists, the Company estimates the recoverable amount of the asset or the CGU.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine an asset’s or CGU recoverable amount since the last impairment loss was recognized. Any reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount or exceeds the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the statement of income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The following assets have specific characteristics for impairment testing:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Goodwill:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Goodwill is tested for impairment annually at the reporting date or earlier when circumstances indicate that the carrying amount may be impaired. Where the recoverable amount is lower than the carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Intangible assets:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Intangible assets with indefinite useful lives are tested for impairment annually at the reporting date either individually or at the CGU level, as appropriate, and when circumstances indicate that the carrying amount may be impaired.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Determination of value in use of property and equipment, goodwill and intangibles:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> The key assumptions used to estimate value in use through the discounted cash flow methodology are: (i) revenues (projected considering the growth in customer base, growth in market revenue against GDP and the Company’s share of this market); (ii) variable costs and expenses (projected in accordance with the dynamics of the customer base, and fixed costs are projected in line with the historical performance of the Company, as well as with revenue growth); and (iii) capital investments (estimated considering the technological infrastructure necessary to enable the provision of services).</span></div> 0.1157 0.1140 0.137 0.1325 P5Y 0.040 0.040 0.1107 0.1207 0.0350 0.0450 -0.0150 0.0150 <div style="margin-bottom:10pt;margin-top:20pt"><span id="id5243287d5444afc90637a83ec612924"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">16. PERSONNEL, SOCIAL CHARGES AND BENEFITS</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic18ac3a5077f4f90a2617332dc8078c8"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">16.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Salaries, remunerations and profit sharing are negotiated in collective bargaining agreements, with the corresponding social charges and contributions added by the accrual basis. The profit-sharing program for employees is based on the Company's operating and financial goals, and a provision is recognized when the assumptions for its accounting are satisfied.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Personnel costs and expenses, social charges and benefits are recorded as cost of services provided, commercial expenses or general and administrative expenses (Note 26.).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i81703883b2bc45f59908ad476811e242"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">16.b. Breakdown</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social charges and benefits</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">645,291 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">614,595 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Profit sharing</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">533,219 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">514,902 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share-based payment plans (Note 30.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">154,736 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126,019 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Salaries and wages</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">94,518 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">46,747 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31,611 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,650 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,459,375</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,313,913</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,346,202 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,238,452 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">113,173 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">75,461 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic18ac3a5077f4f90a2617332dc8078c8"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">16.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Salaries, remunerations and profit sharing are negotiated in collective bargaining agreements, with the corresponding social charges and contributions added by the accrual basis. The profit-sharing program for employees is based on the Company's operating and financial goals, and a provision is recognized when the assumptions for its accounting are satisfied.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Personnel costs and expenses, social charges and benefits are recorded as cost of services provided, commercial expenses or general and administrative expenses (Note 26.).</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i81703883b2bc45f59908ad476811e242"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">16.b. Breakdown</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Social charges and benefits</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">645,291 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">614,595 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Profit sharing</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">533,219 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">514,902 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share-based payment plans (Note 30.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">154,736 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126,019 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Salaries and wages</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">94,518 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">46,747 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31,611 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,650 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,459,375</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,313,913</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,346,202 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,238,452 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">113,173 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">75,461 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 645291000 614595000 533219000 514902000 154736000 126019000 94518000 46747000 31611000 11650000 1459375000 1313913000 1346202000 1238452000 113173000 75461000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="icaa03ee3bc6e45e5a8d8a7303bc860de"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">17. TRADE ACCOUNTS PAYABLE</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifea4194f35f5437aa82a44f594246531"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">17.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are obligations to pay for goods or services that were acquired in the normal course of business. They are initially recognized at fair value and subsequently measured at amortized cost using the effective tax rate method, if applicable.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and/or its subsidiaries do not have financing agreements with suppliers.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i2260bf1b255f468eb8a2470d091b0482"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">17.b. Breakdown</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sundry suppliers (Opex, Capex, Services e Material)</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,020,559 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,194,196 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Related parties (Note 29.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">319,751 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">546,069 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Amounts payable (operators, cobilling)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">291,670 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">246,659 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Interconnection / interlink</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">229,314 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">243,700 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,861,294</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,230,624</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifea4194f35f5437aa82a44f594246531"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">17.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are obligations to pay for goods or services that were acquired in the normal course of business. They are initially recognized at fair value and subsequently measured at amortized cost using the effective tax rate method, if applicable.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and/or its subsidiaries do not have financing agreements with suppliers.</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i2260bf1b255f468eb8a2470d091b0482"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">17.b. Breakdown</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sundry suppliers (Opex, Capex, Services e Material)</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,020,559 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,194,196 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Related parties (Note 29.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">319,751 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">546,069 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Amounts payable (operators, cobilling)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">291,670 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">246,659 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Interconnection / interlink</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">229,314 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">243,700 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,861,294</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,230,624</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 9020559000 8194196000 319751000 546069000 291670000 246659000 229314000 243700000 9861294000 9230624000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="ifadc9ec498174bffb860c6f5c418dfdb"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">18. TAXES, CHARGES AND CONTRIBUTIONS PAYABLE</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Fistel</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,147,772 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,713,786 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ICMS </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,417,412 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,328,010 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">PIS and COFINS </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">233,775 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">370,312 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Fust and Funttel </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">106,635 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">102,773 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other taxes </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">191,812 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,639 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,097,406</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,714,520</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,516,170 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,585,936 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,581,236 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,128,584 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to outstanding balances from 2020 to 2025 whose enforceability is suspended, according to decisions of the Federal Regional Court of the First Region, and there is no prospect of the judgment being concluded in the short term. The amount is classified as a non-current liability and is updated by the Selic rate.</span></div> <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Fistel</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,147,772 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,713,786 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ICMS </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,417,412 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,328,010 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">PIS and COFINS </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">233,775 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">370,312 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Fust and Funttel </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">106,635 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">102,773 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other taxes </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">191,812 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,639 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,097,406</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,714,520</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,516,170 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,585,936 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,581,236 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,128,584 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to outstanding balances from 2020 to 2025 whose enforceability is suspended, according to decisions of the Federal Regional Court of the First Region, and there is no prospect of the judgment being concluded in the short term. The amount is classified as a non-current liability and is updated by the Selic rate.</span></div> 6147772000 4713786000 1417412000 1328010000 233775000 370312000 106635000 102773000 191812000 199639000 8097406000 6714520000 1516170000 1585936000 6581236000 5128584000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="ib2181bdc6fe044f5b83c356b9248e77d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">19. DIVIDENDS AND INTEREST ON EQUITY ("IOE")</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iaf1f08bb08be435b85ab7855d4f3e8fb_1639"></span><span id="ic7c11d8b46e5420b878116dfcf326762"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">19.a. Accounting policy</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i978f689d383f42ad94c69c9d84fd2d43"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.a.1. Dividends</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Minimum mandatory dividends are stated in the balance sheet as legal obligations (provision in current liabilities). Dividends in excess of such minimum amount, not yet approved in the Shareholders’ Meeting, are recorded in equity as proposed additional dividends. After approval at the Shareholders’ Meeting, the dividends in excess of the mandatory minimum are transferred to current liabilities and classified as legal obligations.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iaec5facdeaaf4a1c878b140f9096cbfa"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.a.2. Interest on equity</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Brazilian legislation allows companies to pay interest on equity, which is similar to payment of dividends; however, this is deductible for income tax calculation purposes. In order to comply with Brazilian tax legislation, the Company and its subsidiaries provision, in its accounting records, the amount due to match against the financial expenses account in the statement of income for the year. For the presentation of these financial statements, that expense is reversed against a direct charge to equity, resulting in the same accounting treatment adopted for dividends. The distribution of interest on equity to shareholders is subject to withholding income tax at a 15% rate.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i789fb94d75474743b0c58b1429ad5989"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.a.3. Unclaimed dividends and interest on equity</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:3.8pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The rights to receive unclaimed interest on equity and dividends prescribe after three years from the initial date available for payment. When dividends and interest on equity expire, these amounts are reversed to retained earnings.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ib07972abc49d410fb09ae207a13d8e3d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">19.b. Dividends and interest on equity payable</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5fde752bc90942bfb9464e27710e26e7"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.b.1. Breakdown</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:74.762%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,002,973 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">742,819 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">962,667 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">712,945 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,481 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,096 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica IoT &amp; Big Data Tech, S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,975 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-controlling interest</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">807,423 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">778,255 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,774,544</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,237,090</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In 2024, the amount payable to Telefónica IoT &amp; Big Data Tech refers to the interest on equity and dividends approved by IoTCo Brasil.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i78422a428fd146209d033ad64d9e2d79"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.b.2. Changes</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:74.762%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the beginning of the fiscal year</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,237,090</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,247,884</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Interim dividends and interest on equity (net of IRRF) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,864,500 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,641,225 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Unclaimed dividends and interest on equity</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(150,553)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(126,977)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payment of dividends and interest on equity</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,187,402)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,532,399)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IRRF on shareholders exempt/immune from interest on equity</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,909 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,357 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,774,544</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,237,090</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iaf1f08bb08be435b85ab7855d4f3e8fb_1639"></span><span id="ic7c11d8b46e5420b878116dfcf326762"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">19.a. Accounting policy</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i978f689d383f42ad94c69c9d84fd2d43"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.a.1. Dividends</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Minimum mandatory dividends are stated in the balance sheet as legal obligations (provision in current liabilities). Dividends in excess of such minimum amount, not yet approved in the Shareholders’ Meeting, are recorded in equity as proposed additional dividends. After approval at the Shareholders’ Meeting, the dividends in excess of the mandatory minimum are transferred to current liabilities and classified as legal obligations.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iaec5facdeaaf4a1c878b140f9096cbfa"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.a.2. Interest on equity</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Brazilian legislation allows companies to pay interest on equity, which is similar to payment of dividends; however, this is deductible for income tax calculation purposes. In order to comply with Brazilian tax legislation, the Company and its subsidiaries provision, in its accounting records, the amount due to match against the financial expenses account in the statement of income for the year. For the presentation of these financial statements, that expense is reversed against a direct charge to equity, resulting in the same accounting treatment adopted for dividends. The distribution of interest on equity to shareholders is subject to withholding income tax at a 15% rate.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i789fb94d75474743b0c58b1429ad5989"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.a.3. Unclaimed dividends and interest on equity</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:3.8pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The rights to receive unclaimed interest on equity and dividends prescribe after three years from the initial date available for payment. When dividends and interest on equity expire, these amounts are reversed to retained earnings.</span></div> 0.15 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5fde752bc90942bfb9464e27710e26e7"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.b.1. Breakdown</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:74.762%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,002,973 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">742,819 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">962,667 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">712,945 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,481 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,096 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica IoT &amp; Big Data Tech, S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,975 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-controlling interest</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">807,423 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">778,255 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,774,544</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,237,090</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1002973000 742819000 962667000 712945000 1481000 1096000 0 1975000 807423000 778255000 2774544000 2237090000 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i78422a428fd146209d033ad64d9e2d79"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">19.b.2. Changes</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:74.762%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the beginning of the fiscal year</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,237,090</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,247,884</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Interim dividends and interest on equity (net of IRRF) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,864,500 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,641,225 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Unclaimed dividends and interest on equity</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(150,553)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(126,977)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payment of dividends and interest on equity</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,187,402)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,532,399)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IRRF on shareholders exempt/immune from interest on equity</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,909 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,357 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,774,544</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,237,090</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 2237090000 2247884000 2864500000 2641225000 -150553000 -126977000 -2187402000 -2532399000 10909000 7357000 2774544000 2237090000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="ida9c394dbda9405d952d50e21b679830"></span><span style="background-color:#ffffff;color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">20. Provision and Contingencies</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="idcf3768d0eda4cc5af940d6f1b57810f"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">20.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, when it is probable that economic benefits are required to settle the obligation and a reliable estimate of the value of the obligation can be made. Provision is restated at the balance sheet date considering the likely amount of loss and the nature of each provision.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Provision amounts for contingencies are presented at their gross amount, less the corresponding judicial deposits, and are classified as provision for labor, tax, civil, and regulatory contingencies.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Judicial deposits are classified as assets given that the conditions required for their net presentation with provision do not exist.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company also discloses the contingencies in circumstances where management concludes (i) no loss is probable or reasonably estimable, but it is reasonably possible that a loss may be incurred; or (ii) in case of income tax pending litigations, it is probable that the taxation authority will accept the uncertain tax treatment. </span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="if2e777efcab147a489a05623b46b8051"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">20.b. Critical estimates and judgments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The obligation arising from the provisions can be legal or constructive, derived from, among other factors, regulations, contracts, customary practices or public commitments that expose third parties to a valid expectation that the Company or its subsidiaries will assume certain responsibilities. The determination of the provision is based on the best estimate of the disbursement required to settle the corresponding obligation, considering the information available as at the closing date, including the opinion of independent experts, such as legal advisors.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i1b57b4edfb1f456fbb2787c7af94f395"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">20.c. Information and changes of provisions and contingencies</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Information on the composition and movement of provision, the unfavorable outcome of which is considered probable, in addition to contingent liabilities, provision for dismantling, amounts to be refunded to customers and provision for fines for cancellation of lease contracts, is presented below.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Provision for legal demands:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> The Company and its subsidiaries are party to administrative; labor, tax, civil and regulatory claims; accounting provision are recorded in respect of claims when the likelihood of loss is classified as probable. The assessment of the likelihood of loss includes an analysis of available evidence, the hierarchy of laws, available case law, the latest court decisions law and their relevance in the legal system, as well as the advice of outside legal counsel. Provisions are reviewed and adjusted for changes in circumstances, such as the applicable statute of limitations, tax audit conclusions, or additional exposures identified based on new matters or court decisions.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Contingent liabilities (Purchase Price Allocation – PPA):</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> These refer to the amounts of contingent liabilities, recognized in a business combination, initially measured at fair value, arising from the PPAs generated in the acquisition of controlling stakes in Vivo Participações (2011), Global Village Participações (2015), Garliava and Vita IT (2022), VSS (2023), IPNET (2024), Samauma and FiBrasil (2025), related to civil, labor and tax litigation claims, as applicable, at their fair value in the business combination.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Provision for fines for canceling lease agreements:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Refers to the provision for fines for canceling lease agreements arising from Garliava (company acquired by the Company in 2022), resulting from the sale or shutdown of sites.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Provision for decommissioning of assets:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Refers to costs to be incurred due to returning sites to owners (locations intended for tower and equipment installation on leased property) to the same condition as the date of execution of the initial lease agreement. These costs are provisioned and discounted to present value for the amounts expected to settle the obligation using estimated cash flows and they are recognized as part of the cost of the corresponding asset. The cash flows are discounted at a current pre-tax rate that reflects the risks specific to decommissioning of assets. The financial effect of the discount is recorded as incurred and recognized in the statement of income as a finance cost. The estimated future costs of decommissioning are reviewed annually and adjusted as appropriate. Changes in the estimated future costs or in the discount rate applied are added to, or deducted from, the cost of the asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Amounts to be refunded to customers:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> On July 23, 2022, Complementary Law No. 194, was enacted, addressing taxes on various sectors considered by the respective Law as essential and indispensable goods and services, leading to a reduction in the tax rate ICMS on communications services and the respective refund of these amounts to customers. Three years after the enactment of the Law and the recognition of the provision, the Company assessed that there is no expectation of cash disbursements related to the matter and, in accordance with the criteria of IAS 37 / CPC 25, fully reversed the residual balance in 2025.</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.712%"><tr><td style="width:1.0%"></td><td style="width:23.251%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.842%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.547%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Provision for contingencies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Tax(1)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Regulatory(1)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Civil</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Labor</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Contingent liabilities (PPA)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Provision for fines for canceling lease agreements</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Provision for asset decommissioning</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Amounts to be refunded to customers</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,753,323</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,760,866</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,226,995</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">693,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,002,901</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">40,993</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">407,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">96,601</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,982,637</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Additions (reversal), net (Note 27.)</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">40,063 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(377,510)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">251,429 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">420,471 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(12,517)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(10,798)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(5,083)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">306,055 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Other additions (reversal)(1)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(489,082)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(410)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">14,929 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">9,642 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(464,921)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Write-offs due to payment</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(70,922)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(16,299)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(340,327)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(423,720)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(4,119)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(5,938)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(861,325)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">55,001 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">31,669 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">8,964 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">95,634 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Interest accruals (Note 28.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(265,396)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(215,962)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">273,044 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">213,409 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">76,201 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">409 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">81,705 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,022,987</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,151,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,411,141</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">935,541</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,075,139</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">41,005</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">412,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">90,663</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,139,785</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Additions (reversal), net (Note 27)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">106,581 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">16,042 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">257,986 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">377,994 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(26,740)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">3,296 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(25,920)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(90,663)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">618,576 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Other additions (reversal)(1)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(75,119)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(172,320)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">10,002 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(237,435)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Write-offs due to payment</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(62,457)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(10,162)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(392,614)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(519,069)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,544)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(2,351)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(988,197)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(38,123)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(24,795)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(62,918)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – Samauma (Note 1.c.1)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">4,784 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">573 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,462 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">7,819 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,528 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">24,065 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">25,593 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – Cyber (Note 1.c.6)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,663 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">158 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,821 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Net interest accruals (Note 28.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">144,755 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">89,307 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">158,152 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">206,620 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">113,253 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">14,228 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">726,315 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,105,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,073,962</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,434,665</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">978,552</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,186,635</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">41,950</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">410,524</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,231,359</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">160,947 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">195,063 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">573,679 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">701,300 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">5,075 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">41,005 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">3,265 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">90,663 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,770,997 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,862,040 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">956,032 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">837,462 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">234,241 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,070,064 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">408,949 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">5,368,788 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,022,987</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,151,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,411,141</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">935,541</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,075,139</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">41,005</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">412,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">90,663</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,139,785</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">89,274 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">55,651 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">749,193 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">662,626 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">8,166 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">41,950 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">596 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,607,456 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,015,797 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,018,311 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">685,472 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">315,926 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,178,469 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">409,928 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">5,623,903 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,105,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,073,962</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,434,665</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">978,552</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,186,635</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">41,950</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">410,524</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,231,359</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In 2025 and 2024, relevant events occurred in the movements of tax and regulatory provisions, as follows: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;text-decoration:underline">in 2025:</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> (i) tax: due to the Company's adherence to tax amnesty programs in several states of the Federation with gains from the reversal of operating expenses for contingency provisions of R$25,638 (note 27), gains from the reversal of financial expenses for monetary updating of contingency provisions of R$65,990 (note 28), and assumption of debt of R$75,119 (note 21)..; and (ii) regulatory: due to adherence to the Desenrola program.</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;text-decoration:underline"> In 2024</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">, relevant events occurred in the movements of provisions, namely: (i) Tax: write-off of R$885,471 due to the Company's adherence to tax amnesty programs in the States of SP and PR, with gains from the reversal of operating expenses of provision for contingencies of R$26,546 (note 27.), gains from the reversal of financial expenses of monetary updating of provisions for contingencies of R$374,271 (Note 28.) and assumption of debt of R$484,654 (Note 21.); and (ii) Regulatory: write-off of R$792,378 as a result of the Commitment Term Related to the Self-Composition Negotiations for Adapting the STFC Concession Contracts to Authorization Instruments, with gains from the reversal of operating expenses for contingency provisions </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">of R$386,392 (Note 27.) and gains from the reversal of financial expenses for monetary updating of contingency provisions of R$405,986 (Note 28.).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i4e0044ad2288486cbbf368e926dd08f2"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.1. Tax provision and contingencies</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">Tax Amnesty Programs</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below is a summary of the participations in tax amnesty programs that impacted the Company's contingency and financing provisions (note 21.c.3.3.).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">State of São Paulo Amnesty Program – Law 17,843/2023</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Government of the State of São Paulo established, through Law 17,843/2023, a debt settlement and installment program to encourage the regularization of debts by offering discounts (“Amnesty and Refinancing Program”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Based on the Law, the State Attorney General's Office (“PGE”) published notice no. 01/2024 enabling the transaction of ICMS debts, subject to late payment interest charges, higher than the SELIC, as long as in the courts with title executive (registration in Active State Debt). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The current discounts were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">100%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> for late payment interest and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">50%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> of the remaining balance, limited to the principal amount of the debt. Fees were charged to PGE on the total amount. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On April 22, 2024, the Company's Management, based on the opinion of its legal advisors, joined the Amnesty and Refinancing Program, for ICMS disputes, for the provisioned amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$727,821</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, which under according to the rules of the Program was reduced to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$371,052, </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">which will be paid in up to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">60</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> installments adjusted by the SELIC interest rate (Note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">21</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">State of Paraná Amnesty Program – Law 20,946/2021</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Government of the State of Paraná, through Law No. 20,946/2021, offered a debt settlement and installment program to taxpayers to encourage the regularization of debts with discounts (“Amnesty and Refinancing Program”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Based on the Law, Decree No. 5,471/2024 was issued, allowing payment with a </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">70%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> reduction in fines and interest. Fees were levied on the total reduced amount for the PGE.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On September 20, 2024, the Company's Management, based as advised by its legal counsel, joined the Amnesty and Refinancing and Refinancing Program ICMS disputes, based on the provisioned amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$157,650</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, which under the Program, was reduced to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$113,602</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, which will be paid in up to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">60</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> installments adjusted by the SELIC interest rate (Note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">21</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">State of Rio Grande do Sul</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Government of the State of Rio Grande do Sul established, through Decree No. 58,067/2025, a settlement and installment program offered to taxpayers to promote the regularization of debts with discounts (“Amnesty Program”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On April 15, 2025, the Company’s Management, based on the opinion of its legal advisors, joined the Amnesty Program for a process related to ICMS, which met the legal requirements, based on the provisioned amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$163,528</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, which under the rules of the Amnesty Program was reduced to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$73,593</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (including legal fees).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The adherence to the Amnesty Program was through the installment modality and allowed the payment of the debt with a </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">70%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> reduction in fines and interest in up to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">18</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> installments adjusted by SELIC (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">21</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">).</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Nature/Degree of Risk </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provisions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,105,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,022,987</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Federal</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">835,180 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">809,765 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">State</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">496,594 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">466,590 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Municipal</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">132,899 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">136,995 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">FUST</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">640,398 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">609,637 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Possible losses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">51,086,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">40,850,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Federal</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,803,304 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,419,439 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">State</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">33,477,423 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25,760,365 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Municipal</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">808,770 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">682,468 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">FUST, FUNTTEL and FISTEL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,996,574 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,987,799 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iad5fb3396d3748d6a98c632f0494e291"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.1.1. Tax provisions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Management, under advice of legal counsel, believes that the following losses present a probable risk of loss for the federal, state, municipal and regulatory (FUST) tax proceedings:</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic05286e5ef654f7ebf5f3e7a6e3b394d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Federal taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and/or its subsidiaries are party to administrative and legal proceedings at the Federal level relating to: (i) claims for the non-ratification of compensation and refund requests formulated; (ii) CIDE on the remittance of funds abroad related to technical and administrative assistance services and similar services, as well as royalties; (iii) FINSOCIAL compensation; (iv) ex-tariff, revocation of the benefit of CAMEX Resolution No. 6, increase in the import tariff from 4% to 28%; and (v) INSS and occupational accident risk (“RAT”).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ia83d334d807e4142ac2cb2e70130d76f"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">State taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and/or its subsidiaries are party to administrative and judicial proceedings at the State level for ICMS, regarding: (i) disallowance credits; (ii) non-taxation of alleged telecommunications services; (iii) tax credit for challenges/disputes over telecommunication services not provided or wrongly charged (Agreement 39/01); (iv) rate differential; (v) leasing of infrastructure for internet services (data); (vi) CIAP credit; (vii) tax substitution; (viii) monthly subscription, not covered by the modulation of effects arising from the STF judgment; and (ix) fine for non-compliance with ancillary obligation.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i84121326aa7c4693b519c1f0da1664ea"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Municipal taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and/or its subsidiaries are party to Municipal tax proceedings, at the judicial level, relating to: Services tax (“ISS“) on equipment leasing services, non-core activities and supplementary activities and withholding of ISS on contractors' services.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ie81fa63be2794b148276b210d18f3d74"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">FUST</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and/or its subsidiaries have judicial proceedings related to the non-inclusion of interconnection expenses and industrial exploitation of a dedicated line in the calculation basis of FUST.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ie520999db0544d108e12119d7b7dd10c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.1.2. Possible losses – tax contingencies</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Management, under advice of legal counsel, believes that the risk of loss for the following federal, state, municipal and regulatory (FUST, FUNTTEL and FISTEL) is possible:</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i4be9cd4b4ada47b9a20611ca0f41b7df"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Federal taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and/or its subsidiaries are party to administrative and judicial proceedings, at the Federal level, which are awaiting decision at different court levels.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The more significant proceedings are: (i) contested non approval of requests for compensation submitted by the Company; (ii) INSS (a) SAT, social security amounts owed to third parties (INCRA and SEBRAE); (b) meals for employees, withholding of 11% (assignment of workforce); and (c) Stock Options – requirement of social security contributions on amounts paid to employees under the stock option plan; (iii) deduction of COFINS on swap operation losses; (iv) PIS and COFINS: (a) accrual basis versus cash basis; (b) levies on value-added services; and (c) monthly subscription services; (v) IPI levied on shipment of fixed access units from the Company's establishment; (vi) Financial transaction tax (IOF) – on loan transactions, intercompany loans and credit transactions; (vii) IRRF on capital gain on the sale of the GVT Group to the Company, (viii) exclusion of ICMS from the PIS and COFINS calculation base; and (ix) disallowance of PIS and COFINS credits.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i7338a68bb6f64050b2902b318c51cf73"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">State taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and/or its subsidiaries are party to administrative and judicial proceedings, at the State level, related to ICMS, which are awaiting decision at different court levels: (i) rental of movable property; (ii) reversal of previously unused credits; (iii) service provided outside the State of São Paulo paid to the State of São Paulo; (iv) co-billing; (v) tax substitution with a fictitious tax base (tax guideline); (vi) use of credits on acquisition of electric power; (vii) secondary activities, value added and supplementary services; (viii) tax credits related to claims/challenges regarding telecommunications services not provided or mistakenly charged (Agreement 39/01); (ix) deferred collection of interconnection (“DETRAF“ – Traffic and Service Provision Document); (x) credits derived from tax benefits granted by other states; (xi) disallowance of tax incentives related to cultural projects; (xii) transfers of assets among business units owned by the Company; (xiii) communications service tax credits used in provision of services of the same nature; (xiv) card donation for prepaid service activation; (xv) reversal of credit from return and free lease in connection with assignment of networks (used by the Company itself and exemption of public bodies); (xvi) CDR/DETRAF fine; (xvii) own consumption; (xviii) exemption of public bodies; (xix) discounts granted; (xx) monthly subscription with discussion about minutes allowance; and (xxi) fine for non-compliance with an accessory obligation.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="if73ed2af320c4be286e009f0ece7c91e"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Municipal taxes</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and/or its subsidiaries are party to administrative and judicial proceedings, at the Municipal level, which are awaiting decision at different court levels. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The more significant proceedings are: (i) ISS on: (a) non-core activity, value-added and supplementary services; (b) withholding at source; (c) call identification and mobile phone licensing services; (d) full-time services, provision, returns and cancelled tax receipts; (e) data processing and antivirus; (f) charge for use of mobile network and lease of infrastructure; (g) advertising services; and (h) services provided by third parties; (ii) IPTU; (iii) land use tax; and (iv) various municipal charges.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i384b306a4fb44c4cb1acf89b7881eb01"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">FUST, FUNTTEL and FISTEL</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i73a7e932b86d4257b83919827bef6e81"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Universal Telecommunications Services Fund (“FUST“)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Writs of mandamus were filed seeking the right to exclude revenues from interconnection and Industrial Use of Dedicated Line (“EILD“) in the FUST tax base, according to Abridgment No. 7 of December 15, 2005, as it does not comply with the provisions contained in the sole paragraph of Article 6 of Law No. 9,998/2000, which are awaiting a decision from Higher Courts.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Various administrative and judicial charges by ANATEL in administrative scope for the constitution of the tax credit related to interconnection, EILD and other revenues that do not originate from the provision of telecommunication services.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025, the consolidated amount totaled </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$6,166,037</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$5,813,657</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> on December 31, 2024).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i71e7fe5c64ab4047b459b176177042df"></span><span style="background-color:#ffffff;color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Fund for Technological Development of Telecommunications (“FUNTTEL“)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Proceedings have been filed for the right not to include interconnection revenues and any others arising from the use of resources that are party of the networks in the FUNTTEL calculation basis, as determined by Law 10,052/2000 and Decree No. 3,737/2001, thus avoiding improper application of Article 4, paragraph 5, of Resolution 95/2013.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">There are several notifications of charges from the Ministry of Communications in administrative actions for constitution of the tax credit related to the interconnection, network resources and other revenues that do not originate from the provision of telecommunication services.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, the consolidated amount totaled </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$2,344,915</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (R$2,085,332 on December 31, 2024).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="icede214ca1cf4d1f890a334c9cca3463"></span><span style="background-color:#ffffff;color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Telecommunications Inspection Fund (“FISTEL“)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">There are judicial actions for the collection of TFI on: (i) extensions of the term of validity of the licenses for use of telephone exchanges associated with the operation of the fixed switched telephone service; and (ii) extensions of the period of validity of the right to use radiofrequency associated with the operation of the telephone service personal mobile service.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, the consolidated amount totaled </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$2,485,622</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (R$2,088,810 on December 31, 2024).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i7c320e8fddfc4d28b6c591da3dcd2120"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.2. Regulatory provision and contingencies</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%;text-decoration:underline">Regulatory Amnesty - Approval by the Attorney General's Office ("AGU")</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Federal Attorney General's Office ("PGF") published Notice of Transaction by Adhesion No. 1/2024/PGF/AGU, supported by Law No. 14,973, of September 16, 2024, and by Normative Ordinance PGF No. 150, disclosing the possibility of extraordinary transaction of active debts with federal public agencies and foundations, which includes Regulatory Agencies.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 30, 2024, the Company's Management, based on the opinion of its legal advisors, submitted a request to adhere to the extraordinary transaction, the discount for which was approximately </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">55%</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The total amount was subject to fees for the PGF.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's application for membership was granted on February 12, 2025, and the transaction will be completed upon payment of the corresponding Federal Collection Guides.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Nature/Degree of Risk </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,073,962 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,151,095 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Possible losses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,237,934 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,066,637 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i17cdaac717574524858b7e17b1ef6fe3"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.2.1. Regulatory provisions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Management, under advice of legal counsel, believes the likelihood of loss of the following regulatory proceedings is probable, described below:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company is a party to administrative proceedings initiated mainly by ANATEL, which were initiated on the grounds of alleged non-compliance with obligations established in sectoral regulations, as well as in legal proceedings that discuss, in the vast majority, sanctions applied by ANATEL at the administrative level. The main themes of these processes are:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Burden:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Specifically in relation to the payment of burden applied to the Personal Mobile Service - SMP (SMP burden), there is a dispute that discusses which revenues should be considered in the payment of amounts due for the renewal of radio frequencies. On this subject, the Company, together with its legal advisors, assesses that there is a prognosis of probable loss in the SMP burden regarding data revenue, due to the existence of unfavorable decisions both at ANATEL in 2021 and in court, with an unlikely prospect of review, as well as the fact that the Company decided to prospectively collect such amounts in favor of ANATEL, starting in 2022.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">General User Rights (“DGU”):</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> The Company and/or its subsidiaries maintain administrative and judicial discussions regarding the rights of users of telecommunications services, with regard to matters related to the General Regulation of Consumer Rights of Telecommunications Services (“RGC”), approved by Resolution No. 632/2014, especially regarding the provision of services, collection of amounts, disputes, reimbursement, among others.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Quality:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> The Company and/or its subsidiaries maintain administrative and judicial discussions regarding telecommunications services arising from STFC, SMP, SeAC and SCM concessions, regarding compliance with the indicators that measure the quality of these services nationwide, based on the Telecommunications Services Quality Regulation (“RQUAL”), approved by Resolution No. 717/2019.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Relationship between Providers:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> The Company and/or its subsidiaries maintain administrative and legal discussions affecting the regulatory relationship with other telecommunications service providers regarding interconnection, EILD, and the supply of other wholesale products.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The amounts consolidated in the topics highlighted above totaled R$989,545 and R$953,080 on </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2024</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Other cases:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">The Company and/or its subsidiaries are engaged in administrative and judicial discussions regarding other matters, such as service interruptions, various regulatory obligations, Public Civil Actions, among others.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">On October 1, 2024, the Company became aware of the establishment of a Monitoring and Control Procedure ("PAC") for Reimbursement to monitor compliance with the obligation to repair consumers identified in a Procedure for Determining Non-Compliance with Obligations ("PADO") that is in progress.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The amounts consolidated in the topics highlighted above totaled R$84,417 and R$198,015 on </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2024</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i53bf6f82ed1f4a4baa0f7f5af9ed9d7a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.2.2. Possible losses – regulatory contingencies</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Management, under advice of legal counsel, believes the likelihood of loss of the following regulatory proceedings is possible, these being some of the relevant cases in this portfolio:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">Dispute regarding revenues that should be included in the calculation of the amount of the burden due due to the extension of radio frequencies associated with SMP (except for SMP data revenues, as reported in item c.1 of this note). In ANATEL's view, the calculation of the burden should consider the application of the percentage of 2% on all economic profits resulting from the provision of the SMP service. In the Company's view, however, revenues that are not part of the SMP service plans, such as interconnection, revenues earned in the 15th year of the licenses' validity and others, should not be considered in the calculation of the burden. As a result of this divergence of understanding, the Company filed administrative claims and lawsuits to challenge ANATEL's burden charges. In July 2024, ANATEL's Board of Directors ruled on the PAC regarding the calculation of the burden for the 2016 biennium, related to the extension of the radio frequency associated with the SMP, the result of which was favorable to the Company, as it decided to include the terms with lesser scope in the calculation methodology, resulting in a reduction in amounts. Other proceedings may be impacted by this decision, with pending recalculation by ANATEL. It is estimated that with a possible loss prognosis of the SMP burden, the amounts will be approximately R$1,182,102 and R$1,024,955 on </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2024</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively. </span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">The Company's legal action seeks to annul the decision of CADE (Administrative Council for Economic Defense), which found that the operators (Claro, Oi Móvel, and the Company) engaged in anti-competitive conduct by forming the Rede Correios Consortium to compete in electronic auction no. 144/2015, conducted by the Brazilian Post and Telegraph Company; as well as alleged price discrimination by the Company in relation to services offered to BT Brasil Serviços de Telecomunicações Ltda (“BT”), imposing a fine of R$28,394, whose updated amounts were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$43,260</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and R$38,109 on December 31, 2025 and 2024, respectively. This action aims to seek the annulment of said sanction, based especially on (i) the absence of illegality in the formation of a consortium to participate in a public bidding process; (ii) the absence of typicality and the impossibility of sanctioning by analogy; (iii) absence of clear criteria for calculating the sanction and lack of reasonableness. The case is in the first instance awaiting judgment.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">The Administrative Disciplinary Proceeding (PADO) concerning coverage targets, which included a fine of R$127,741 (updated amounts of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$184,486</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and R$167,658 as of December 31, 2025 and 2024, respectively), could be converted into an obligation to act. This obligation consists of an alternative means of fulfilling the sanction to the fine, requiring investment in the installation of 4G radio base stations in 188 locations lacking this technology. The installation must occur within two and a half years, with maintenance costs equivalent to one year. The installation cannot result from RAN sharing agreements, swaps, network rentals, industrial exploitation contracts, or other contractual means. After acceptance and confirmation of approval by ANATEL, compliance within the determined timeframe will be monitored.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">On October 1, 2024, the Company became aware of the initiation of a Monitoring and Control Procedure ("PAC") for Reimbursement to monitor compliance with the obligation to compensate consumers identified in a Non-Compliance Investigation Procedure ("PADO") that is in progress, whose updated values were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$40,524</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and R$35,968 as of December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The amounts consolidated in the topics highlighted above totaled R$1,450,372 and R$1,266,690 on </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2024</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In addition to the specific cases above, the Company maintains administrative proceedings instituted mainly by ANATEL (other agents, including other operators, also have claims against the Company) based on alleged non-compliance with obligations established in the sectoral regulations, as well as ordinary legal proceedings and writs of mandamus that discuss, mainly, sanctions applied by ANATEL in the administrative sphere, mainly in relation to the same topics described in note 19.c.1., namely: General User Rights (“DGU”); Quality and Relationship between Providers. The consolidated amounts involved totaled R$1,315,968 and R$1,230,427 on </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2024</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Other cases:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">The Company and/or its subsidiaries are involved in administrative and legal discussions regarding other matters, such as coverage targets, service interruptions, various regulatory obligations, technical irregularities, payment of public prices for the acquisition of radio frequencies, compensation for the vacancy of frequency bands previously granted to the MMDS, Public Civil Actions, among others.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">The Company is a party to legal proceedings that discuss the nullity of contractual clauses and obligations to do and not to do linked to the suspension of services, non-increase of tariffs, repairs and maintenance of poles, and which do not involve a specific financial value, considering that, at the current procedural stage in which they are found, they are inestimable. These proceedings are still awaiting judgment in the respective courts.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The amounts consolidated in the matters highlighted above totaled R$471,594 and R$569,520 on </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2024</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5c42007935904e24aaf2f92e5b24cb60"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.3. Civil provision and contingencies</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Nature/Degree of Risk </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,434,665 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,411,141 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Possible losses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,815,801 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,000,926 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ibbab5cc55f0542159f04adc05d22ad85"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.3.1. Civil provisions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Management, under advice of legal counsel, believes that the following civil proceedings will result in probable losses:</span></div><div style="margin-bottom:6pt;padding-left:14.2pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">The Company is a party to proceedings involving rights to the supplementary amounts from shares calculated on community telepho</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">ny plants and network expansion plans since 1996 (supplement of share proceedings). These proceedings are at different stages: lower courts, court of justice and high court of justice. On </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025 and 2024</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the provision was </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$133,322</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and R$152,109, respectively.</span></div><div style="margin-bottom:6pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:9.2pt">The Company and/or its subsidiaries are party to various civil proceedings of an to individual consumer level, relating to the non-provision of services and/or products sold. On </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025 and 2024</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the provision was </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$250,015</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and R$293,571, respectively.</span></div><div style="margin-bottom:10pt;padding-left:14.2pt;text-align:justify;text-indent:-14.2pt"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:9.2pt">The Company and/or its subsidiaries are party to various civil proceedings of a collective consumerist and non-consumer nature at administrative and judicial levels, all arising in the ordinary course of business. On </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025 and 2024</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the provision was </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$1,051,328</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and R$965,461, respectively.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="idd7265408c8a4568b22bc57a2a53cf81"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.3.2. Possible losses – civil contingencies</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Management, under advice of legal counsel, believes that the risk of losses is possible for the following civil proceedings:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">The Company and its subsidiaries are party to other civil claims, at several levels, related to service rendering rights. Such claims have been filed by individual consumers, civil associations representing consumer rights of consumers or by the Consumer Protection (“PROCON“), as well as by the Federal and State Public Prosecutor's Office. The Company is also party to other claims of several types related to the ordinary course of business.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">Intellectual Property: Lune Projetos Especiais Telecomunicação Comércio e Ind. Ltda. (“Lune“), a Brazilian company, filed lawsuits on November 20, 2001, against 23 wireless carriers claiming to own the patent for “Bina“, a caller ID. The purpose of the lawsuit was to interrupt provision of such service by carriers and to seek indemnification equivalent to the amount paid by consumers for using the service. </span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">An unfavorable decision was handed down determining that the Company should refrain from selling mobile phones with the Bina ID service, subject to a daily fine of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$10,000.00</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (Ten thousand Reais) in the event of non-compliance. Furthermore, according to that decision, the Company must pay indemnification for royalties, to be calculated on settlement. Motions for Clarification were proposed by all parties and Lune's motions for clarification were accepted since an injunctive relief in this stage of the proceedings was deemed applicable. A bill of review appeal was filed in view of the current decision which granted a stay of execution suspending the unfavorable decision until final judgment. A bill of review was filed in view of the sentence handed down on June 30, 2016, by the 4th Chamber of the Court of Justice of the Federal District, in order to annul the lower court sentence and remit the proceedings back to the lower court for a new examination. The expertise was carried out and then the claims were dismissed. The parties filed an appeal. On February 1, 2023, the Court of Justice of the Federal District and Territories (“TJDFT”) judged the appeals filed and, unanimously, dismissed them, upholding the sentence of inadmissibility. Subsequently, a Special Appeal was filed by Lune, which was not heard by the Superior Court of Justice. An internal appeal was filed by Lune, which has not yet been judged. Management is unable to reasonably estimate a liability with respect to this claim currently.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">The Company, together with other operators providing telecommunications services, is a defendant in lawsuits challenging the practice adopted by operators of imposing a limited period for the use of prepaid minutes. That is, the claimant argues that the minutes in the prepaid package should not expire after a specific period, and should be available for use by the consumer at any time. With the creation of the 6th Regional Federal Court (TRF), the public civil action that originally proceeded in Uberlândia/MG was transferred to the new TRF, which denied the mandatory appeal, upholding the dismissal of the claims filed by the Federal Prosecutor’s Office (MPF), and the decision of the 6th Regional Federal Court has already become final. Regarding the public civil action, which originally proceeded in Belém/PA, the Federal Public Prosecutor's Office itself, the plaintiff in the action, recently expressed its agreement with the Company's request for the dismissal of the action due to res judicata formed in a previous collective action with an identical object, which was recognized by the court. The Company is monitoring the certification of the final judgment in this action. With respect to the public civil action filed by the OAB/SP (São Paulo Bar Association) against the Federal Government, ANATEL (National Telecommunications Agency), and operators, a judgment dismissing the action has been issued. The OAB/SP may still appeal.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i49849a2e57d94d8c98c14e5cea6dd4d0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">20.c.4. Labor provisions and contingencies</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Nature/Degree of Risk </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provision</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">978,552 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">935,541 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Possible losses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,151,825 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,346,257 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The labor provision and contingencies involve several labor claims of former employees and former outsourced employees (those claiming subsidiary obligor or joint liability), which claim, among others: differences in overtime pay, variable remuneration, salary parity, additional unhealthy or dangerous practices.</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="idcf3768d0eda4cc5af940d6f1b57810f"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">20.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, when it is probable that economic benefits are required to settle the obligation and a reliable estimate of the value of the obligation can be made. Provision is restated at the balance sheet date considering the likely amount of loss and the nature of each provision.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Provision amounts for contingencies are presented at their gross amount, less the corresponding judicial deposits, and are classified as provision for labor, tax, civil, and regulatory contingencies.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Judicial deposits are classified as assets given that the conditions required for their net presentation with provision do not exist.</span></div>The Company also discloses the contingencies in circumstances where management concludes (i) no loss is probable or reasonably estimable, but it is reasonably possible that a loss may be incurred; or (ii) in case of income tax pending litigations, it is probable that the taxation authority will accept the uncertain tax treatment. <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.712%"><tr><td style="width:1.0%"></td><td style="width:23.251%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.842%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.547%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Provision for contingencies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Tax(1)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Regulatory(1)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Civil</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Labor</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Contingent liabilities (PPA)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Provision for fines for canceling lease agreements</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Provision for asset decommissioning</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Amounts to be refunded to customers</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,753,323</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,760,866</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,226,995</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">693,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,002,901</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">40,993</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">407,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">96,601</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,982,637</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Additions (reversal), net (Note 27.)</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">40,063 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(377,510)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">251,429 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">420,471 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(12,517)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(10,798)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(5,083)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">306,055 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Other additions (reversal)(1)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(489,082)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(410)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">14,929 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">9,642 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(464,921)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Write-offs due to payment</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(70,922)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(16,299)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(340,327)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(423,720)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(4,119)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(5,938)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(861,325)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">55,001 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">31,669 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">8,964 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">95,634 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Interest accruals (Note 28.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(265,396)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(215,962)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">273,044 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">213,409 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">76,201 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">409 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">81,705 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,022,987</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,151,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,411,141</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">935,541</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,075,139</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">41,005</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">412,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">90,663</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,139,785</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Additions (reversal), net (Note 27)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">106,581 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">16,042 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">257,986 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">377,994 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(26,740)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">3,296 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(25,920)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(90,663)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">618,576 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Other additions (reversal)(1)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(75,119)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(172,320)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">10,002 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(237,435)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Write-offs due to payment</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(62,457)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(10,162)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(392,614)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(519,069)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(1,544)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(2,351)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(988,197)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(38,123)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(24,795)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">(62,918)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – Samauma (Note 1.c.1)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">4,784 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">573 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,462 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">7,819 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,528 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">24,065 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">25,593 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Business combination – Cyber (Note 1.c.6)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,663 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">158 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,821 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Net interest accruals (Note 28.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">144,755 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">89,307 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">158,152 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">206,620 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">113,253 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">14,228 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">726,315 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,105,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,073,962</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,434,665</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">978,552</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,186,635</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">41,950</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">410,524</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,231,359</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2.5pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">160,947 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">195,063 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">573,679 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">701,300 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">5,075 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">41,005 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">3,265 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">90,663 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,770,997 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,862,040 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">956,032 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">837,462 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">234,241 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,070,064 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">408,949 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">5,368,788 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,022,987</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,151,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,411,141</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">935,541</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,075,139</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">41,005</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">412,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">90,663</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,139,785</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">89,274 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">55,651 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">749,193 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">662,626 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">8,166 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">41,950 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">596 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,607,456 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">2,015,797 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,018,311 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">685,472 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">315,926 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">1,178,469 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">409,928 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%">5,623,903 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">2,105,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,073,962</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,434,665</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">978,552</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">1,186,635</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">41,950</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">410,524</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:700;line-height:120%">7,231,359</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In 2025 and 2024, relevant events occurred in the movements of tax and regulatory provisions, as follows: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;text-decoration:underline">in 2025:</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> (i) tax: due to the Company's adherence to tax amnesty programs in several states of the Federation with gains from the reversal of operating expenses for contingency provisions of R$25,638 (note 27), gains from the reversal of financial expenses for monetary updating of contingency provisions of R$65,990 (note 28), and assumption of debt of R$75,119 (note 21)..; and (ii) regulatory: due to adherence to the Desenrola program.</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;text-decoration:underline"> In 2024</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">, relevant events occurred in the movements of provisions, namely: (i) Tax: write-off of R$885,471 due to the Company's adherence to tax amnesty programs in the States of SP and PR, with gains from the reversal of operating expenses of provision for contingencies of R$26,546 (note 27.), gains from the reversal of financial expenses of monetary updating of provisions for contingencies of R$374,271 (Note 28.) and assumption of debt of R$484,654 (Note 21.); and (ii) Regulatory: write-off of R$792,378 as a result of the Commitment Term Related to the Self-Composition Negotiations for Adapting the STFC Concession Contracts to Authorization Instruments, with gains from the reversal of operating expenses for contingency provisions </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">of R$386,392 (Note 27.) and gains from the reversal of financial expenses for monetary updating of contingency provisions of R$405,986 (Note 28.).</span></div> 2753323000 1760866000 1226995000 693712000 1002901000 40993000 407246000 96601000 7982637000 40063000 -377510000 251429000 420471000 -12517000 -10798000 -5083000 0 306055000 -489082000 0 0 0 -410000 14929000 9642000 0 -464921000 -70922000 -16299000 -340327000 -423720000 0 -4119000 0 -5938000 -861325000 55001000 0 0 31669000 8964000 0 0 0 95634000 -265396000 -215962000 273044000 213409000 76201000 0 409000 0 81705000 2022987000 1151095000 1411141000 935541000 1075139000 41005000 412214000 90663000 7139785000 106581000 16042000 257986000 377994000 -26740000 3296000 -25920000 -90663000 618576000 -75119000 -172320000 0 2000 0 0 10002000 0 -237435000 -62457000 -10162000 -392614000 -519069000 -1544000 -2351000 0 0 -988197000 38123000 0 0 24795000 0 0 0 0 62918000 4784000 0 0 573000 2462000 0 0 0 7819000 0 0 0 1528000 24065000 0 0 0 25593000 1663000 0 0 158000 0 0 0 0 1821000 144755000 89307000 158152000 206620000 113253000 0 14228000 0 726315000 2105071000 1073962000 1434665000 978552000 1186635000 41950000 410524000 0 7231359000 160947000 195063000 573679000 701300000 5075000 41005000 3265000 90663000 1770997000 1862040000 956032000 837462000 234241000 1070064000 0 408949000 0 5368788000 2022987000 1151095000 1411141000 935541000 1075139000 41005000 412214000 90663000 7139785000 89274000 55651000 749193000 662626000 8166000 41950000 596000 0 1607456000 2015797000 1018311000 685472000 315926000 1178469000 0 409928000 0 5623903000 2105071000 1073962000 1434665000 978552000 1186635000 41950000 410524000 0 7231359000 25638000 65990000 75119000 885471000 26546000 374271000 484654000 792378000 386392000 405986000 1 0.50 727821000 371052000 60 0.70 157650000 113602000 60 163528000 73593000 0.70 18 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Nature/Degree of Risk </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provisions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,105,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,022,987</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Federal</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">835,180 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">809,765 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">State</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">496,594 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">466,590 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Municipal</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">132,899 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">136,995 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">FUST</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">640,398 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">609,637 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Possible losses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">51,086,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">40,850,071</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Federal</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,803,304 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,419,439 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">State</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">33,477,423 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25,760,365 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Municipal</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">808,770 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">682,468 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">FUST, FUNTTEL and FISTEL</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,996,574 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,987,799 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 2105071000 2022987000 835180000 809765000 496594000 466590000 132899000 136995000 640398000 609637000 51086071000 40850071000 5803304000 4419439000 33477423000 25760365000 808770000 682468000 10996574000 9987799000 0.04 0.28 0.11 6166037000 5813657000 2344915000 2085332000 2485622000 2088810000 0.55 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Nature/Degree of Risk </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,073,962 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,151,095 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Possible losses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,237,934 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,066,637 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1073962000 1151095000 3237934000 3066637000 989545000 953080000 84417000 198015000 1182102000 1024955000 28394000 43260000 38109000 127741000 184486000 167658000 40524000 35968000 1450372000 1266690000 1315968000 1230427000 471594000 569520000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Nature/Degree of Risk </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,434,665 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,411,141 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Possible losses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,815,801 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,000,926 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1434665000 1411141000 1815801000 2000926000 133322000 152109000 250015000 293571000 1051328000 965461000 10000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Nature/Degree of Risk </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provision</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">978,552 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">935,541 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Possible losses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,151,825 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,346,257 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 978552000 935541000 1151825000 1346257000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i72d5692d3a614d2e907085dcd5b2fd67"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21. LOANS AND FINANCING, DEBENTURES, LEASES AND OTHER CREDITORS</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="if6e38085f7434d038a2a72dd70e10a23"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are financial liabilities measured initially and recognized by fair value, net of costs incurred to obtain them and subsequently measured by amortized cost (plus pro-rata charges and interest), considering the effective interest rate of each operation, or by fair value through profit or loss.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Borrowing costs directly related to the acquisition, construction or production of an asset that necessarily requires more than 18 months to be completed for use or sale purposes are capitalized as part of the cost of the corresponding asset. The Company did not capitalize borrowing and financing costs and debentures due to the absence of qualifying assets.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i92a9abb3d71a40a696918050eba2aed0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Leases</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On the lease start date, the Company and its subsidiaries recognize lease liabilities measured at the present value of lease payments to be made during the lease term. Lease payments substantially include fixed payments less any lease incentives receivable, variable lease payments that depend on an index or rate, and amounts expected to be paid under residual value guarantees. Lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and its subsidiaries and payments of fines for termination of the lease, for termination of the lease agreement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When calculating the present value of lease payments, the Company and its subsidiaries use their nominal incremental borrowing rate on the start date because the interest rate implicit in the lease is not easily determinable. After the commencement date, the amount of the lease liability is increased to reflect accrued interest and reduced for lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in lease payments (for example, changes in future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the valuation of an option to call the underlying asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The present value of lease agreements is measured by discounting future fixed payment flows, which do not include projected inflation, at market interest rates, estimated using the Company's intrinsic risk spread.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The discount yield curves used are constructed based on observable data. Market interest rates were extracted from B3, and the Company's risk spread is estimated from debt securities issued by companies with comparable risk. The final discount curve reflects the Company's incremental loan interest rate.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i0bf272f42f0b415eba36ca0809c523f0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.b. Critical estimates and judgments – Leases</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Determining the lease term of contracts that have renewal or termination option clauses. The Company and its subsidiaries determine the lease term as the non-cancellable contractual term, together with the periods included in a possible renewal option to the extent that such renewal is assessed as reasonably certain and with periods covered by an option to terminate the contract at to the extent that it is also assessed as reasonably certain. The Company and its subsidiaries have several lease agreements that include renewal and termination options.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries apply judgment when assessing whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. In this assessment, it considers all relevant factors that create an economic incentive to exercise renewal or termination. After the initial measurement, the Company and its subsidiaries reassess the lease term if there is a significant event or change in circumstances that is within their control and will affect their ability to exercise or not exercise the option to renew or terminate (for example, carrying out significant improvements or customizations to the leased asset).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries are not able to readily determine the interest rate implicit in the lease. Accordingly, this assessment requires Management to consider estimates when observable rates are not available or when they need to be adjusted to reflect the terms and conditions of a lease. The Company and its subsidiaries estimate the incremental rate using observable data (such as market interest rates), when available, and considers in this estimate aspects that are specific to the Company and its subsidiaries.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i90c60b70369f4716aef84845b8ce524a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.c. Breakdown</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.693%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current </span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current </span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Leases (c.1)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,883,176</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,549,678</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">15,432,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,520,626</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,725,980</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">15,246,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Debentures (c.2)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">161,453</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,905,512</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,066,965</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,695,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,000,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,695,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Loans and financing (c.3)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">304,235</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,542,627</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,846,862</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">232,118</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,572,592</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,804,710</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5G Licences (c.3.1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,932 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">965,032 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,033,964 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">62,811 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">942,159 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,004,970 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities for the acquisition of a company (c.3.2)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,251 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">234,048 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">276,299 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">26,182 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">207,167 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">233,349 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Tax Refinancing and Amnesty Program (c.3.3)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">158,295 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">247,010 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">405,305 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">130,563 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">313,799 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">444,362 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial institutions (c.3.4)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,200 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,474 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,674 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,386 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,500 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,886 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other creditors (c.3.5)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">32,557 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">95,063 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">127,620 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,176 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">106,967 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">117,143 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">5,348,864</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,997,817</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">20,346,681</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">6,447,958</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,298,572</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">20,746,530</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">All liabilities shown in the table above were contracted in national currency (R$), except for the loan agreement entered into on September 26, 2024, between the Company's subsidiary - CloudCo Brasil and Telefónica Cybersecurity &amp; Cloud Tech (a Telefónica Group company), which was contracted in foreign currency (euros).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i3733bd97b1a14d469f8e2ce8c9a7739c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.c.1. Leases</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries have contracts classified as leases, referring to: (i) rental of structures (towers and rooftops), resulting from sale and leaseback operations; (ii) rental of sites built in the Built to Suit (“BTS”) for the installation of antennas and other equipment and for transmission; (iii) rental of computer equipment; and (iv) rental of infrastructure and transmission means; offices, shops and commercial properties.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The weighted annual interest rate on lease contracts on </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, is 12.92%, with an average maturity of 4.86 years (12.17% and 5.12 years on December 31, 2024, respectively).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The balances of the lease payables are as follows:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Nominal value payable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,692,942 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,401,868 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Unrealized financial expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,260,088)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,155,262)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Present value payable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,432,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,246,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,883,176 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,520,626 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,549,678 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,725,980 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i7acbbb8e73c54310bf19e7df317fbf52"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.c.2. Debentures</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On July 14, 2022, the Company completed the full payment of the 7th issuance of simple debentures, not convertible into shares, of the unsecured type, in 2 series. </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">3,500,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> debentures were issued with a nominal unit value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$1,000.00</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (one thousand reais), for a total nominal value of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$3,500,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, and the settlement of the respective public offering with restricted efforts was completed, being: (i) 1st series, with a nominal value of R$1,500,000, has a remuneration of CDI + 1.12% p.a. Interest was paid in semi-annual installments starting on January 12, 2023, and the principal at maturity, on July 12, 2025; and (ii) 2nd series, with a face value of R$2,000,000, has a remuneration of CDI + 1.35% p.a. Interest is being paid in semi-annual installments starting on January 12, 2023, and the principal will be paid at maturity on July 12, 2027.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The debentures have a sustainability component (Debentures linked to Environmental, Social and Corporate Governance (“ESG”) performance), which allows them to be classified as “Sustainability-linked”, under the terms required by the International Capital Market Association in the Sustainability-Linked Bond Principles, June 2020 version.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The debentures are subject to early maturity events, standard for this type of offering, as set forth in clause 6.30 of "Early Maturity" of the Issuance Deed ("Deed"), automatically or not, such as: (i) failure by the Company to comply with any pecuniary or non-pecuniary obligation relating to the debentures and/or provided for in the Deed, not remedied within the periods provided for in the Deed; (ii) liquidation, dissolution or extinction of the Company as provided for in the Deed; (iii) spin-off, merger, incorporation, share incorporation or any form of corporate reorganization involving the Company, as provided for in the Deed; (iv) early maturity of any debts and/or financial obligations of the Company within the scope of the financial market and capital market operations, local or international, under the terms provided for in the Deed; (v) to distribute and/or pay dividends, interest on equity, or make any other payments to its shareholders if the Company is in default on any of its pecuniary obligations relating to the debentures; (vi) transfer, by the Company, in any form, assignment or promise of assignment to third parties, of the rights and obligations acquired or assumed in the documents relating to the debentures; (vii) reduction of the Company's share capital, as provided for in article 174, paragraph 3, of the Brazilian Corporations Law, except if for (a) absorption of losses or (b) distribution of resources to the Company's shareholders, up to a limit of 15% of the Company's share capital, individually or in aggregate, on the date of signing the Deed of Issuance; and (viii) disposal of, or creation of liens or encumbrances on, relevant operating assets of the Company, provided that they represent, individually or in aggregate, 15% or more of the Company's total assets, based on the Periodic Financial Statements immediately preceding the date of the event.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Failure to comply with any of the above covenants could result in default under the debenture indenture, which would have a material adverse effect on the Company's financial condition. These clauses are strictly monitored by the Company, aiming to ensure compliance with contractual obligations and guarantee the continuity of the debenture and maintenance of the Company's financial situation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and 2024, all applicable covenants had been complied with by the Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On April 15, 2024, FiBrasil issued a single series of simple debentures in the amount of R$865,000, not convertible into shares, of an unsecured nature, under the terms of the Issuance Deed and article 58 of the Brazilian Corporations Law, and without any additional real or personal guarantee. 865,000 debentures were issued with a nominal unit value of R$1,000.00 (one thousand reais). The total term of the debentures is 10 years, maturing in April 2034, with the nominal value subject to monetary correction by the Broad National Consumer Price Index (“IPCA”). The payments of the updated amounts will be made in 5 consecutive annual installments, starting in April 2030 and ending in April 2034.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The interest on the debentures will accrue at a rate of 7.36% per year, calculated on a basis of 252 business days, on the updated nominal value of the debentures, adjusted for inflation (IPCA). Interest payments will be made semi-annually, in April and October of each year, with the first payment in October 2024 and the last payment on the maturity date of the debentures, in April 2034.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Regarding the covenants, as per the deed of this issuance, the financial indicator Net Debt/EBITDA must be less than or equal to 3.5x.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the applicable covenants have been met by FiBrasil.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i256a98e48c47441d8711788667000037"></span><span style="font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.c.3. Loans and financing</span></div><div style="margin-bottom:5pt;margin-top:10pt"><span id="i8927e81f63ee434c8b1e02f1e40299fd"></span><span style="font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"><span id="ide9a9805feb64502b514ebbea44e0c80"></span></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.c.3.1. 5G licenses</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 3, 2021, Term authorizations were signed with ANATEL from its auctions for the implementation of 5G technology, the Company having presented successful bids. These authorizations are valid for 20 years associated with authorizations for the provision of SMP, renewable successively, for consideration, under the terms of Law No. 9,472/1997.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These amounts are being updated by the reference rate of the Special Settlement and Custody System (“SELIC“) (14.33% and 10.88% in 2025 and 2024, respectively).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These Terms are guaranteed by insurance contracts.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i62ebbb0ba377411e8f2c67e700167222"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.c.3.2. Liabilities for the acquisition of a company</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These refer to liabilities arising from the acquisitions of Vita IT, Vale Saúde Sempre, IPNET, Samauma and CyberCo Brasi, described below, whose balances were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$276,299</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$233,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> as of December 31, 2025 and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Acquisition of Vita IT by TIS</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The total consideration transferred for the acquisition in 2022 of Vita IT by TIS, an indirect subsidiary of the Company, was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$110,220</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, adjusted by the IPCA from the transaction date until the actual payment. Of this amount, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$42,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> was paid in cash upon completion of the transaction and the remainder will be paid in accordance with contractual clauses. The balances on December 31, 2025 and 2024 were R$40,463 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$63,579</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Acquisition of Vale Saúde Sempre by POP</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The total consideration transferred for the acquisition of Vale Saúde Sempre by POP in 2023, including price adjustments agreed between the parties, was R$62,033, updated by the variation in the DI rate between the transaction date and the respective payment. Of this amount, R$37,029 was paid in cash upon completion of the transaction, and the remainder is being paid according to contractual clauses. The balances as of December 31, 2025 and 2024 were R$4,090 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$3,578</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Acquisition of IPNET by CloudCo</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The total consideration transferred for the acquisition of IPNET by CloudCo Brasil in 2024, including the price adjustments agreed between the parties, was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$223,799</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, updated by the variation in the IPCA/SELIC rate that occurred between the date of the transaction and the respective payment. Of this amount, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$60,007 </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">was paid in cash upon completion of the transaction and th</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">e remainder will be paid in accordance with contractual clauses. The balance on December 31, 2025 and 2024 was R$170,626</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$166,192</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Acquisition of Samauma by Terra </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The total consideration amount for the acquisition of Samauma by Terra Networks in 2025, including the price adjustments agreed upon by the parties, is up to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$66,451</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, subject to adjustment based on the variation of the DI rate between the closing date of the transaction and 10 days prior to the actual payment. Of this amount, R$22,000 was paid upfront at the time of the transaction’s closing, and in August 2025 an installment of R$4,655 was paid. The remaining balance will be paid in accordance with contractual clauses. The outstanding balance as of December 31, 2025, was R$44,629.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Acquisition of CyberCo Brasil by TIS</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The total consideration for the acquisition of CyberCo Brasil by TIS in 2025, including price adjustments agreed between the parties, is up to R$232,000. Of this amount, R$212,000 was paid in cash upon completion of the transaction. The remainder will be paid according to contractual clauses. The balance as of December 31, 2025, was R$16,491.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i11f409202ff54887af7090a4556ed715"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.c.3.3. Tax amnesty program</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As described in note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">20.c)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, during fiscal years 2025 and 2024, the Company participated in Amnesty Programs for ICMS-related processes, financing the remaining balances of these participations as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The balances were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$405,305</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$444,362</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in December 31, 2025 and 2024 , respectively. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">In 2025:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">State of Rio Grande do Sul:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> remaining installment of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$73,593</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, in </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">18</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> installments adjusted by the SELIC rate. The balance as of December 31, 2025 was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$38,522</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">State of Minas Gerais:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> relating to electricity bills totaling R$54,646. To join this installment system, a payment of R$2,732 was made, and the remaining balance of R$51,913 would be paid in monthly installments adjusted by the Selic rate, with the final installment due in February 2026. In June 2025, the Company joined a Refis (tax amnesty program) for this installment plan, with a</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">n initial balance of R$35,320 and a down payment of R$2,943. The balance as of December 31, 2025, was R$16,437.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">In 2024:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">States of São Paulo and Paraná:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> the remaining installment of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$484,654</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> was classified as financing, which will be partially paid off with the offsetting of a judicial deposit (only for the State of São Paulo), and the remainder will be paid in up to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">60</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> installments adjusted by the SELIC rate. The balances as of December 31, 2025 and 2024 were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$350,346</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$444,262</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i8c6f0c2cf604470f82b0e57780354314"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.c.3.4. Financial institutions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These refer to loans from financial institutions resulting from business combinations (IPNET and Samauma), described below, whose balances were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$3,674</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$4,886</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> as of December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">IPNET, a company acquired by CloudCo Brasil in 2024, has a bank loan with Caixa Econômica Federal, with a remuneration of CDI + 2.92% per year. Interest and principal are paid in monthly installments, with the final installment due on July 17, 2026.The balances as of December 31, 2025 and 2024 were R$1,761 and R$4,886, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Samauma, a company acquired by Terra Networks in 2025, has bank loans with financial institutions at fixed rates. The balance as of </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> was R$1,913.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iebaa28cd824f41bf9edfbc992d5e34c5"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.c.3.5. Other creditors</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">They include information on transactions for the subscription of senior shares in the Vivo Money FIDCs, the loan agreement of the subsidiary CloudCo Brasil and Desenrola Program, described below, whose balances on </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">December 31, 2025 and 2024 were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$127,620</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$117,143</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Subscriptions for senior quotas in Vivo Pay FIDCs</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In 2025 and 2024, contributions were made to the Vivo Pay FIDCs through the subscription of senior quotas, totaling R$20,000 and R$38,093 on December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These contributions mature on July 31, 2028, with a return of 100% of the CDI rate, a 252-day term, a spread of 3.75% p.a., and principal amortization starting on August 31, 2025.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The balances were R$78,323 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$68,118</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> on December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Loan agreement between CloudCo Brasil and Telefónica Cybersecurity &amp; Cloud Tech (“TCCT”)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On September 26, 2024, the Company's subsidiary - CloudCo Brasil and TCCT (a Telefónica Group member company), entered into a loan agreement in the amount of €7,394 thousand (equivalent to R$44,991, principal amount), providing CloudCo Brasil with the financial capacity to meet its obligations for the acquisition of IPNET.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The principal amount will be adjusted daily, until the date of effective settlement, by the Euribor 6M rate + 240 bps per year, from the date the principal is made available until the date of its effective payment (“interest”). Interest will be paid semi-annually starting on March 27, 2025 and the principal will be paid on September 27, 2027.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">To mitigate risk exposure, a swap was contracted exchanging the exchange rate risk and fixed interest for CDI + </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">1.795%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> p.a.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The balances were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$49,297</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$49,025<span id="id3a0dbd9a3bb4f10846417d835e55385"></span></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%"> </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">on December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Desenrola Program</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company joined the Desenrola Program in order to renegotiate regulatory debts totaling R$173,796. This balance will be paid in monthly installments, adjusted at a rate of 1.43% per month, with full payment due in the third quarter of 2025.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i7a6516db0f2540f388b659ca7c1b4670"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.d. Repayment schedule</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.281%"><tr><td style="width:1.0%"></td><td style="width:8.596%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.617%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Loans and financing</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Year</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Leases</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Debentures</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">5G Licences</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Liabilities for the acquisition of a company</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Refinancing and Amnesty Program</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial institutions</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other creditors</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,430,426 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,000,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,931 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">69,205 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">102,445 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,474 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">77,931 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,750,412 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2028</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,681,027 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,931 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">36,816 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">102,159 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">17,132 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,906,065 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2029</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,977,772 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,931 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">92,500 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,406 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,181,609 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2030</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,111,681 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">181,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,931 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">35,527 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,397,241 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2031 onwards</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,348,772 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">724,410 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">689,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,762,490 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,549,678</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,905,512</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">965,032</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">234,048</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">247,010</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,474</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">95,063</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,997,817</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i71e945f2200f439fa53b58c9f426c42c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.e. Changes</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:31.945%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.527%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Loans and financing</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Leases</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Debentures</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5G Licences</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial institutions</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Liabilities for the acquisition of a company</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Refinancing and Amnesty Program</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other creditors</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13,596,039</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,721,589</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,300,686</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">88,888</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">30,025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18,737,227</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Income, with effects on cash and cash equivalents</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">83,084 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">83,084 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Income, excluding cash and cash equivalents</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,774,379 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">484,654 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,259,033 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Exchange variation (Note 28.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,598 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,598 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Financial charges (Note 28.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,630,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">417,048 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">54,587 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">73 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">7,458 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">21,443 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,141,361 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,563 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">163,792 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">169,355 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (cancellation of contracts)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(69,121)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(69,121)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (payments), principal</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,081,545)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(331,687)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(750)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(22,927)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(58,130)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,495,039)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (payments), financial charges</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,600,192)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(443,423)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(18,616)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,862)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,605)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(8,323)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,078,021)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other changes</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,947)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,947)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15,246,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,695,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,004,970</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,886</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">233,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">444,362</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">117,143</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20,746,530</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Income, with effects on cash and cash equivalents</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">20,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">20,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Income, excluding cash and cash equivalents</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,700,137 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">129,766 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">166,215 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,996,118 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Exchange variation (Note 28.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">243 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">243 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Financial charges (Note 28.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,703,845 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">431,942 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">97,926 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">648 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">16,300 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">40,489 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">33,902 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,325,052 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Settlement by offsetting judicial deposit (Note 10)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(38,745)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(38,745)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – Samauma (Note 1.c.1)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">12,659 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">44,451 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">57,110 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">82,533 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">904,164 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">986,697 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – CyberCo Brasil (Note 1.c.6)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">16,332 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">16,332 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (cancellation of contracts)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(221,877)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(221,877)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (payments), principal</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,322,031)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,500,000)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(46,437)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(13,746)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(30,509)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(135,711)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(183,590)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,232,024)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (payments), financial charges</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,756,359)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(464,355)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(22,495)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(773)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,624)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(34,856)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(26,293)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,308,755)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15,432,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,066,965</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,033,964</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,674</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">276,299</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">405,305</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">127,620</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20,346,681</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="if6e38085f7434d038a2a72dd70e10a23"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">21.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These are financial liabilities measured initially and recognized by fair value, net of costs incurred to obtain them and subsequently measured by amortized cost (plus pro-rata charges and interest), considering the effective interest rate of each operation, or by fair value through profit or loss.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Borrowing costs directly related to the acquisition, construction or production of an asset that necessarily requires more than 18 months to be completed for use or sale purposes are capitalized as part of the cost of the corresponding asset. The Company did not capitalize borrowing and financing costs and debentures due to the absence of qualifying assets.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i92a9abb3d71a40a696918050eba2aed0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">Leases</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On the lease start date, the Company and its subsidiaries recognize lease liabilities measured at the present value of lease payments to be made during the lease term. Lease payments substantially include fixed payments less any lease incentives receivable, variable lease payments that depend on an index or rate, and amounts expected to be paid under residual value guarantees. Lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and its subsidiaries and payments of fines for termination of the lease, for termination of the lease agreement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When calculating the present value of lease payments, the Company and its subsidiaries use their nominal incremental borrowing rate on the start date because the interest rate implicit in the lease is not easily determinable. After the commencement date, the amount of the lease liability is increased to reflect accrued interest and reduced for lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in lease payments (for example, changes in future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the valuation of an option to call the underlying asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The present value of lease agreements is measured by discounting future fixed payment flows, which do not include projected inflation, at market interest rates, estimated using the Company's intrinsic risk spread.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The discount yield curves used are constructed based on observable data. Market interest rates were extracted from B3, and the Company's risk spread is estimated from debt securities issued by companies with comparable risk. The final discount curve reflects the Company's incremental loan interest rate.</span></div> P18M <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i90c60b70369f4716aef84845b8ce524a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.c. Breakdown</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.693%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current </span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current </span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Leases (c.1)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,883,176</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,549,678</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">15,432,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,520,626</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,725,980</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">15,246,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Debentures (c.2)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">161,453</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,905,512</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,066,965</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,695,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,000,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,695,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Loans and financing (c.3)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">304,235</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,542,627</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,846,862</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">232,118</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,572,592</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,804,710</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5G Licences (c.3.1)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,932 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">965,032 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,033,964 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">62,811 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">942,159 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,004,970 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities for the acquisition of a company (c.3.2)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,251 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">234,048 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">276,299 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">26,182 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">207,167 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">233,349 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Tax Refinancing and Amnesty Program (c.3.3)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">158,295 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">247,010 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">405,305 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">130,563 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">313,799 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">444,362 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial institutions (c.3.4)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,200 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,474 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,674 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,386 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,500 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,886 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other creditors (c.3.5)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">32,557 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">95,063 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">127,620 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,176 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">106,967 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">117,143 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">5,348,864</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,997,817</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">20,346,681</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">6,447,958</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,298,572</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">20,746,530</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">All liabilities shown in the table above were contracted in national currency (R$), except for the loan agreement entered into on September 26, 2024, between the Company's subsidiary - CloudCo Brasil and Telefónica Cybersecurity &amp; Cloud Tech (a Telefónica Group company), which was contracted in foreign currency (euros).</span></div> 4883176000 10549678000 15432854000 4520626000 10725980000 15246606000 161453000 2905512000 3066965000 1695214000 2000000000 3695214000 304235000 1542627000 1846862000 232118000 1572592000 1804710000 68932000 965032000 1033964000 62811000 942159000 1004970000 42251000 234048000 276299000 26182000 207167000 233349000 158295000 247010000 405305000 130563000 313799000 444362000 2200000 1474000 3674000 2386000 2500000 4886000 32557000 95063000 127620000 10176000 106967000 117143000 5348864000 14997817000 20346681000 6447958000 14298572000 20746530000 0.1292 P4Y10M9D 0.1217 P5Y1M13D <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The balances of the lease payables are as follows:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.026%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Nominal value payable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,692,942 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,401,868 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Unrealized financial expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,260,088)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,155,262)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Present value payable</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,432,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,246,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,883,176 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,520,626 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,549,678 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,725,980 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> -20692942000 -20401868000 -5260088000 -5155262000 15432854000 15246606000 4883176000 4520626000 10549678000 10725980000 3500000 1000 3500000000 1500000000 0.0112 2000000000 0.0135 0.15 0.15 865000000 865000 1000 10 5 0.0736 252 P20Y 0.1433 0.1088 276299000 233349000 110220000 42000000 40463000 63579000 62033000 37029000 4090000 3578000 223799000 60007000 170626000 166192000 66451000 10 22000000 4655000 44629000 232000000 212000000 16491000 405305000 444362000 73593000 18 38522000 54646000 2732000 51913000 35320000 2943000 16437000 484654000 60 350346000 444262000 3674000 4886000 0.0292 1761000 4886000 1913000 127620000 117143000 20000000 38093000 1 252 0.0375 78323000 68118000 7394000 44991000 0.01795 49297000 49025000 173796000 0.0143 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i7a6516db0f2540f388b659ca7c1b4670"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">21.d. Repayment schedule</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.281%"><tr><td style="width:1.0%"></td><td style="width:8.596%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.609%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.617%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Loans and financing</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Year</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Leases</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Debentures</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">5G Licences</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Liabilities for the acquisition of a company</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Refinancing and Amnesty Program</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial institutions</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other creditors</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,430,426 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,000,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,931 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">69,205 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">102,445 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,474 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">77,931 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,750,412 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2028</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,681,027 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,931 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">36,816 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">102,159 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">17,132 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,906,065 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2029</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,977,772 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,931 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">92,500 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,406 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,181,609 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2030</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,111,681 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">181,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">68,931 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">35,527 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,397,241 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2031 onwards</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,348,772 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">724,410 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">689,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,762,490 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,549,678</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,905,512</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">965,032</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">234,048</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">247,010</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,474</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">95,063</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,997,817</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 3430426000 2000000000 68931000 69205000 102445000 1474000 77931000 5750412000 2681027000 0 68931000 36816000 102159000 0 17132000 2906065000 1977772000 0 68931000 92500000 42406000 0 0 2181609000 1111681000 181102000 68931000 35527000 0 0 0 1397241000 1348772000 724410000 689308000 0 0 0 0 2762490000 10549678000 2905512000 965032000 234048000 247010000 1474000 95063000 14997817000 <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:31.945%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.514%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.527%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="27" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Loans and financing</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Leases</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Debentures</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5G Licences</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial institutions</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Liabilities for the acquisition of a company</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Refinancing and Amnesty Program</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other creditors</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13,596,039</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,721,589</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,300,686</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">88,888</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">30,025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18,737,227</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Income, with effects on cash and cash equivalents</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">83,084 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">83,084 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Income, excluding cash and cash equivalents</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,774,379 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">484,654 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,259,033 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Exchange variation (Note 28.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,598 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,598 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Financial charges (Note 28.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,630,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">417,048 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">54,587 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">73 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">7,458 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">21,443 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,141,361 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – IPNET (Note 1.c.3.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,563 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">163,792 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">169,355 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (cancellation of contracts)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(69,121)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(69,121)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (payments), principal</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,081,545)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(331,687)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(750)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(22,927)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(58,130)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,495,039)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (payments), financial charges</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,600,192)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(443,423)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(18,616)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,862)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,605)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(8,323)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,078,021)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other changes</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,947)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,947)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15,246,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,695,214</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,004,970</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,886</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">233,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">444,362</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">117,143</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20,746,530</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Income, with effects on cash and cash equivalents</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">20,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">20,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Income, excluding cash and cash equivalents</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,700,137 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">129,766 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">166,215 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,996,118 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Exchange variation (Note 28.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">243 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">243 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Financial charges (Note 28.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,703,845 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">431,942 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">97,926 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">648 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">16,300 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">40,489 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">33,902 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,325,052 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Settlement by offsetting judicial deposit (Note 10)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(38,745)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(38,745)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – Samauma (Note 1.c.1)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">12,659 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">44,451 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">57,110 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – FiBrasil (Note 1.c.2)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">82,533 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">904,164 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">986,697 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business combination – CyberCo Brasil (Note 1.c.6)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">16,332 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">16,332 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (cancellation of contracts)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(221,877)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(221,877)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (payments), principal</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,322,031)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,500,000)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(46,437)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(13,746)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(30,509)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(135,711)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(183,590)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,232,024)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Write-offs (payments), financial charges</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,756,359)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(464,355)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(22,495)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(773)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,624)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(34,856)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(26,293)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,308,755)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15,432,854</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,066,965</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,033,964</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,674</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">276,299</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">405,305</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">127,620</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20,346,681</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 13596039000 3721589000 1300686000 0 88888000 0 30025000 18737227000 0 0 0 0 0 0 83084000 83084000 4774379000 0 0 0 0 484654000 0 5259033000 0 0 0 0 0 0 2598000 2598000 -1630993000 -417048000 -54587000 -73000 -7458000 -21443000 -9759000 -2141361000 0 0 0 5563000 163792000 0 0 169355000 -69121000 0 0 0 0 0 0 -69121000 -3081545000 0 -331687000 -750000 -22927000 -58130000 0 -3495039000 -1600192000 -443423000 -18616000 0 -3862000 -3605000 -8323000 -2078021000 -3947000 0 0 0 0 0 0 -3947000 15246606000 3695214000 1004970000 4886000 233349000 444362000 117143000 20746530000 0 0 0 0 0 0 20000000 20000000 3700137000 0 0 0 0 129766000 166215000 3996118000 0 0 0 0 0 0 243000 243000 -1703845000 -431942000 -97926000 -648000 -16300000 -40489000 -33902000 -2325052000 0 0 0 0 0 38745000 0 38745000 0 0 0 12659000 44451000 0 0 57110000 82533000 904164000 0 0 0 0 0 986697000 0 0 0 0 16332000 0 0 16332000 -221877000 0 0 0 0 0 0 -221877000 -3322031000 -1500000000 -46437000 -13746000 -30509000 -135711000 -183590000 -5232024000 -1756359000 -464355000 -22495000 -773000 -3624000 -34856000 -26293000 -2308755000 15432854000 3066965000 1033964000 3674000 276299000 405305000 127620000 20346681000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i568525964a5344149cb1b1c7a3cb472a"></span><span style="background-color:#ffffff;color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">22. DEFERRED INCOME</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Contractual Liabilities (customers contracts)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,078,029 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,016,935 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of goods and fixed assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,130 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">61,919 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Government grants</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,180 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,714 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other(3)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">167,326 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,478 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total </span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,302,665</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,146,046</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,076,293 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,019,134 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">226,372 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126,912 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to the balance of contractual liabilities of customers, deferred to match performance obligations over time.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes the net balances of the residual values from sale of non-strategic towers and rooftops, transferred to income as the conditions for recognition are met..</span></div><div style="margin-bottom:20pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The consolidated amounts include the resale of software licenses from the indirect subsidiary TIS.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the changes in contractual liabilities (contracts with customers), mainly represented by the sale of prepaid credits.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the beginning of the fiscal year</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,016,935</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">963,407</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions </span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,056,854 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,482,545 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs, net</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(8,995,760)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,429,017)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the end of the year</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,078,029</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,016,935</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the expected terms for the realization of contractual, non-current liabilities.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,011,297 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">46,471 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2028</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,735 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2029</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,325 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2030</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,946 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2031 onwards</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,255 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,078,029</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Contractual Liabilities (customers contracts)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,078,029 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,016,935 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of goods and fixed assets</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,130 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">61,919 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Government grants</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,180 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,714 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other(3)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">167,326 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,478 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total </span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,302,665</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,146,046</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,076,293 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,019,134 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">226,372 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126,912 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to the balance of contractual liabilities of customers, deferred to match performance obligations over time.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes the net balances of the residual values from sale of non-strategic towers and rooftops, transferred to income as the conditions for recognition are met..</span></div><div style="margin-bottom:20pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">The consolidated amounts include the resale of software licenses from the indirect subsidiary TIS.</span></div> 1078029000 1016935000 56130000 61919000 1180000 6714000 167326000 60478000 1302665000 1146046000 1076293000 1019134000 226372000 126912000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the changes in contractual liabilities (contracts with customers), mainly represented by the sale of prepaid credits.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the beginning of the fiscal year</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,016,935</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">963,407</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions </span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,056,854 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,482,545 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs, net</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(8,995,760)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,429,017)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the end of the year</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,078,029</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,016,935</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1016935000 963407000 9056854000 9482545000 -8995760000 -9429017000 1078029000 1016935000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the expected terms for the realization of contractual, non-current liabilities.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,011,297 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">46,471 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2028</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,735 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2029</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,325 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2030</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,946 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2031 onwards</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,255 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,078,029</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1011297000 46471000 4735000 3325000 3946000 8255000 1078029000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i9494d1de0c7d4f09a4b22765a16d47c2"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">23. OTHER LIABILITIES</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reduction of the Company's capital(1)</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">91,093 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reverse stock split and stock split</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">824,723 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Surplus from post-employment benefit plans (Note 31.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">786,546 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">728,559 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Liabilities with ANATEL</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">995,457 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,039,492 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Third-party withholdings</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">229,176 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">218,244 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Liabilities with related parties (Note 29.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">138,628 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">133,928 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Obligations to customers – refund</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">108,166 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126,867 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">106,476 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">74,660 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total </span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,280,265</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,360,471</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,531,414 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">716,984 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,748,851 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,643,487 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to the Company's capital reduction processes (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">24.a</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to the Company's reverse stock split and stock split processes (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">24.a</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes amounts related to the cost of renewing STFC and SMP licenses.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to withholdings on payroll and taxes withheld at source on interest on equity and on the provision of services.</span></div> <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reduction of the Company's capital(1)</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">91,093 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reverse stock split and stock split</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">824,723 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Surplus from post-employment benefit plans (Note 31.)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">786,546 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">728,559 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Liabilities with ANATEL</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">995,457 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,039,492 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Third-party withholdings</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">229,176 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">218,244 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Liabilities with related parties (Note 29.)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">138,628 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">133,928 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Obligations to customers – refund</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">108,166 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126,867 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other liabilities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">106,476 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">74,660 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total </span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,280,265</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,360,471</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,531,414 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">716,984 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,748,851 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,643,487 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to the Company's capital reduction processes (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">24.a</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to the Company's reverse stock split and stock split processes (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">24.a</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">.).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes amounts related to the cost of renewing STFC and SMP licenses.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Refers to withholdings on payroll and taxes withheld at source on interest on equity and on the provision of services.</span></div> 91093000 38721000 824723000 0 786546000 728559000 995457000 1039492000 229176000 218244000 138628000 133928000 108166000 126867000 106476000 74660000 3280265000 2360471000 1531414000 716984000 1748851000 1643487000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i6cab48b6e88d432791b1c679b6a57b6b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">24. EQUITY</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i8c1be52b4b9d42c985082ada83f678b4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">24.a. Capital</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Brazilian Corporation Law No. 6,404, of December 15, 1976 (“Corporation Law”), Article 166, item IV, establishes that capital may be increased by an Extraordinary Shareholders' Meeting Resolution by modifying the Articles of Incorporation, if the authorized capital increase limit has been reached.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The shareholders will have preemptive rights to subscribe for a capital increase, in proportion to their number of shares. By resolution of the Board of Directors, the preemptive right in the issuance of shares, convertible debentures and subscription bonus, whose placement may be made through sale on the Stock Exchange or public subscription, exchange for shares in a public offer for acquisition may be excluded control, under the terms of articles 257 and 263 of the Corporation Law, as well as enjoy tax incentives, under the terms of special legislation, as provided for in article 172 of the Corporation Law.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">24.a.1) Company Capital Reductions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In accordance with and for the purposes of the provisions of article 157, paragraph 4, of the Brazilian Corporations Law, and the provisions of CVM Resolution No. 44, of August 23, 2021, during the fiscal years 2025 and 2024, the Company's Board of Directors approved capital reductions without the cancellation of shares, maintaining unchanged the number of shares and the percentage of shareholder participation in the Company's share capital, with the objective of improving the Company's capital structure, allowing for flexibility in the allocation of its capital, generating a balance between its need for resources and the generation of value for its shareholders, as described below:</span></div><div style="margin-bottom:10pt;padding-left:35.43pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">On January 24, 2024, the Company's Extraordinary General Meeting approved a reduction of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$1,500,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in its share capital, from </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$63,571,416</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$62,071,416</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. After all applicable legal requirements were met, the reduction in share capital became fully effective on April 4, 2024. The Company made the payment of this reduction in share capital, net of withholding income tax, in Brazilian currency, in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$0.90766944153</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> per common share issued by the Company, to the shareholders listed in the Company's records at the end of the day on April 10, 2024.</span></div><div style="margin-bottom:10pt;padding-left:35.43pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt">On December 18, 2024, the Company's Extraordinary General Meeting approved a reduction of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$2,000,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in its share capital, from </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$62,071,416</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$60,071,416</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. After all applicable legal requirements were met, the reduction in share capital became fully effective on February 17, 2025. The Company made a payment of this reduction in share capital net of withholding income tax, in Brazilian currency, in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$1.23337023478</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> per common share issued by the Company, to the shareholders listed in the Company's records at the end of the day on February 27, 2025.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Of the capital reductions described above, as of the closing date of these consolidated financial statements, the Company had already paid </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$3,408,907</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> to the identified shareholders, with the remaining amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$91,093</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> remaining to be available to these shareholders for the statutory limitation period.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 9, 2025, the Company's Board of Directors approved: (i) a proposal, to be considered and deliberated by the shareholders at an Extraordinary General Meeting (EGM), for a capital reduction operation of the Company in the amount of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$4.0</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> billion, without the cancellation of shares and through the restitution of resources to shareholders in Brazilian currency, to be paid in a single installment by July 31, 2026, on a date to be determined in due course by the Company's Board of Directors; and (ii) the convening, at an opportune time, of an EGM to deliberate on the aforementioned capital reduction proposal and the consequent amendment to the Company's Bylaws. If approved at an extraordinary general meeting, the implementation of the proposed capital reduction will be subject to a period of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">60</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> days from the publication of the respective minutes, as provided for in article 174 of the Brazilian Corporations Law.</span></div><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">24.a.2) Reverse stock split and stock split</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On March 13, 2025, the Company informed its shareholders and the market in general that: (i) at the Company's Extraordinary General Meeting held on the same date, the proposal to group all of the Company's common shares was approved, in the proportion of 40 shares for 1 share, and to subsequently split the shares, so that 1 grouped share would correspond to 80 shares, without altering the value of the Company's share capital, but only its total number of shares, with the consequent amendment to its Articles of Association (“Transaction”); (ii) at a meeting of the Company's Statutory Board held on the same date following the Extraordinary General Meeting, it was approved that the procedures for implementing the Transaction would begin on the same date, and the period between March 14, 2025 (inclusive) and April 14, 2025 (inclusive) was defined for shareholders holding common shares of the Company to, if applicable, compose their shareholdings in whole lots in multiples of 40, at their sole and exclusive discretion, in order to ensure ownership of a whole number of shares as a result of the Transaction (“Free Position Adjustment Period”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As approved at the Extraordinary General Meeting, the Transaction did not imply any change in the total number of the Company's securities traded on the American market (American Depositary Receipt - “ADR”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The objective of the Transaction was to provide greater liquidity to the Company's shares and, consequently, improve the price formation process, by increasing the number of shares in circulation effectively traded and adjusting their price. Furthermore, the Operation aimed to: (i) reduce operational and administrative costs arising from the current configuration of the Company's shareholder base; (ii) provide greater efficiency in the management of its shareholder base; (iii) increase the efficiency of the book-entry share registration and custody systems; (iv) improve the provision of information and communication, enhancing service to shareholders; and (v) provide greater efficiency in the distribution of dividends to the Company's shareholders.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Execution of the Transaction</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Transaction was executed on the business day following the end of the Free Position Adjustment Period, i.e., on April 15, 2025, at which time the Company's share capital was divided into </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">3,261,287,392</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> common shares without par value, and shareholders had their shareholdings adjusted. Once the Free Position Adjustment Period ended, shareholders holding fractional shares resulting from the Transaction would be subject to the procedure set out in the item "Remaining Fractional Shares," described below.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">From April 15, 2025, inclusive, the shares began trading on an ex-share consolidation and ex-share split basis.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Remaining Fractional Shares</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">After the end of the Free Position Adjustment Period, fractional shares held by shareholders who did not adjust their position to multiples of 40 shares were grouped into whole numbers and sold at auction, held on the B3 stock exchange in the name of the fractional shareholders (“Auction”). The net proceeds from the sale of these shares were allocated and distributed proportionally among all holders of fractional shares as follows: (i) for shareholders with complete registration data, the amounts were deposited into the current account indicated in the respective shareholder's registration; (ii) for shareholders with shares deposited with the B3 Central Depository, the amounts were credited directly to the Central Depository, which was responsible for transferring them to the respective shareholder through its custodian agent; and (iii) for other unidentified shareholders or those without complete registration data: the amounts are available at the Company, for the legal period, for receipt by the respective holder upon provision of complete registration data.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The funds allocated to investors (residents and non-residents) were subject to income tax on any gains, which were taxed as "net gains," in accordance with current legislation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Transaction (i) was applied to all shareholders of the Company; (ii) did not result in a change in the value of the Company's share capital; (iii) did not modify the rights conferred by the Company's shares to their holders; and (iv) implied a change, in parallel with the completion of the Transaction, in the number of shares that make up each ADR, with 1 ADR now representing 2 ordinary shares issued by the Company, while the total number of ADRs in circulation remained unchanged.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On May 19, 2025, the Company informed its shareholders and the market in general that the aforementioned auction had been held for the sale of 35,633,792 common shares, formed from the aggregation of fractional shares resulting from the reverse stock split of all common shares issued by the Company, in the proportion of 40 shares for 1 share, with subsequent stock splitting, so that 1 grouped share became equivalent to 80 shares, without altering the value of the Company's share capital, but only its total number of shares.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The result of the auction, totaling </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$949,354</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, net of costs and fees, equivalent to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$26.64196300439</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> per common share, was made available to the holders of fractional shares, in the respective proportions, until May 28, 2025. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">From the reverse stock split and stock split described above, the closing date of these consolidated financial statements, the Company had already paid R$124,631 to the identified fractional shareholders, leaving an amount of R$824,723 available to unidentified shareholders or those with incomplete registration data. These values are not subject to monetary adjustment.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Company Capital Structure</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The subscribed and paid-in share capital was R$60,071,416 and R$62,071,416 as of December 31, 2025 and 2024, respectively, represented by shares, all common, book-entry and without par value, distributed as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.152%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.266%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Shareholders</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Number</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Number (Adjusted)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Controlling Group</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,488,480,640</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">77.13</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,488,480,640</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">76.30</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,268,797,680 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">39.33</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,268,797,680 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38.90</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,217,810,000 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37.74</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,217,810,000 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37.34</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,872,960 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.06</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,872,960 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.06</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other shareholders (Free Float)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">707,125,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">21.91</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">764,884,568</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">23.46</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Treasury Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,940,270</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">0.96</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,922,184</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">0.24</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total shares</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,226,546,622</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100.00</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,261,287,392</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100.00</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Treasury Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(30,940,270)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,922,184)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total shares outstanding</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,195,606,352</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,253,365,208</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book value per outstanding share:</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On 12.31.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">R$</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 7pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21.51</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On 12.31.2024 - Adjusted</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">R$</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 7pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21.43</span></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The number of shares and the book value per share outstanding for the comparative period (December 31, 2024), originally presented as 1,626,682,604 and R$42.87, respectively, have been adjusted to reflect retrospective adjustments resulting from share consolidation and stock split processes, as described in Note 24.a.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ib08ff89592c545069c22f66a03813f8d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">24.b. Company's share buyback program</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On February 25, 2025, the Company's Board of Directors, in accordance with article 15, item XV of the Company's Bylaws and CVM Resolution No. 77/2022, approved a new share buyback program for shares issued by the Company, which aims to acquire common shares issued by the Company for maintenance in treasury, subsequent cancellation or sale, without reducing the share capital, in order to increase shareholder value through the efficient application of available cash resources, optimizing the Company's capital allocation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The share buyback will be carried out using resources available in the statutory profit reserve, and the result obtained in the current fiscal year may also be used, pursuant to article 8, § 1, items I and II of CVM Resolution No. 77/2022. As a result of the share consolidation and subsequent stock split of its own shares, effective April 15, 2025, the maximum number of shares that can be acquired under the Company's current share buyback program, approved on February 25, 2025, was automatically adjusted. The maximum amount to be used in the program is R$1.75 billion.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">This program began on February 26, 2025 and will end on February 25, 2026.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Treasury shares are equity instruments that, when repurchased, are recognized at cost and deducted from equity. No gain or loss is recognized in the income statement on the purchase, sale, issuance or cancellation of the Company's own equity instruments. Any difference between the carrying amount and the consideration is recognized in other capital reserves.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In the fiscal year ended December 31, 2025, the Company repurchased </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">57,758,856</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> common shares, already adjusted after the completion of the share consolidation and stock split processes (note 24.a.), totaling R$1,746,480.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At a meeting held on July 24, 2025, the Company's Board of Directors approved the cancellation of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">34,740,770</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> common, book-entry shares with no par value issued by the Company and held in treasury, equivalent to </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">1.07%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> of the share capital, without reducing the value of said capital, which were acquired in the context of the Company's Share Buyback Program. The amount of this share cancellation was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$928,922</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. As a result of the approved share cancellation, the Company's share capital is now divided into </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">3,226,546,622</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> common, book-entry shares with no par value.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the movements of treasury shares, described in items c) and d) of this Note.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.060%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.400%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Number of shares</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Values</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Capital reserves</span></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Income reserves</span></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Capital reserves</span></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Income reserves</span></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2023 (adjusted)</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(194)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(194)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share buybacks (adjusted)</span></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">51,802,800 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">51,802,800 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,299,583)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,299,583)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share cancellations (adjusted)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(43,889,328)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(43,889,328)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,099,584 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,099,584 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2024 (adjusted)</span></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,913,472</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,922,184</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(194)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(199,999)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(200,193)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share buybacks</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">57,758,856 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">57,758,856 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,746,480)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,746,480)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share cancellations</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,122)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(34,739,648)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(34,740,770)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">928,892 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">928,922 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2025</span></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,590</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,932,680</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,940,270</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(164)</span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,017,587)</span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,017,751)</span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i46b9b4d91e7b4733afea26c991d4b487"></span><span style="background-color:#ffffff;color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">24.c. Capital reserves</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The balances for this item were R$(110,078) and R$63,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> as of December 31, 2025 and 2024, respectively, subdivided into:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Special premium reserve:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Refers to the tax benefit generated by the incorporation of Telefônica Data do Brasil Ltda., which will be capitalized in favor of the controlling shareholders (Telefónica and TLH) after the realization of the tax credit. The balances of this item were R$63,074 on December 31, 2025 and 2024.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Treasury shares:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Refers to the repurchases of common shares, using capital reserves. In 2025, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">1,122</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> treasury shares were cancelled, totaling </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$30</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. The balances of this item were </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$164</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$194</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> on December 31, 2025 and 2024, respectively. </span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Other capital reserves:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> This refers to the effects of capital transactions that occurred in the acquisition, sale, and incorporation of companies by the Company and/or its subsidiaries, and other capital transactions. In </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, the following events occurred: (i) cancellation of 1,122 treasury shares totaling R$30; (ii) capital transaction related to reverse stock split and stock split processes in the amount of (R$4,444) (Note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">23.a.2.</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">); and (iii) Capital transaction in the acquisition of CyberCo Brasil by TIS in the amount of (R$168,729) (Note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">1.c.6</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">). The balances of this item were (</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$172,988</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">) and R$215. on December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i466f6864603a4943b38db5ec8c3b05ed"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">24.d. Income reserves</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The balances for this item were R$8,735,352 and R$7,523,216 as of December 31, 2025 and 2024, respectively, subdivided into:</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Legal reserve:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> A statutory reserve, under corporate law, formed by appropriating 5% of the net profit for the year, until it reaches 20% of the paid-in share capital. The legal reserve may only be used to increase share capital and to offset accumulated losses.. The balance of this item on December 31, 2025 was </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$4,426,814</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> (</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$4,118,419</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> December 31, 2024).</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Treasury shares:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> This refers to the balance of 30,940,270 common shares resulting from repurchases and cancellations that occurred in </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2025</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">2024</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, through the use of part of the reserve for shareholder remuneration and investments in 2025 and the result of the 2024 fiscal year. The balances of this item were R$1,017,587 and R$199,999 on December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Tax incentives:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> This refers to the tax benefits that the Company possesses related to: (i) ICMS (State VAT) in the states of Minas Gerais and Espírito Santo, referring to credits granted by the competent bodies of said states, linked to investments in the installation of SMP (Mobile Personal Service) support equipment, in full operation and functioning, in accordance with the regulations in force, which ensure that the locations listed in the tender are included in the SMP coverage area; and (ii) a 75% reduction in IRPJ (Corporate Income Tax) levied on profits earned in the states of the North and Northeast regions of the country (SUDAM and SUDENE areas). The balances of this item were R$434,492 and R$426,933 on December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:6pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:13pt;text-decoration:underline">Reserve for remuneration to shareholders and investments:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> A statutory reserve created by the Company pursuant to Article 194 of the Brazilian Corporations Law, to which up to 50% of the net profit for the fiscal year will be allocated, as proposed by Management, provided that the total balance of said reserve does not exceed 20% of the Company's share capital, in order to ensure resources for: (i) repurchase, redemption, reimbursement or amortization of shares issued by the Company itself; (ii) distribution of dividends to shareholders, including interim or special dividends or in the form of interest on equity; and (iii) investments related to the Company's activities. On July 24, 2025, 34,740,770 common, book-entry shares without par value issued by the Company and held in treasury were cancelled, amounting to R$928,922, through the partial use of this reserve. Regarding the remaining amount of net profit available for distribution for the year ended December 31, 2025, in the amount of R$2,642,662, it was proposed to allocate it to this reserve, to be deliberated at the Company's EGM to be held on 2026. The balances of this item were R$4,891,633 and R$3,177,863 on December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i704de8a6b9904ee3870bdf7b0ec07c56"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">24.e. Dividend and interest on equity</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="if683af20a56a4bdfb10c3897ff9a26e0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">24.e.1. Allocation of dividends and interest on equity for the 2025 and 2024</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The amounts of IOE are calculated and presented net of Withholding Income Tax (“IRRF”). Exempt shareholders received the full IOE amount, without withholding income tax at source.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The amount per share, net of interest on equity declared for the fiscal years 2024 and 2025 (as of February 13, 2025, March 13, 2025, and April 1, 2025) has been recalculated and is presented taking into account the effects of the share consolidation and stock split of the Company carried out on April 15, 2025, Note 24.a.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i07bdab523c774610a8ab817c059827f5"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">In 2025</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At meetings of the Company's Board of Directors, interest on equity was declared, in accordance with article 26 of the Company's Bylaws, article 9 of Law No. 9,249/1995 and CVM Resolution No. 143/2022. As provided for in article 26 of the Company's Bylaws, such interest will be attributed to the mandatory dividend for the year ending on December 31, 2025, ad referendum of the Shareholders' AGM to be held in 2026, as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.997%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.422%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.991%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.580%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Dates</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Deliberation</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Credit</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Payment date</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross Amount</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amount per Share, Net</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">02.13.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">02.24.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.02.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">180,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">153,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.04714626133 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">03.13.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">03.24.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.02.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">200,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">170,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.05246778188 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.01.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.11.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">240,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">204,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.06296133934 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">05.12.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">05.22.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">500,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">425,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.13116945695 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">06.12.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">06.23.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">200,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">170,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.05264314492 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">07.14.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">07.25.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">330,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">280,500 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.08715426995 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">08.14.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">08.25.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">250,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">212,500 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.06624319750 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">09.11.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">09.22.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">400,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">340,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.10608541339 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.14.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.27.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">380,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">323,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.10078114272 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11.13.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11.24.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">340,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">289,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.09035622247 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.16.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.29.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 1.87pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">350,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">297,500 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.09309657299 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 1.87pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,370,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,864,500</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i6d990b11bc0f4044a1c0ee2a23621de1"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">In 2024</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At the Annual General Meeting held on April 25, 2025, the administrators' accounts were approved, and the Management Report and Financial Statements, accompanied by the Independent Auditors' Report, the Audit and Control Committee's Opinion, and the Fiscal Council's Opinion, relating to the fiscal year ended December 31, 2024, as well as the proposal for the allocation of the result of said fiscal year 2024, were examined, discussed and voted on.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">During the 2024 fiscal year, the Company allocated interim interest on equity, which was imputed to mandatory dividends, as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.997%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.848%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.560%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.986%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.429%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Dates</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Deliberation</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Credit</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Payment date</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross Amount</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amount per Share, Net</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">03.14.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">03.28.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.17.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">300,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">255,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.07715190253 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.16.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.29.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.17.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">380,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">323,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.09779002985 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">06.14.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">06.26.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.17.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">175,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">148,750 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.04514626499 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">07.15.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">07.26.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">650,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">552,500 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.16814026479 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">08.14.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">08.26.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">400,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">340,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.10376995616 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.12.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.26.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,200,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,020,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.31352151843 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="15" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,105,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,639,250</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i002080bd06eb498f94191965d1a8626a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">24.e.2. Unclaimed dividends and interest on equity</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Pursuant to Article 287, paragraph II, item “a” of Law No. 6404, of December 15, 1976, the dividends and interest on equity unclaimed by shareholders are subject to the statute of limitation 3 years, as from the initial payment date. The Company reverses the amounts of unclaimed dividends and IOE to equity once the statute of limitation occurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the years ended December 31, 2025 and 2024, the Company reversed unclaimed dividends and interest on equity amounting to R$150,553 and R$126,977, respectively, which were included in calculations for decisions on Company dividends.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ie985420b5ee14989ab534e4af3b1cd0b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">24.e.3. Remuneration to shareholders</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The dividends are calculated in accordance with the Company Articles of Incorporation and the Corporation Law. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The table below shows the calculation of dividends and interest on equity for 2025 and 2024:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.578%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.275%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net income for the year</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,167,906 </span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,547,948 </span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(-) Allocation to legal reserve</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(308,395)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(277,397)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(-) Tax incentives – not distributable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,559)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(113,352)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Adjusted net income</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,851,952</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,157,199</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">IOE allocated for the year (gross) </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,370,000)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,105,000)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Interim interest on equity (gross) </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,370,000)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,105,000)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Unallocated net profit balance</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,481,952</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,052,199</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(+) Unclaimed dividends and interest on equity</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">150,553 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126,977 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(+) Actuarial gains recognized and effect of limitation of surplus plan assets, net of taxes and other changes</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,157 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">367,299 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(-) Share buyback and cancellation - share buyback programs</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,099,584)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Income available for allocation</span></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,642,662</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,446,891</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Proposal for allocation:</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reserve for shareholder remuneration and investments</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,642,662 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,446,891 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,642,662</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,446,891</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Mandatory minimum dividend – 25% of adjusted net income</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,462,988</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,289,300</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The proposal to management of the 2025 financial year that is presented above will be submitted to the annual general meeting to be held in 2026.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i75548cdc21f94c72b5ae7eed6519e004_14823"></span><span id="ib8e77376a63d4b82a3651370d31450d2"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">24.f. Equity valuation adjustment</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Currency translation effects for foreign investments:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> This refers to currency translation differences arising from the translation of financial statements of Aliança (joint venture).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Financial assets at fair value through other comprehensive income:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> Refers to changes in the fair value of equity instruments (shares).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Derivative financial instruments:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> These refer to the effective part of cash flow hedges up to the balance sheet date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The changes in equity valuation adjustments, net of gains or losses and of taxes, when applicable, were as follows:</span></div><div style="margin-bottom:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.398%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Currency translation effects – foreign investments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets at fair value through other comprehensive income</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Derivative transactions</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">56,576</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(9,274)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(593)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">46,709</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Translation losses</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,566 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,566 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Losses from derivatives</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">593 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">593 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Losses on financial assets at fair value through other comprehensive income</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">81,142</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(9,287)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,855</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Translation gains</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">813 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">813 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Losses from derivatives</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(47,595)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(47,595)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Losses on financial assets at fair value through other comprehensive income</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(20)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(20)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">81,955</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(9,307)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(47,595)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">25,053</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i012e6f676b5048a4b02a43539c2fe5b7"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">24.g. Non-controlling shareholders</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.281%"><tr><td style="width:1.0%"></td><td style="width:35.947%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.635%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.056%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.464%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.201%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.785%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">IoTCo Brasil</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Vivo Ventures</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">FiBrasil</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">CloudCo Brasil</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">96,607</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">43,055</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">22,746</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">162,408</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Company</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">48,313 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42,195 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,375 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">101,883 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">48,294 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">860 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,371 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,525 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Company</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,316</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">92,651</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,184</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100,151</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Capital contributions in investees</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">97,449 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">97,449 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in equity</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,001)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,986)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in the statements of income</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,798)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,169 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,688 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,313</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,892</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,183</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,388</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Capital contributions in investees</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,990 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,990 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in equity</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,000)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">14 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,986)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in the statements of income</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,313 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(98)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,169 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,384 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">109,236</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">137,598</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,113</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">271,947</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Company</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">54,629 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">134,846 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,559 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">202,034 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">54,607 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,752 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,554 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69,913 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Company</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(54,629)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">109,803</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,233,653</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">62,635</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,351,462</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Capital contributions in investees</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">89,828 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">89,828 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - FiBrasil - Fair Value</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,230,252 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,230,252 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in equity</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(100)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(85)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in result</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,490 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,975 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,386 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,616 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31,467 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Merger of IoTCo Brasil by CloudCo Brasil</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(56,119)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,119 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(54,607)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,241</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">200,829</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">62,607</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">211,070</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Capital contributions in investees</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,833 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,833 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - FiBrasil - Fair Value</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,695 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,695 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in equity</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(100)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(95)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in result</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,489 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">408 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,129 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,611 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,637 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Merger of IoTCo Brasil by CloudCo Brasil</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(56,096)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,096 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">249,642</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,434,482</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">150,355</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,834,479</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Company</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">244,649 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,233,653 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">75,194 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,553,496 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">200,829 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">75,161 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">280,983 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ibb7c4a7546694c7b96e5dcf9a03a567b"></span><span style="background-color:#ffffff;color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">24.h. Earnings per share</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Basic and diluted earnings per share were calculated by dividing profit attributed to the Company's shareholders by the weighted average number of outstanding common and preferred shares. The Company does not hold any potential dilutive shares outstanding that could result in the dilution of earnings per share.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.124%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.118%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.518%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.840%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net profit for the year attributed to shareholders holding shares</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,167,906 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,547,948 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,029,389 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Weighted average of common shares outstanding (in thousands) - (2024 and 2023 - adjusted)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,223,658 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,286,264 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,317,207 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Basic and diluted results per common share (R$) - (2024 and 2023 - adjusted)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.91 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.69 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.52 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In accordance with accounting standard IAS 33 – “Earnings per share”, if the number of common shares increases as a result of a stock split or decreases as a result of a reverse stock split, the calculation of basic and diluted earnings per share for all periods presented must be adjusted retrospectively. In this context, the weighted average number of shares outstanding and the basic and diluted earnings per share outstanding for the comparatives periods: (i) December 31, 2024, originally presented as 1,643,132 and R$3.38, respectively; and (ii) December 31, 2023, originally presented as 1,658,604 and R$3.03, respectively , are being adjusted for the application of the retrospective adjustments of the assumptions of the reverse stock split and reverse stock split processes described in note 24.a.2).</span></div> 1500000000 63571416000 62071416000 0.90766944153 2000000000 62071416000 60071416000 1.23337023478 3408907000 91093000 4000000000.0 group all of the Company's common shares was approved, in the proportion of 40 shares for 1 share split the shares, so that 1 grouped share would correspond to 80 shares 3261287392 35633792 949354000 26.64196300439 124631000 824723000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The subscribed and paid-in share capital was R$60,071,416 and R$62,071,416 as of December 31, 2025 and 2024, respectively, represented by shares, all common, book-entry and without par value, distributed as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.152%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.266%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Shareholders</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Number</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Number (Adjusted)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Controlling Group</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,488,480,640</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">77.13</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,488,480,640</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">76.30</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,268,797,680 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">39.33</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,268,797,680 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">38.90</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,217,810,000 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37.74</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,217,810,000 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37.34</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,872,960 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.06</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,872,960 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.06</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other shareholders (Free Float)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">707,125,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">21.91</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">764,884,568</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">23.46</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Treasury Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,940,270</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">0.96</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,922,184</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">0.24</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total shares</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,226,546,622</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100.00</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,261,287,392</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100.00</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Treasury Shares</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(30,940,270)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,922,184)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total shares outstanding</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,195,606,352</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,253,365,208</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book value per outstanding share:</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On 12.31.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">R$</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 7pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21.51</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">On 12.31.2024 - Adjusted</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">R$</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 7pt 2px 0;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">21.43</span></td></tr></table></div> 60071416000 62071416000 2488480640 0.7713 2488480640 0.7630 1268797680 0.3933 1268797680 0.3890 1217810000 0.3774 1217810000 0.3734 1872960 0.0006 1872960 0.0006 707125712 0.2191 764884568 0.2346 30940270 0.0096 7922184 0.0024 3226546622 1.0000 3261287392 1.0000 -30940270 -7922184 3195606352 3253365208 21.51 21.43 1626682604 42.87 1750000000 57758856 1746480000 34740770 0.0107 928922000 3226546622 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the movements of treasury shares, described in items c) and d) of this Note.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:27.060%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.400%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Number of shares</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Values</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Capital reserves</span></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Income reserves</span></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Capital reserves</span></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Income reserves</span></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2023 (adjusted)</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(194)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(194)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share buybacks (adjusted)</span></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">51,802,800 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">51,802,800 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,299,583)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,299,583)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share cancellations (adjusted)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(43,889,328)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(43,889,328)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,099,584 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,099,584 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2024 (adjusted)</span></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,712</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,913,472</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,922,184</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(194)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(199,999)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(200,193)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share buybacks</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">57,758,856 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">57,758,856 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,746,480)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,746,480)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Share cancellations</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,122)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(34,739,648)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(34,740,770)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">928,892 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">928,922 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2025</span></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,590</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,932,680</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,940,270</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(164)</span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,017,587)</span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,017,751)</span></td><td style="border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 8712 0 8712 -194000 0 194000 0 51802800 51802800 0 -1299583000 1299583000 0 -43889328 -43889328 0 1099584000 1099584000 8712 7913472 7922184 -194000 -199999000 200193000 0 57758856 57758856 0 -1746480000 1746480000 -1122 -34739648 -34740770 30000 928892000 928922000 7590 30932680 30940270 -164000 -1017587000 1017751000 -110078000 63095000 63074000 1122 30000 -164000 -194000 1122 30000 -4444000 -168729000 172988000 215000 8735352000 7523216000 0.05 0.20 4426814000 4118419000 30940270 -1017587000 199999000 0.75 434492000 426933000 0.50 34740770 928922000 2642662000 4891633000 3177863000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At meetings of the Company's Board of Directors, interest on equity was declared, in accordance with article 26 of the Company's Bylaws, article 9 of Law No. 9,249/1995 and CVM Resolution No. 143/2022. As provided for in article 26 of the Company's Bylaws, such interest will be attributed to the mandatory dividend for the year ending on December 31, 2025, ad referendum of the Shareholders' AGM to be held in 2026, as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.997%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.422%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.991%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.267%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.580%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Dates</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Deliberation</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Credit</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Payment date</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross Amount</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amount per Share, Net</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">02.13.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">02.24.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.02.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">180,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">153,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.04714626133 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">03.13.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">03.24.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.02.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">200,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">170,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.05246778188 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.01.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.11.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">240,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">204,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.06296133934 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">05.12.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">05.22.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">500,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">425,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.13116945695 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">06.12.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">06.23.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">200,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">170,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.05264314492 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">07.14.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">07.25.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">330,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">280,500 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.08715426995 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">08.14.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">08.25.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">250,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">212,500 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.06624319750 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">09.11.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">09.22.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">400,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">340,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.10608541339 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.14.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10.27.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">380,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">323,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.10078114272 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11.13.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11.24.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">340,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">289,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.09035622247 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.16.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.29.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 1.87pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">350,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">297,500 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.09309657299 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 1.87pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,370,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,864,500</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i6d990b11bc0f4044a1c0ee2a23621de1"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%;text-decoration:underline">In 2024</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At the Annual General Meeting held on April 25, 2025, the administrators' accounts were approved, and the Management Report and Financial Statements, accompanied by the Independent Auditors' Report, the Audit and Control Committee's Opinion, and the Fiscal Council's Opinion, relating to the fiscal year ended December 31, 2024, as well as the proposal for the allocation of the result of said fiscal year 2024, were examined, discussed and voted on.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">During the 2024 fiscal year, the Company allocated interim interest on equity, which was imputed to mandatory dividends, as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:15.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.997%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.848%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.560%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.986%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.429%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Dates</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Deliberation</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Credit</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Payment date</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross Amount</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amount per Share, Net</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">03.14.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">03.28.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.17.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">300,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">255,000 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.07715190253 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.16.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.29.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.17.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">380,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">323,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.09779002985 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">06.14.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">06.26.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.17.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">175,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">148,750 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.04514626499 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">07.15.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">07.26.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">650,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">552,500 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.16814026479 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">08.14.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">08.26.2024</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">400,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">340,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.10376995616 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.12.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12.26.2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">04.30.2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1.87pt 0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,200,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,020,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">0.31352151843 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="15" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,105,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,639,250</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr></table></div> 180000000 153000000 47.14626133000 200000000 170000000 52.46778188000 240000000 204000000 62.96133934000 500000000 425000000 131.16945695000 200000000 170000000 52.64314492000 330000000 280500000 87.15426995000 250000000 212500000 66.24319750000 400000000 340000000 106.08541339000 380000000 323000000 100.78114272000 340000000 289000000 90.35622247000 350000000 297500000 93.09657299000 -3370000000 2864500000 300000000 255000000 0.07715190253 380000000 323000000 0.09779002985 175000000 148750000 0.04514626499 650000000 552500000 0.16814026479 400000000 340000000 0.10376995616 1200000000 1020000000 0.31352151843 3105000000 2639250000 -150553000 -126977000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The table below shows the calculation of dividends and interest on equity for 2025 and 2024:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:67.578%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.275%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net income for the year</span></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,167,906 </span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,547,948 </span></td><td style="border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(-) Allocation to legal reserve</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(308,395)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(277,397)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(-) Tax incentives – not distributable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,559)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(113,352)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Adjusted net income</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,851,952</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,157,199</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">IOE allocated for the year (gross) </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,370,000)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,105,000)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Interim interest on equity (gross) </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,370,000)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,105,000)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Unallocated net profit balance</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,481,952</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,052,199</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(+) Unclaimed dividends and interest on equity</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">150,553 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126,977 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(+) Actuarial gains recognized and effect of limitation of surplus plan assets, net of taxes and other changes</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">10,157 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">367,299 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(-) Share buyback and cancellation - share buyback programs</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,099,584)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Income available for allocation</span></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,642,662</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,446,891</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Proposal for allocation:</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reserve for shareholder remuneration and investments</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,642,662 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,446,891 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,642,662</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,446,891</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Mandatory minimum dividend – 25% of adjusted net income</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,462,988</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,289,300</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 6167906000 5547948000 308395000 277397000 7559000 113352000 5851952000 5157199000 -3370000000 -3105000000 -3370000000 -3105000000 2481952000 2052199000 150553000 126977000 10157000 367299000 0 -1099584000 2642662000 1446891000 2642662000 1446891000 2642662000 1446891000 1462988000 1289300000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The changes in equity valuation adjustments, net of gains or losses and of taxes, when applicable, were as follows:</span></div><div style="margin-bottom:15pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.398%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Currency translation effects – foreign investments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial assets at fair value through other comprehensive income</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Derivative transactions</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">56,576</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(9,274)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(593)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">46,709</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Translation losses</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,566 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,566 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Losses from derivatives</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">593 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">593 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Losses on financial assets at fair value through other comprehensive income</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">81,142</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(9,287)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,855</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Translation gains</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">813 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">813 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Losses from derivatives</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(47,595)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(47,595)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Losses on financial assets at fair value through other comprehensive income</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(20)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(20)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">81,955</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(9,307)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(47,595)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">25,053</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 56576000 -9274000 -593000 46709000 24566000 24566000 593000 593000 -13000 -13000 81142000 -9287000 0 71855000 813000 813000 -47595000 -47595000 -20000 -20000 81955000 -9307000 -47595000 25053000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.281%"><tr><td style="width:1.0%"></td><td style="width:35.947%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.635%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.056%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.464%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.201%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.785%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">IoTCo Brasil</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Vivo Ventures</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">FiBrasil</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">CloudCo Brasil</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2023</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">96,607</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">43,055</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">22,746</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">162,408</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Company</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">48,313 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">42,195 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,375 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">101,883 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">48,294 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">860 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,371 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">60,525 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Company</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,316</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">92,651</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,184</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100,151</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Capital contributions in investees</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">97,449 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">97,449 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in equity</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,001)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,986)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in the statements of income</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4,798)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,169 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,688 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,313</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,892</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,183</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,388</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Capital contributions in investees</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,990 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,990 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in equity</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,000)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">14 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,986)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in the statements of income</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,313 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(98)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,169 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,384 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2024</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">109,236</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">137,598</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,113</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">271,947</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Company</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">54,629 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">134,846 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,559 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">202,034 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">54,607 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,752 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,554 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69,913 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Company</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(54,629)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">109,803</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,233,653</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">62,635</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,351,462</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Capital contributions in investees</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">89,828 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">89,828 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - FiBrasil - Fair Value</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,230,252 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,230,252 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in equity</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(100)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(85)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in result</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,490 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">19,975 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,386 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,616 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">31,467 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Merger of IoTCo Brasil by CloudCo Brasil</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(56,119)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,119 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 13.19pt;text-indent:-3.69pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(54,607)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,241</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">200,829</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">62,607</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">211,070</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Capital contributions in investees</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,833 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,833 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Business combination - FiBrasil - Fair Value</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,695 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">199,695 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in equity</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(100)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(95)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 20.8pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Movements in result</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,489 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">408 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,129 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,611 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,637 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Merger of IoTCo Brasil by CloudCo Brasil</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(56,096)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">56,096 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity on December 31, 2025</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">249,642</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,434,482</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">150,355</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,834,479</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Company</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">244,649 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,233,653 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">75,194 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,553,496 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-controlling shareholders</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">200,829 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">75,161 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">280,983 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 96607000 43055000 0 22746000 162408000 48313000 42195000 11375000 101883000 48294000 860000 11371000 60525000 6316000 92651000 0 1184000 100151000 97449000 97449000 -2001000 0 15000 -1986000 8317000 -4798000 1169000 4688000 6313000 1892000 0 1183000 9388000 1990000 1990000 -2000000 0 14000 -1986000 8313000 -98000 1169000 9384000 109236000 137598000 0 25113000 271947000 54629000 134846000 12559000 202034000 54607000 2752000 12554000 69913000 -54629000 109803000 1233653000 62635000 1351462000 89828000 89828000 1230252000 1230252000 15000 -100000 -85000 1490000 19975000 3386000 6616000 31467000 -56119000 56119000 0 -54607000 2241000 200829000 62607000 211070000 1833000 1833000 199695000 199695000 0 5000 -100000 -95000 1489000 408000 1129000 6611000 9637000 -56096000 56096000 0 0 249642000 1434482000 150355000 1834479000 0 244649000 1233653000 75194000 1553496000 0 4993000 200829000 75161000 280983000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Basic and diluted earnings per share were calculated by dividing profit attributed to the Company's shareholders by the weighted average number of outstanding common and preferred shares. The Company does not hold any potential dilutive shares outstanding that could result in the dilution of earnings per share.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:55.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.124%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.118%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.518%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.840%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net profit for the year attributed to shareholders holding shares</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,167,906 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,547,948 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,029,389 </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Weighted average of common shares outstanding (in thousands) - (2024 and 2023 - adjusted)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,223,658 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,286,264 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,317,207 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Basic and diluted results per common share (R$) - (2024 and 2023 - adjusted)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.91 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.69 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.52 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 6167906000 5547948000 5029389000 3223658000 3286264000 3317207000 1.91 1.69 1.52 1643132 3.38 1658604 3.03 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i5c652c6a2ee04c79a666a29864f06a63"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">25. NET OPERATING REVENUE</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i9805b818e7094c07ac1c60e98e0cd3f3"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">25.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Revenues correspond substantially to the provision of telecommunication services, communications, sales of goods, advertising and other revenues, and are presented net of taxes, discounts and returns (in the case of sale of goods), levied on them.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Total revenues from packages that combine several products or services (fixed, mobile, data, internet or television) are allocated to each performance obligation based on their independent selling prices in relation to the total consideration for the package and recognized when (or as soon as) the obligation is satisfied. When packages promote some discount on equipment or services, an accounting adjustment is made to allocate the sale price between them based on their fair price, constituting a contractual asset or liability, which is appropriated to income over subsequent periods.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Revenues from sales of prepaid cellular recharge credits, as well as the respective taxes due, are deferred and recognized in income as the services are effectively provided.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Revenues from equipment leasing contracts, classified as leasing (Vivo TECH product), are recognized when the equipment is installed, when the effective transfer of control. Revenues are recognized at the present value of future minimum contract payments.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Revenue from the sale of devices to dealers is recorded at the time of delivery, when control is transferred to the authorized agents.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's revenue recognition process is complex, due to the large volume of transactions and wide range of goods/services that can be sold/provided separately or in aggregate, under different commercial conditions. Besides, there is the complexity of the process used by management for estimating recognized revenue rendered and not yet billed, given the diversity of data sources, revenue streams and the number of systems involved.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Revenues from services and goods are basically subject to the following indirect taxes: ICMS or ISS, as the case may be, PIS and COFINS.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ibd2c822bf08d4956ac460183086f2552"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">25.b. Breakdown</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.267%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.397%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross operating revenue</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">82,365,221</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">76,772,414</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">71,229,553</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt;text-indent:-3.69pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Services</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">74,099,399 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">68,930,886 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,727,415 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt;text-indent:-3.69pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of goods</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,265,822 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,841,528 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,502,138 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Deductions from gross operating revenue </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(22,770,221)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(20,927,366)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(19,129,402)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Taxes</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,601,278)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,011,448)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(10,654,728)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Services</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(10,001,223)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,585,332)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,078,822)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of goods</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,600,055)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,426,116)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,575,906)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Discounts granted and return of goods</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,168,943)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,915,918)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(8,474,674)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Services</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,003,472)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,594,079)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6,373,301)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of goods</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,165,471)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,321,839)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,101,373)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net operating revenue</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">59,595,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">55,845,048</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">52,100,151</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Services </span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">55,094,704</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">51,751,475</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">48,275,292</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Sale of goods</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,500,296</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,093,573</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,824,859</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">These include telephone services, use of interconnection network, data and SVA services, cable TV and other services.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">These include sale of goods (handsets, SIM cards and accessories) and equipment of “Vivo Tech”.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">No single customer contributed more than 10% of gross operating revenue for the years ended December 31, 2025, 2024 and 2023.</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i9805b818e7094c07ac1c60e98e0cd3f3"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">25.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Revenues correspond substantially to the provision of telecommunication services, communications, sales of goods, advertising and other revenues, and are presented net of taxes, discounts and returns (in the case of sale of goods), levied on them.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Total revenues from packages that combine several products or services (fixed, mobile, data, internet or television) are allocated to each performance obligation based on their independent selling prices in relation to the total consideration for the package and recognized when (or as soon as) the obligation is satisfied. When packages promote some discount on equipment or services, an accounting adjustment is made to allocate the sale price between them based on their fair price, constituting a contractual asset or liability, which is appropriated to income over subsequent periods.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Revenues from sales of prepaid cellular recharge credits, as well as the respective taxes due, are deferred and recognized in income as the services are effectively provided.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Revenues from equipment leasing contracts, classified as leasing (Vivo TECH product), are recognized when the equipment is installed, when the effective transfer of control. Revenues are recognized at the present value of future minimum contract payments.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Revenue from the sale of devices to dealers is recorded at the time of delivery, when control is transferred to the authorized agents.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's revenue recognition process is complex, due to the large volume of transactions and wide range of goods/services that can be sold/provided separately or in aggregate, under different commercial conditions. Besides, there is the complexity of the process used by management for estimating recognized revenue rendered and not yet billed, given the diversity of data sources, revenue streams and the number of systems involved.</span></div>Revenues from services and goods are basically subject to the following indirect taxes: ICMS or ISS, as the case may be, PIS and COFINS <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ibd2c822bf08d4956ac460183086f2552"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">25.b. Breakdown</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.267%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.397%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Gross operating revenue</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">82,365,221</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">76,772,414</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">71,229,553</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt;text-indent:-3.69pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Services</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">74,099,399 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">68,930,886 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,727,415 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt;text-indent:-3.69pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of goods</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,265,822 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,841,528 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,502,138 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Deductions from gross operating revenue </span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(22,770,221)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(20,927,366)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(19,129,402)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Taxes</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,601,278)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,011,448)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(10,654,728)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Services</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(10,001,223)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,585,332)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,078,822)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of goods</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,600,055)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,426,116)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,575,906)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Discounts granted and return of goods</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,168,943)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,915,918)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(8,474,674)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Services</span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(9,003,472)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,594,079)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6,373,301)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sale of goods</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,165,471)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,321,839)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,101,373)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net operating revenue</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">59,595,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">55,845,048</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">52,100,151</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Services </span></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">55,094,704</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">51,751,475</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">48,275,292</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Sale of goods</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,500,296</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,093,573</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,824,859</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">These include telephone services, use of interconnection network, data and SVA services, cable TV and other services.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">These include sale of goods (handsets, SIM cards and accessories) and equipment of “Vivo Tech”.</span></div> 82365221000 76772414000 71229553000 74099399000 68930886000 63727415000 8265822000 7841528000 7502138000 -22770221000 -20927366000 -19129402000 -11601278000 -11011448000 -10654728000 -10001223000 -9585332000 -9078822000 -1600055000 -1426116000 -1575906000 -11168943000 -9915918000 -8474674000 -9003472000 -7594079000 -6373301000 -2165471000 -2321839000 -2101373000 59595000000 55845048000 52100151000 55094704000 51751475000 48275292000 4500296000 4093573000 3824859000 0.10 <div style="margin-bottom:10pt;margin-top:20pt"><span id="ic735d2796a754a6b88ca5960ff562193"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">26. OPERATING COSTS AND EXPENSES</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.398%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cost of sales and services</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Selling expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">General and administrative expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Third-party services</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(11,275,654)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(6,327,480)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,289,582)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(18,892,716)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(12,367,635)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,705,498)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(871,271)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(14,944,404)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Personnel</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,414,603)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,504,659)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,450,316)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(6,369,578)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cost of goods sold</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,555,544)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,555,544)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Taxes, charges and contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,995,405)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(34,409)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(59,600)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,089,414)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Rental, insurance, condominium and connection means</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,242,310)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(73,616)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(56,275)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,372,201)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated impairment losses on accounts receivable (Note 5)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,581,337)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,581,337)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Materials and other operating costs and expenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(74,217)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(121,113)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(44,561)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(239,891)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(32,925,368)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(13,348,112)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(3,771,605)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(50,045,085)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.398%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cost of sales and services</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Selling expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">General and administrative expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Third-party services</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(10,294,946)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5,994,001)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,170,535)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(17,459,482)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(11,713,054)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,671,280)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(817,951)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(14,202,285)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Personnel</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,366,540)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,532,543)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,083,338)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5,982,421)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cost of goods sold</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,468,045)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,468,045)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Taxes, charges and contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,029,196)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(39,086)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(42,710)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,110,992)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Rental, insurance, condominium and connection means</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,383,815)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(73,696)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(50,490)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,508,001)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated impairment losses on accounts receivable (Note 5)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,523,263)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,523,263)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Materials and other operating costs and expenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(96,562)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(119,930)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(39,990)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(256,482)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(31,352,158)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(12,953,799)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(3,205,014)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(47,510,971)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.398%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cost of sales and services</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Selling expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">General and administrative expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Third-party services</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(9,419,794)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5,889,946)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,070,918)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(16,380,658)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(10,997,645)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,541,485)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(850,443)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13,389,573)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Personnel</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,302,479)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,415,532)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(895,751)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5,613,762)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cost of goods sold</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,301,092)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,301,092)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Taxes, charges and contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,060,261)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(29,492)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(40,364)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,130,117)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Rental, insurance, condominium and connection means</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,241,597)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(72,742)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(49,765)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,364,104)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated impairment losses on accounts receivable (Note 5)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,362,678)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,362,678)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Materials and other operating costs and expenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(92,532)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(127,365)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(50,055)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(269,952)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(29,415,400)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(12,439,240)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(2,957,296)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(44,811,936)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes costs and expenses for interconnection and use of networks, advertising and publicity, plant maintenance, electricity, security, cleaning, TV content purchase, commercial brokerage and intermediation, partnerships, call center, back office, logistics and storage, preparation and posting of telephone bills, banking services, among others.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes the consolidated amounts of R$3,723,418 and R$3,453,239 and R$3,049,570 in the years ended December 31, 2025, 2024 and 2023, respectively, related to the leases depreciation (Note 13.e.). </span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes costs and expenses with fees, salaries, social charges and benefits, profit sharing, stock-based compensation plans, pension plans and other post-employment benefits, training, transportation, health and nutrition.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes costs and expenses with FISTEL, FUST, FUNTTEL, liens for renewal of licenses and other taxes, fees and contributions.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes costs and expenses of infrastructure, real estate, equipment, vehicles, insurance and means of connection..Includes low-value lease amounts of R$6,616, R$7,066 and R$12,425 in December 31, 2025, 2024 and 2023, respectively.</span></div> <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.398%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cost of sales and services</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Selling expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">General and administrative expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Third-party services</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(11,275,654)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(6,327,480)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,289,582)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(18,892,716)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(12,367,635)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,705,498)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(871,271)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(14,944,404)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Personnel</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,414,603)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,504,659)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,450,316)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(6,369,578)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cost of goods sold</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,555,544)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,555,544)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Taxes, charges and contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,995,405)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(34,409)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(59,600)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,089,414)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Rental, insurance, condominium and connection means</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,242,310)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(73,616)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(56,275)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,372,201)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated impairment losses on accounts receivable (Note 5)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,581,337)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,581,337)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Materials and other operating costs and expenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(74,217)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(121,113)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(44,561)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(239,891)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(32,925,368)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(13,348,112)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(3,771,605)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(50,045,085)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.398%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cost of sales and services</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Selling expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">General and administrative expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Third-party services</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(10,294,946)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5,994,001)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,170,535)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(17,459,482)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(11,713,054)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,671,280)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(817,951)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(14,202,285)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Personnel</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,366,540)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,532,543)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,083,338)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5,982,421)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cost of goods sold</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,468,045)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,468,045)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Taxes, charges and contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,029,196)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(39,086)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(42,710)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,110,992)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Rental, insurance, condominium and connection means</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,383,815)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(73,696)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(50,490)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,508,001)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated impairment losses on accounts receivable (Note 5)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,523,263)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,523,263)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Materials and other operating costs and expenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(96,562)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(119,930)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(39,990)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(256,482)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(31,352,158)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(12,953,799)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(3,205,014)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(47,510,971)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:51.198%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.398%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cost of sales and services</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Selling expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">General and administrative expenses</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Third-party services</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(9,419,794)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5,889,946)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,070,918)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(16,380,658)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Depreciation and amortization</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(10,997,645)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,541,485)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(850,443)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13,389,573)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Personnel</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,302,479)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3,415,532)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(895,751)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5,613,762)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cost of goods sold</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,301,092)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4,301,092)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Taxes, charges and contributions</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,060,261)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(29,492)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(40,364)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,130,117)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Rental, insurance, condominium and connection means</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(5)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,241,597)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(72,742)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(49,765)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,364,104)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated impairment losses on accounts receivable (Note 5)</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,362,678)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1,362,678)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Materials and other operating costs and expenses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(92,532)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(127,365)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(50,055)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(269,952)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(29,415,400)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(12,439,240)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(2,957,296)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(44,811,936)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes costs and expenses for interconnection and use of networks, advertising and publicity, plant maintenance, electricity, security, cleaning, TV content purchase, commercial brokerage and intermediation, partnerships, call center, back office, logistics and storage, preparation and posting of telephone bills, banking services, among others.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes the consolidated amounts of R$3,723,418 and R$3,453,239 and R$3,049,570 in the years ended December 31, 2025, 2024 and 2023, respectively, related to the leases depreciation (Note 13.e.). </span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes costs and expenses with fees, salaries, social charges and benefits, profit sharing, stock-based compensation plans, pension plans and other post-employment benefits, training, transportation, health and nutrition.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes costs and expenses with FISTEL, FUST, FUNTTEL, liens for renewal of licenses and other taxes, fees and contributions.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes costs and expenses of infrastructure, real estate, equipment, vehicles, insurance and means of connection..Includes low-value lease amounts of R$6,616, R$7,066 and R$12,425 in December 31, 2025, 2024 and 2023, respectively.</span></div> 11275654000 6327480000 1289582000 18892716000 12367635000 1705498000 871271000 14944404000 1414603000 3504659000 1450316000 6369578000 4555544000 4555544000 1995405000 34409000 59600000 2089414000 1242310000 73616000 56275000 1372201000 1581337000 1581337000 74217000 121113000 44561000 239891000 32925368000 13348112000 3771605000 50045085000 10294946000 5994001000 1170535000 17459482000 11713054000 1671280000 817951000 14202285000 1366540000 3532543000 1083338000 5982421000 4468045000 4468045000 2029196000 39086000 42710000 2110992000 1383815000 73696000 50490000 1508001000 1523263000 1523263000 96562000 119930000 39990000 256482000 31352158000 12953799000 3205014000 47510971000 9419794000 5889946000 1070918000 16380658000 10997645000 1541485000 850443000 13389573000 1302479000 3415532000 895751000 5613762000 4301092000 4301092000 2060261000 29492000 40364000 2130117000 1241597000 72742000 49765000 1364104000 1362678000 1362678000 92532000 127365000 50055000 269952000 29415400000 12439240000 2957296000 44811936000 -3723418000 -3453239000 3049570000 6616000 7066000 12425000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="iaea79f83d29544bab14c443ecf0f3a47"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">27. OTHER OPERATING INCOME, NET</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.664%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Recovered expenses and fines</span></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">805,776 </span></td><td style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">606,088 </span></td><td style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,097,797 </span></td><td style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions for legal claims and contingent liabilities</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) (2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(731,863)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(321,936)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(661,743)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other operating income, net</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">253,677 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">59,634 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">204,266 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">327,590</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">343,786</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">640,320</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other income</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,059,453 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">665,722 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,302,063 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other expenses</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(731,863)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(321,936)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(661,743)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other operating income, net</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">327,590</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">343,786</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">640,320</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In 2024, it includes the amounts of: (i) R$386,392 relating to the reversal of regulatory provisions as a result of the Commitment Agreement Linked to the Negotiations for Self-Composition for the Adaptation of STFC Concession Contracts to Authorization Instruments (Note 20.). </span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In 2025 and 2024, it includes the amounts of R$41,402 and R$26,546, respectively, relating to the reversal of provision expenses for legal claims as a result of participation in tax amnesty programs (Note 20.).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In 2023, includes R$244,229 related to the reversal of part of the remaining 50% resulting from the agreement regarding the Post-Closing Adjustment between the Company and Oi. S.A. – In Judicial Recovery. It also includes the amounts of net gains on the sale of assets (real estate, scrap, etc.) and expenses with taxes on other operating income. In 2025, this includes gains from the remeasurement of equity interests. R$128,750 and R$6,153, resulting from the transactions for the acquisition of control of FiBrasil (note 1.c.2) and the corporate reorganization of VivaE and Vivo Ventures (note 1.c.4).</span></div> <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.664%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.264%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Recovered expenses and fines</span></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">805,776 </span></td><td style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">606,088 </span></td><td style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,097,797 </span></td><td style="background-color:#eeefef;border-top:1pt solid #929292;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Provisions for legal claims and contingent liabilities</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) (2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(731,863)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(321,936)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(661,743)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other operating income, net</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">253,677 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">59,634 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">204,266 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">327,590</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">343,786</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">640,320</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other income</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,059,453 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">665,722 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,302,063 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other expenses</span></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(731,863)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(321,936)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(661,743)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other operating income, net</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">327,590</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">343,786</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">640,320</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In 2024, it includes the amounts of: (i) R$386,392 relating to the reversal of regulatory provisions as a result of the Commitment Agreement Linked to the Negotiations for Self-Composition for the Adaptation of STFC Concession Contracts to Authorization Instruments (Note 20.). </span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In 2025 and 2024, it includes the amounts of R$41,402 and R$26,546, respectively, relating to the reversal of provision expenses for legal claims as a result of participation in tax amnesty programs (Note 20.).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">In 2023, includes R$244,229 related to the reversal of part of the remaining 50% resulting from the agreement regarding the Post-Closing Adjustment between the Company and Oi. S.A. – In Judicial Recovery. It also includes the amounts of net gains on the sale of assets (real estate, scrap, etc.) and expenses with taxes on other operating income. In 2025, this includes gains from the remeasurement of equity interests. R$128,750 and R$6,153, resulting from the transactions for the acquisition of control of FiBrasil (note 1.c.2) and the corporate reorganization of VivaE and Vivo Ventures (note 1.c.4).</span></div> 805776000 606088000 1097797000 731863000 321936000 661743000 -253677000 -59634000 -204266000 327590000 343786000 640320000 1059453000 665722000 1302063000 731863000 321936000 661743000 327590000 343786000 640320000 386392000 41402000 26546000 244229000 0.50 128750000 6153000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="ia73a26bfaff24dbbaf6383bc572c768a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">28. FINANCIAL EXPENSES, NET</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i3c5db928462b4ecf8a9b065fc3b1b343"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">28.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These include interest, monetary and exchange variations arising from short-term investments, derivative transactions, loans, financing, debentures, present value adjustments of transactions that generate monetary assets and liabilities and other financial transactions. These are recognized on an accrual basis when earned or incurred by the Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For all financial instruments measured at amortized cost and interest-yielding financial assets classified as financial assets at fair value through other comprehensive income, interest income or expense is recognized using the effective interest method, which discounts estimated future cash payments or receipts over the expected life of the financial instrument or, where appropriate, a shorter period, to the net carrying amount of the financial asset or liability.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ia38fe107c1404b82b8ddbaa2cbab63bd"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">28.b. Breakdown</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial Income</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other income with foreign exchange and monetary variation (judicial deposits, taxes and others)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">226,241 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">227,961 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">531,227 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest income </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">932,481 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">642,278 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">536,420 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gain on derivative transactions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">247,534 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">327,315 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">512,698 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest receivable (customers, taxes and other)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">238,944 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">223,797 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">165,212 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Exchange rate variations on loans and financing, debentures, leases and other creditors (Note 21.e)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">52,254 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other financial income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">195,706 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">122,922 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">244,357 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,840,906</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,544,273</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,042,168</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial Expenses</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Charges and fair value on loans, financing, debentures, leases and other creditor (Note 21.e)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,325,052)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,141,361)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,092,184)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Expenses with monetary variations of provision for contingencies (Note 20.c)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2) (3)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(712,087)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(81,296)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(784,427)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loss on derivative transactions</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(349,310)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(258,307)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(622,787)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest payable (financial institutions, trade accounts payable, taxes and other)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(792,803)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(577,229)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(560,195)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Foreign exchange variation on loans and financing (Note 21.e.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(243)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,598)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other expenses with exchange and monetary variations (suppliers, taxes and others)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(66,233)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(234,608)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(162,544)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other financial expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(183,513)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(158,577)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(163,940)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(4,429,241)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(3,453,976)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(4,386,077)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial income (expenses), net</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(2,588,335)</span></td><td style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(1,909,703)</span></td><td style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(2,343,909)</span></td><td style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes the consolidated amounts of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$1,703,845</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$1,630,993</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> and R$1,392,570 for the years ended December 31, 2025, 2024 and 2023, respectively, related to lease charges.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt"> In 2024, it includes the amount of R$405,986, related to the reversal of the monetary adjustment of regulatory provisions due to the Commitment Agreement Linked to the Negotiation for Self-Composition for the Adaptation of STFC Concession Contracts to Authorization Instruments (Note 20.).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt"> In 2025 and 2024, it includes the amounts of R$88,321 and R$374,271, respectively, related to the reversal of provisions for legal claims expenses due to participation in tax amnesty programs (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">19.b</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">).</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i3c5db928462b4ecf8a9b065fc3b1b343"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">28.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These include interest, monetary and exchange variations arising from short-term investments, derivative transactions, loans, financing, debentures, present value adjustments of transactions that generate monetary assets and liabilities and other financial transactions. These are recognized on an accrual basis when earned or incurred by the Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For all financial instruments measured at amortized cost and interest-yielding financial assets classified as financial assets at fair value through other comprehensive income, interest income or expense is recognized using the effective interest method, which discounts estimated future cash payments or receipts over the expected life of the financial instrument or, where appropriate, a shorter period, to the net carrying amount of the financial asset or liability.</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ia38fe107c1404b82b8ddbaa2cbab63bd"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">28.b. Breakdown</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial Income</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other income with foreign exchange and monetary variation (judicial deposits, taxes and others)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">226,241 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">227,961 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">531,227 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest income </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">932,481 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">642,278 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">536,420 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Gain on derivative transactions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">247,534 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">327,315 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">512,698 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest receivable (customers, taxes and other)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">238,944 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">223,797 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">165,212 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Exchange rate variations on loans and financing, debentures, leases and other creditors (Note 21.e)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">52,254 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other financial income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">195,706 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">122,922 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">244,357 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,840,906</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,544,273</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,042,168</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial Expenses</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Charges and fair value on loans, financing, debentures, leases and other creditor (Note 21.e)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,325,052)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,141,361)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,092,184)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Expenses with monetary variations of provision for contingencies (Note 20.c)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">(2) (3)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(712,087)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(81,296)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(784,427)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loss on derivative transactions</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(349,310)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(258,307)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(622,787)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest payable (financial institutions, trade accounts payable, taxes and other)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(792,803)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(577,229)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(560,195)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Foreign exchange variation on loans and financing (Note 21.e.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(243)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2,598)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other expenses with exchange and monetary variations (suppliers, taxes and others)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(66,233)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(234,608)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(162,544)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other financial expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(183,513)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(158,577)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(163,940)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(4,429,241)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(3,453,976)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(4,386,077)</span></td><td style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial income (expenses), net</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(2,588,335)</span></td><td style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(1,909,703)</span></td><td style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(2,343,909)</span></td><td style="background-color:#f2f2f2;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes the consolidated amounts of </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$1,703,845</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">, </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$1,630,993</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> and R$1,392,570 for the years ended December 31, 2025, 2024 and 2023, respectively, related to lease charges.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt"> In 2024, it includes the amount of R$405,986, related to the reversal of the monetary adjustment of regulatory provisions due to the Commitment Agreement Linked to the Negotiation for Self-Composition for the Adaptation of STFC Concession Contracts to Authorization Instruments (Note 20.).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt"> In 2025 and 2024, it includes the amounts of R$88,321 and R$374,271, respectively, related to the reversal of provisions for legal claims expenses due to participation in tax amnesty programs (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">19.b</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">).</span></div> 226241000 227961000 531227000 932481000 642278000 536420000 247534000 327315000 512698000 238944000 223797000 165212000 0 0 52254000 195706000 122922000 244357000 1840906000 1544273000 2042168000 -2325052000 -2141361000 -2092184000 712087000 81296000 784427000 349310000 258307000 622787000 792803000 577229000 560195000 243000 2598000 0 66233000 234608000 162544000 183513000 158577000 163940000 4429241000 3453976000 4386077000 -2588335000 -1909703000 -2343909000 -1703845000 -1630993000 1392570000 405986000 88321000 374271000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i3316aaf56b244525b08e2b9baf71998b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">29. BALANCES AND TRANSACTIONS WITH RELATED PARTIES</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="icdfb4ea9ba4f45f2bfd804269e943bb7"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">29.a. Balances and transactions with related parties</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main balances of assets and liabilities with related parties arise from transactions with companies related to the controlling group, which were carried out at prices and other commercial conditions as agreed in a contract between the parties and refer to:</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">a)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:17.42pt">Fixed and mobile telephone services, provided to Telefónica Group companies.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">b)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:16.86pt">Fiber optic network construction consultancy service.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">c)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:17.98pt">Values referring to installments receivable as a result of the sale of equity interests and capital contributions, as well as the updating of these values.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">d)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:16.86pt">Shared services, passed on at the cost actually incurred.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">e)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:17.42pt">Right to use certain software licenses and contracted maintenance and support services.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">f)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:19.09pt">International transmission infrastructure for various contracted data circuits and connection services.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">g)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:16.86pt">Adquira Sourcing Platform, an online solution for negotiating the purchase and sale of various types of goods and services.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">h)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:16.86pt">Cost Sharing Agreement, reimbursement of expenses related to the digital business.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">i)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:20.2pt">Financial Clearing House Roaming, inflows of funds for payments and receipts arising from the roaming operation.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">j)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:20.2pt">Data communication services and integrated solutions.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">k)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:17.42pt">Long-distance calling and international roaming services</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">l)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:20.2pt">Disposal of assets</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">m)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:14.09pt">Brand Fee, for the assignment of use of brand rights.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">n)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:16.86pt">Rental of buildings, data circuit or infrastructure.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">o)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:16.86pt">Factoring operations, financing line for services provided by Telefónica Group suppliers.</span></div><div style="margin-bottom:6pt;padding-left:25.2pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">p)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:16.86pt">Contracts for the assignment of rights to use the pipeline network, duct rental services for fiber optics and right-of-way occupation contracts with various highway concessionaires.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries sponsor pension plans and other post-employment benefits for its employees with Visão Prev and Sistel (<a href="#id3769a98ed7749859e6a4b26ba5f4eb7_373" style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:none">Note</a> 31.).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Telefônica Corretora de Seguros (“TCS“) acts as an intermediary in transactions between insurance companies and the Company and its subsidiaries in the acquisition of insurance for cell phones, operational risks, general liability, guarantee insurance, among others. There are no balances arising from insurance intermediation between TCS and the Company and its subsidiaries.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The following table summarizes the consolidated balances with related parties:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:34.532%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.530%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance Sheet – Assets</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="15" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Type of transaction</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Accounts receivable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Accounts receivable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other assets</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%;text-decoration:underline">Parent Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,647 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,415 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,199 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,389 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,369 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">111 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">66 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">6,016</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,310</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,415</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,455</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%;text-decoration:underline">Other Group companies</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Global Solutions Participaçôes, Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">a) / d) / e) / f) / j) / n) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,430 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">354 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,331 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Venezolana, C.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,537 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,197 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11,857 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,821 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Terra Networks Mexico SA de CV</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">e)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,174 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">551 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Global Solutions, S.L.U.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">f) / k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">23,441 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25,626 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Innovación Digital, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,608 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,581 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Móviles Argentina, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,183 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telfisa Global B.V.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">i)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">16,694 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18,308 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telxius Cable Brasil Ltda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">a) / d) / f)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,539 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">321 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,644 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">411 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefônica Cibersegurança e Tecnologia do Brasil Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">a) / d) / e) / n) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">131 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18,270 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Celular De Telefonia SA de CV</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,582 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">FiBrasil Infraestrutura e Fibra Ótica S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">a) / e) / f) / j) / n) / p)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">958 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">74,991 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica IoT &amp; Big Data Tech, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">c) / d)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,598 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,292 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Hispanoamérica, S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,077 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,168 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Móviles del Uruguay, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,137 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,155 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,424 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,407 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,335 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">16,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">44,276</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">24,161</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,308</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">61,825</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">112,945</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">16,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">50,292</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">26,471</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,308</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">63,240</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">115,400</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents (Note 3.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">16,694 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts receivable (Note 5.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">50,292 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">63,240 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets (Note 11.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">26,317 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">72,641 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets (Note 11.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">154 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.135%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.106%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.106%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.106%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.114%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance Sheet – Liabilities </span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Type of transaction</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Trade accounts payable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other liabilities and leases</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Trade accounts payable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other liabilities and leases</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%;text-decoration:underline">Parent Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">900 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">979 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,205 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,199 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / e) / m)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11,490 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">124,541 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,585 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">128,304 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12,390</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">125,746</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">9,564</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">129,503</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%;text-decoration:underline">Other Group companies</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Global Solutions Participaçôes, Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / e) / f) / k)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">60,099 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">318 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">31,843 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">318 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Compras Electrónicas, S.L.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">g)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">31,253 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">29,952 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Innovación Digital, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">h)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">38,503 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">40,613 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Venezolana, C.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11,037 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,742 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12,310 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,961 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Global Solutions, S.L.U.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">e) / f) / j) / k)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">54,769 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">55,623 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telxius Cable Brasil Ltda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / f) / l)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">44,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,354 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">50,965 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,572 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Companhia AIX Participações Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">p)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,867 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">60,481 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,691 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">80,549 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica IoT &amp; Big Data Tech, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">h)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">33,477 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">31,315 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefônica Cibersegurança e Tecnología do Brasil Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">e)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">111,819 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">FiBrasil Infraestrutura e Fibra Ótica S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / f)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">121,887 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">30,363 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">468 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">47,487 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">561 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">307,361</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">73,363</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">536,505</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">84,974</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">319,751</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">199,109</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">546,069</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">214,477</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:13pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts payable and other payables (Note 17.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">319,751 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">546,069 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases (Note 21.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25,608 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,335 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities (Note 23.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">138,026 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">133,290 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases (Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">34,873 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">56,214 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities (Note 23.)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">602 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">638 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.668%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="51" style="border-bottom:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Income statement</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Type of transaction</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues (cost and other expenses)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial income (expenses)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues (cost and other expenses)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial income (expenses)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues (cost and other expenses)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial income (expenses)</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%;text-decoration:underline">Parent Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,966 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,739)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">32 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,852 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,549)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(11)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,446 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,444)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">26 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">936 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,680 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,099 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(38)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,534 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(775)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d) / e) / m)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(546,756)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">32,792 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(532,139)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(47,364)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(486,147)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">7,572 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,966</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(550,559)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">34,504</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,852</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(534,589)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(47,413)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,446</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(484,057)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,823</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%;text-decoration:underline">Other Group companies</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Global Solutions Participaçôes, Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">a) / d) / e) / f) / j) / k) / n)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,975 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(76,307)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,047 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(87,976)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(21)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">11,242 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(95,885)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Móviles Argentina, S.A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,226 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,603)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">482 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,204 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(7,260)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,167)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,304 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,194)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">132 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Innovación Digital, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d) / h)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(235,400)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,583 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(222,662)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(23,180)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(209,100)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">10,724 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Global Technology S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">e) </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(72,935)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,054 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(77,779)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,847)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(64,435)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,555 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Global Solutions, S.L.U.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">e) / f) / j) / k)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">35,747 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(99,341)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,109 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">41,586 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(100,807)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,213 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">40,095 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(78,611)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,547)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telxius Cable Brasil Ltda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">a) / d) / f) / l)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,406 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(234,803)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,616 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,350 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(250,233)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(9,884)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,257 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(215,062)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,579 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica Cibersegurança e Tecnología do Brasil Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> a) / d) / e) / n)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">588 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(244,920)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">351 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(278,898)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">817 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(200,290)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica IoT &amp; Big Data Tech, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">c) / d) / h) </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(132,306)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,755 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(121,052)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,732)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(114,302)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,307 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">FiBrasil Infraestrutura e Fibra Ótica S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">a) / d) / e) / f) / j) / n) / p)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,470 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(285,415)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,514 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">11,331 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(385,680)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">12,727 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,658 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(215,377)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,238 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Companhia AIX Participações Ltda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">a) / p)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">104 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(9,066)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">45 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,946)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">70 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,474)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica Factoring do Brasil Ltda.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d) / o)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">11 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,494 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">12 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,477 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">699 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">23 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,966 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Others</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,939 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(110,075)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(37)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">7,954 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(107,137)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,791)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,503 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(97,078)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,195 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">67,466</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,491,611)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21,010</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">79,880</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,638,007)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(35,929)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">79,969</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,293,368)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">30,709</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">70,432</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,042,170)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">55,514</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">82,732</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,172,596)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(83,342)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">82,415</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,777,425)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">37,532</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i6b455d9c10e140be8bb34fa49b088269_2745"></span><span id="i977dbc06abc4466da8384099dc54b93b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">29.b. Management compensation</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Consolidated key management compensation paid by the Company to its Board of Directors and Statutory Officers for the years ended December 31, 2025, and 2024 totaled R$79,300 and R$67,496, respectively. Of this amount, R$40,632 (R$36,179 on December 31, 2024) for salaries, benefits and social charges and R$38,668 (R$31,317 on December 31, 2024) for variable compensation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">These were recorded as personnel expenses in General and administrative expenses.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the years ended December 31, 2025, 2024 and 2023, the Directors and Officers received no pension, retirement or similar benefits.</span></div> <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The following table summarizes the consolidated balances with related parties:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:34.532%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.530%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance Sheet – Assets</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="15" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Type of transaction</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Accounts receivable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Accounts receivable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other assets</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%;text-decoration:underline">Parent Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,647 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,415 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,199 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,389 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,369 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">111 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">66 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">6,016</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,310</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,415</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,455</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%;text-decoration:underline">Other Group companies</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Global Solutions Participaçôes, Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">a) / d) / e) / f) / j) / n) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,430 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">354 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,331 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Venezolana, C.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,537 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,197 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11,857 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,821 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Terra Networks Mexico SA de CV</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">e)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,174 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">551 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Global Solutions, S.L.U.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">f) / k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">23,441 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25,626 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Innovación Digital, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,608 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,581 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Móviles Argentina, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,183 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telfisa Global B.V.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">i)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">16,694 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18,308 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telxius Cable Brasil Ltda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">a) / d) / f)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,539 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">321 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,644 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">411 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefônica Cibersegurança e Tecnologia do Brasil Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">a) / d) / e) / n) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">131 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18,270 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Celular De Telefonia SA de CV</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,582 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">FiBrasil Infraestrutura e Fibra Ótica S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">a) / e) / f) / j) / n) / p)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">958 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">74,991 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica IoT &amp; Big Data Tech, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">c) / d)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,598 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,292 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Hispanoamérica, S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,077 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,168 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Móviles del Uruguay, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,137 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,155 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,424 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,407 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,335 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">16,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">44,276</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">24,161</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,308</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">61,825</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">112,945</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">16,694</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">50,292</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">26,471</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,308</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">63,240</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">115,400</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents (Note 3.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">16,694 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts receivable (Note 5.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">50,292 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">63,240 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets (Note 11.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">26,317 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">72,641 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other assets (Note 11.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">154 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:40.135%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.106%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.106%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.106%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.114%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Balance Sheet – Liabilities </span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Type of transaction</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Trade accounts payable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other liabilities and leases</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Trade accounts payable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Other liabilities and leases</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%;text-decoration:underline">Parent Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">900 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">979 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,205 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,199 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / e) / m)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11,490 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">124,541 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,585 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">128,304 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12,390</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">125,746</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">9,564</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">129,503</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%;text-decoration:underline">Other Group companies</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Global Solutions Participaçôes, Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / e) / f) / k)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">60,099 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">318 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">31,843 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">318 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Compras Electrónicas, S.L.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">g)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">31,253 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">29,952 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Innovación Digital, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">h)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">38,503 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">40,613 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Venezolana, C.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11,037 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,742 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12,310 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,961 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica Global Solutions, S.L.U.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">e) / f) / j) / k)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">54,769 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">55,623 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telxius Cable Brasil Ltda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / f) / l)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">44,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,354 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">50,965 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,572 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Companhia AIX Participações Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">p)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,867 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">60,481 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,691 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">80,549 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefónica IoT &amp; Big Data Tech, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">h)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">33,477 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">31,315 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Telefônica Cibersegurança e Tecnología do Brasil Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">e)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">111,819 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">FiBrasil Infraestrutura e Fibra Ótica S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">d) / f)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">121,887 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">13 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">30,363 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">468 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">47,487 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">561 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">307,361</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">73,363</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">536,505</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">84,974</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">319,751</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">199,109</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">546,069</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">214,477</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:13pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts payable and other payables (Note 17.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">319,751 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">546,069 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases (Note 21.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">25,608 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,335 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities (Note 23.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">138,026 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">133,290 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases (Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">34,873 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">56,214 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Other liabilities (Note 23.)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">602 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">638 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:25.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.227%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.652%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.668%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="51" style="border-bottom:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Income statement</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="border-top:1pt solid #929292;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #929292;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Type of transaction</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues (cost and other expenses)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial income (expenses)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues (cost and other expenses)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial income (expenses)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Operating revenues (cost and other expenses)</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial income (expenses)</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%;text-decoration:underline">Parent Companies</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Móviles Chile, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,966 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4,739)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">32 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,852 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,549)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(11)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,446 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,444)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">26 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Latinoamérica Holding, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">936 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,680 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,099 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(38)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,534 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(775)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d) / e) / m)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(546,756)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">32,792 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(532,139)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(47,364)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(486,147)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">7,572 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,966</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(550,559)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">34,504</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,852</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(534,589)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(47,413)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,446</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(484,057)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,823</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%;text-decoration:underline">Other Group companies</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Global Solutions Participaçôes, Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">a) / d) / e) / f) / j) / k) / n)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,975 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(76,307)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,047 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(87,976)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(21)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">11,242 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(95,885)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Móviles Argentina, S.A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">k)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,226 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,603)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">482 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,204 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(7,260)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,167)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,304 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,194)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">132 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Innovación Digital, S.L.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d) / h)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(235,400)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,583 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(222,662)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(23,180)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(209,100)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">10,724 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Global Technology S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">e) </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(72,935)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,054 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(77,779)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,847)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(64,435)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,555 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica Global Solutions, S.L.U.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">e) / f) / j) / k)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">35,747 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(99,341)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,109 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">41,586 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(100,807)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,213 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">40,095 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(78,611)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,547)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telxius Cable Brasil Ltda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">a) / d) / f) / l)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,406 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(234,803)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,616 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,350 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(250,233)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(9,884)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,257 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(215,062)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,579 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica Cibersegurança e Tecnología do Brasil Ltda</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> a) / d) / e) / n)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">588 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(244,920)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">351 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(278,898)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">817 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(200,290)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefónica IoT &amp; Big Data Tech, S.A.</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">c) / d) / h) </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(132,306)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,755 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(121,052)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,732)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(114,302)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">6,307 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">FiBrasil Infraestrutura e Fibra Ótica S.A.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">a) / d) / e) / f) / j) / n) / p)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,470 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(285,415)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,514 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">11,331 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(385,680)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">12,727 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,658 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(215,377)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,238 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Companhia AIX Participações Ltda</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">a) / p)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">104 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(9,066)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">45 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,946)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">70 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5,474)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Telefônica Factoring do Brasil Ltda.</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">d) / o)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">11 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,494 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">12 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,477 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">699 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">23 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,966 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Others</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,939 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(110,075)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(37)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">7,954 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(107,137)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,791)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,503 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(97,078)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,195 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">67,466</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,491,611)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21,010</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">79,880</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,638,007)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(35,929)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">79,969</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,293,368)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">30,709</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">70,432</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,042,170)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">55,514</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">82,732</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,172,596)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(83,342)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">82,415</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,777,425)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">37,532</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1647000 1415000 2199000 2389000 4369000 111000 66000 0 6016000 2310000 0 1415000 2455000 1430000 354000 3331000 317000 10537000 5197000 11857000 5821000 1174000 551000 23441000 25626000 9608000 3581000 6183000 16694000 18308000 2539000 321000 6644000 411000 131000 18270000 2582000 2759000 958000 74991000 1598000 1292000 2077000 3168000 1137000 5155000 2424000 5407000 2335000 16694000 44276000 24161000 18308000 61825000 112945000 16694000 50292000 26471000 18308000 63240000 115400000 16694000 18308000 50292000 63240000 26317000 72641000 154000 42759000 900000 979000 1205000 1199000 11490000 124541000 8585000 128304000 12390000 125746000 9564000 129503000 60099000 318000 31843000 318000 31253000 29952000 38503000 40613000 11037000 1742000 12310000 1961000 54769000 55623000 44993000 10354000 50965000 1572000 2867000 60481000 2691000 80549000 33477000 31315000 111819000 121887000 13000 30363000 468000 47487000 561000 307361000 73363000 536505000 84974000 319751000 199109000 546069000 214477000 319751000 546069000 25608000 24335000 138026000 133290000 34873000 56214000 602000 638000 2966000 -4739000 32000 2852000 -3549000 -11000 2446000 -2444000 26000 936000 1680000 1099000 -38000 4534000 -775000 -546756000 32792000 -532139000 -47364000 -486147000 7572000 2966000 -550559000 34504000 2852000 -534589000 -47413000 2446000 -484057000 6823000 5975000 -76307000 6047000 -87976000 -21000 11242000 -95885000 4226000 -2603000 482000 3204000 -7260000 -1167000 2304000 -6194000 132000 -235400000 9583000 -222662000 -23180000 -209100000 10724000 -72935000 1054000 -77779000 -5847000 -64435000 2555000 35747000 -99341000 1109000 41586000 -100807000 2213000 40095000 -78611000 -2547000 9406000 -234803000 3616000 9350000 -250233000 -9884000 8257000 -215062000 4579000 588000 -244920000 351000 -278898000 817000 -200290000 -132306000 4755000 -121052000 -5732000 -114302000 6307000 5470000 -285415000 9514000 11331000 -385680000 12727000 8658000 -215377000 5238000 104000 -9066000 45000 -2946000 70000 -5474000 11000 2494000 12000 1477000 699000 23000 2966000 5939000 -110075000 -37000 7954000 -107137000 -2791000 8503000 -97078000 9195000 67466000 -1491611000 21010000 79880000 -1638007000 -35929000 79969000 -1293368000 30709000 70432000 -2042170000 55514000 82732000 -2172596000 -83342000 82415000 -1777425000 37532000 79300000 67496000 40632000 36179000 38668000 31317000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i340d739036da4a9e9bb3b10c223270d4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">30. SHARE-BASED PAYMENT PLANS</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Plan liabilities are recognized at the fair value of the cash-settled transaction. Fair value is measured initially and at each year-end date up to and including the settlement date, with the change in fair value recognized as employee benefit expense (Note 25.) in the statement of income. Fair value is recognized as an expense over the period to the acquisition date, with a corresponding liability recognized.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's parent company, Telefónica, maintains different compensation plans based on the quoted value of its shares (Talent for the Future Share Plan (“TFSP“) and Performance Share Plan (“PSP“), which were also offered to directors and employees of its subsidiaries, including the Company and its subsidiaries.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company approved an incentive plan (Performance Share Plan (“PSP VIVO”) via performance units, with cash settlement (“Plan”). Participants in the Plan will be entitled to the grant of a certain number of units representing one share issued by the Company (VIVT3) (“Unit” and “Share”). Each Unit represents the expectation of the right to receive the full value of 01 (one) Share, which will serve as a basis, taking into account the number of Units received, to determine the value of the incentive to be paid by the Company in cash to participants.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Delivery of shares and/or incentives is subject to: (i) maintaining an active employment relationship with the Telefónica Group on the consolidation date of the cycle; and (ii) the achievement of results that represent the fulfillment of the objectives established for the plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The level of success is based on comparing the evolution of shareholder remuneration, considering price and dividends (Total Shareholder Return - TSR) of the share of Telefónica or the Company, in relation to the evolution of the TSRs of the companies in the pre-defined Comparison Group, the achievement of the FCF (Free Cash Flow) of the Telefónica Group or the Company the neutralization or compensation of CO2 emissions (from the 2021 Cycle) and gender equality – presence of women in management positions (from the 2024 Cycle).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, the quoted value of Telefónica's shares was 3.4930 euros.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main plans in effect as of December 31, 2025 were:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.170%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.244%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.138%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Public (Officers and Employees)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Potential of Company shares to be received</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Talent for the Future Share Plan (“TFSP”) - global level</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Senior Managers, Managers and Specialists</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2023-2025 (January 1, 2023 to December 31, 2025)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">139 active executives</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">280,500 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2024-2026 (January 1, 2024 to December 31, 2026)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">139 active executives</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">256,000 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2025-2027 (January 1, 2025 to December 31, 2027)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">132 active executives</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">236,500 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Performance Share Plan (“PSP”) – global level</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Vice Presidents and Directors</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2023-2025 (January 1, 2023 to December 31, 2025)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">90 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">870,984 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2024-2026 (January 1, 2024 to December 31, 2026)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">107 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">980,665 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2024-2026 (January 1, 2024 to December 31, 2026)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">119 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,007,632 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Performance Share Plan (“PSP VIVO”) - local level</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Vice Presidents and Directors</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2023-2025 (January 1, 2023 to December 31, 2025)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">89 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">810,838 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2024-2026 (January 1, 2024 to December 31, 2026)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">106 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">780,530 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2025-2027 (January 1, 2025 to December 31, 2027)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">118 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,043,205 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify;text-indent:3.8pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The expenses of the Company and its subsidiaries with the share-based compensation plans described above, when applicable, are recorded as personnel expenses, segregated in the Cost of Services Rendered, Selling Expenses and General and Administrative Expenses groups (Note 26.), in the amounts of R$53,792 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$41,843</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">. For the years ended December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025 and 2024, the consolidated liability balances of the share compensation plans were R$154,736 and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$126,019</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively, including taxes.</span></div> 3.4930 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main plans in effect as of December 31, 2025 were:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:46.170%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:34.244%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.138%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Public (Officers and Employees)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Potential of Company shares to be received</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Talent for the Future Share Plan (“TFSP”) - global level</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Senior Managers, Managers and Specialists</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2023-2025 (January 1, 2023 to December 31, 2025)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">139 active executives</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">280,500 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2024-2026 (January 1, 2024 to December 31, 2026)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">139 active executives</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">256,000 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2025-2027 (January 1, 2025 to December 31, 2027)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">132 active executives</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">236,500 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Performance Share Plan (“PSP”) – global level</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Vice Presidents and Directors</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2023-2025 (January 1, 2023 to December 31, 2025)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">90 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">870,984 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2024-2026 (January 1, 2024 to December 31, 2026)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">107 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">980,665 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2024-2026 (January 1, 2024 to December 31, 2026)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">119 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,007,632 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Performance Share Plan (“PSP VIVO”) - local level</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Vice Presidents and Directors</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2023-2025 (January 1, 2023 to December 31, 2025)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">89 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">810,838 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2024-2026 (January 1, 2024 to December 31, 2026)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">106 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">780,530 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cycle 2025-2027 (January 1, 2025 to December 31, 2027)</span></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:10pt;text-align:justify"></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">118 active executives (including 5 executives appointed pursuant to the Company's Articles of Association)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,043,205 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 139 280500000 139 256000000 132 236500000 90 5 870984000 107 5 980665000 119 5 1007632000 89 5 810838000 106 5 780530000 118 5 1043205000 53792000 41843000 154736000 126019000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i3b23ceaa5cb646839715f0f0308938e9"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">31. PENSIONS PLANS AND OTHER POST-EMPLOYMENT BENEFITS</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i376304e92fa446349dd2c9b9e955e009"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">31.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries individually sponsor pension funds of post-retirement benefits for active and retired employees, in addition to a multisponsor supplementary retirement plan and health care plan for former employees. Contributions are determined on an actuarial basis and recorded on an accrual basis. Liabilities relating to defined benefit plans are determined based on actuarial evaluations at each year-end, in order to ensure that sufficient reserves have been set up for both current and future commitments.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries manage and individually sponsors a health care plan for retired employees and former employees with fixed contributions to the plan, in accordance with Law No. 9656/1998 (which provides for private health care and health insurance plans). As provided for in Articles 30 and 31 of said law, participants shall have the right to the health care plan in which they participated while they were active employees.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Actuarial liabilities related to defined benefit plans were calculated using the projected unit credit method. Actuarial gains and losses are recognized immediately in equity (in other comprehensive income).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For plans with defined contribution characteristics, the obligation is limited to the contributions payable, which are recognized in the P&amp;L in the respective accrual periods.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The asset or liability related to defined benefit plan to be recognized in the financial statements corresponds to the present value of the obligation for the defined benefit (using a discount rate based on long-term National Treasury Notes – “NTNs”), less the fair value of plan assets that will be used to settle the obligations. Plan assets are assets held by a privately held supplementary pension plan entity. Plan assets are not available to the Company’s creditors or those of its subsidiaries and cannot be paid directly to the Company or its subsidiaries. The fair value is based on information on market prices and, in the case of securities quoted, on the purchase price disclosed. The value of any defined benefit asset then recognized is limited to the present value of any economic benefits available as a reduction in future plan contribution from the Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Actuarial costs recognized in the statement of income are limited to the service cost and cost of interest on the defined benefit plan obligation. Any changes in the measurement of plan assets and obligations are initially recognized in other comprehensive income, and immediately reclassified to retained earnings in P&amp;L.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i15aad307f8a64b8d8aa246462a726216"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">31.b. Critical estimates and judgments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The cost of pension plans with defined benefits and other post-employment health care benefits and the present value of the pension obligation are determined using actuarial valuation methods. Actuarial valuation involves use of assumptions about discount rates, future salary increases, mortality rates and future increases in pension and annuity benefits. The obligation for defined benefits is highly sensitive to changes in these assumptions. All assumptions are reviewed on an annual basis.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The mortality rate is based on publicly available mortality tables in the country. Future salary increases, and pension increases are based on expected future inflation rates for the country.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i8b105006f8c54c40a2287d48cd88b718"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">31.c. Information on pension plans and other post-employment benefits</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The plans sponsored by the Company and its subsidiaries and the related benefit types are as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.612%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.141%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:42.725%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plan</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Type</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Entity</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Sponsor</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">PBS-A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sistel</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil, jointly with other telecoms resulting from privatization of the Sistema Telebrás</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">PAMA / PCE</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sistel</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil, jointly with other telecoms resulting from privatization of the Sistema Telebrás</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Healthcare – Law No. 9656/98</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil, Terra Networks, TGLog, TIS, CloudCo Brasil and FiBrasil</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CTB</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica BD</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VisãoPrev</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VISÃO</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined contribution (DC) / Hybrid</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VisãoPrev</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil, Terra Networks, TGLog, TIS, CloudCo Brasil, CyberCo Brasil and FiBrasil</span></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company has participation in the decisions that directly affect the governance of the plans, with members nominated for both the Deliberative Council and the Fiscal Council of the administrators Visão Prev Sociedade de Previdência Complementar (“Visão Prev”) and Fundação Sistel de Seguridade Social (“Sistel”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The defined benefit obligation is made up of different components, according to the pension characteristic of each plan, and may include the actuarial liabilities of supplementary pension liabilities, health care benefits to retirees and dependents or compensation for death or disability of members. This liability is exposed to economic and demographic risks, such as: (i) increases in medical costs that could impact the cost of health care plans; (ii) salary growth; (iii) long-term inflation rate; (iv) nominal discount rate; and (v) life expectancy of members and pensioners.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value of plan assets is primarily comprised of fixed income investments (NTN's, LFT’s, LTN's, repurchase agreements, CDBs, debentures, letters of guarantee and FIDC shares) and equity investments (highly liquid, well regarded, large company shares and investments in market indices). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Due to the concentration of fixed income and floating rate investments plan assets are mainly exposed to the risks inherent in the financial market and economic environment such as: (i) market risk in the economic sectors where variable income investments are concentrated; (ii) risk events that impact the economic environment and market indices where variable income investments are concentrated; and (iii) the long-term inflation rate that may erode the profitability of fixed income investments at fixed rates.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The companies that administer post-employment benefits plans sponsored by the Company (Visão Prev and Sistel) seek to meet the flows of assets and liabilities through the acquisition of fixed income securities and other long-term assets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">With the exception of the Companhia Telefônica Brasileira ("CTB") and the healthcare plan under Law No. 9656/98, generally all benefit plans that have funds constituted present a surplus position. The economic benefit recorded in the Company's assets or that of its subsidiaries does not reflect the total surplus determined in these plans, as it only considers only the portion of the surplus which presents a real possibility of recovery. The means of plan surplus recovery is solely through reductions in future contributions and given that not all plans currently receive enough contributions for full recovery of surpluses, the economic benefit recorded under assets is limited to the total possible recovery amount in accordance with projected future contributions.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The position of plan assets is on December 31, 2025 and 2024, respectively, and plan assets were apportioned based on the Company’s actuarial liabilities in relation to the total actuarial liabilities of the plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The actuarial gains and losses generated in each year are immediately recognized in equity (in other comprehensive income).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The following is a summary of the pension plans and other post-employment benefits:</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i667041fbc6b14fe59e30bb74bdb57748"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.1. Post-Employment Health Benefits Plans</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The actuarial valuation made for the PAMA health plan used the registration of the participants with a base date of August 31, 2025, while the actuarial valuation made for the health plan Law No. 9,656/98 used the registration of the participants with a base date of September 30, 2025, both plans projected for December 31, 2025. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For comparative exercises, the actuarial valuation made for the PAMA health plan used the registration of the participants with a base date of August 31, 2024, while the actuarial valuation made for the health plan Law No. 9,656/98 used the registration of the participants with a base date of September 30, 2024, both plans projected for December 31, 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In September 2025, changes occurred in the health plan for employees and retirees (Law No. 9,656): the Company carried out a review and adjustments to the methodology used for calculating medical costs for active employees and retirees (eligible under Law No. 9,656), including a review of assumptions such as: discount rates for actuarial liabilities, aging factor (increase in the use of medical services during the period), and take-up (percentage of terminated/retired employees eligible for the benefit under Law No. 9,656). The consolidated accounting effects of these changes were: (i) R$105,841 in pension plan and other post-employment benefit liabilities (note 23); (ii) R$24,223 in other comprehensive income (equity), net of taxes; (iii) R$13,178 in deferred income tax and social contribution (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">8.e</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">); and (iv) R$68,440 in general and administrative expenses (personnel expenses, charges, and social benefits) (note 26).</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i11df9c50e8d4449685e837f8c035f0fa"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.1.1. Healthcare Plan to Retirees and Special Coverage Program (PAMA and PAMA-PCE)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company, together with other companies of the former Telebrás System, at shared cost, sponsor health care plans (PAMA and PAMA-PCE) to retirees. These plans are managed by Fundação Sistel and are closed plans, not admitting new members.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Contributions to the plans are determined based on actuarial valuations prepared by independent actuaries, in accordance with the rules in force in Brazil. The funding procedure is the capitalization method and the sponsor’s contribution are at the fixed percentage of payroll of employees covered by the Telefônica BD plan.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i1b2cc6ca9357417b936e738650150409"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.1.2. Health care plan – Law No. 9656/1998</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company manages and together with its subsidiaries sponsors a health care plan to retired employees and former employees with fixed contributions to the plan, in accordance with Law No. 9656/98.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As provided for in Articles 30 and 31 of said law, participants shall have the right to the health care plan in which they participated while they were active employees. Benefitted participants are classified as (i) retirees and their dependents; and (ii) dismissed employees and their dependents.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Retirees and dismissed employees, in order to keep their right to the benefits, must make contributions to the plan in accordance with the contribution tables by age bracket established by carriers and/or insurance companies.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i069e041512fa4f6383a394ce1a31fb17"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.2. Post-employment Social Security Plans</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Post-employment pension plans include: PBS Assistidos (“PBS-A”), CTB, Telefônica BD and Visão.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The actuarial assessment carried out for the CTB, PBS-A, Telefônica BD and Plano Visão pension plans used the participant registry with a base date of July 31, 2025, projected to December 31, 2025,</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and the participant registry with a base date of July 31, 2024, projected to December 31, 2024.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ie98bc65612a54b988d38f0f94ecba75c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.2.1. PBS Assisted Plan (PBS-A)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The PBS-A plan is a defined benefit private pension plan managed by Sistel and sponsored by the Company jointly with the other telecommunications companies originating in the privatization of the Telebrás System. The plan is subject to funding by sponsors in the case of any asset insufficiency to ensure pension supplementation of participants in the future.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The PBS-A plan comprises assisted participants of the Sistel Benefit Plan who were already retirees on January 31, 2000, from all the participating sponsors, with joint liability of all sponsors to the plan and Sistel.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">According to PREVIC Ordinances No. 249/23 and No. 926/24, dated March 14, 2023 and November 8, 2024, and published in the Official Gazette on April 13, 2023 and November 14, 2024, respectively, Sistel approved distributions of part of its surplus, in the form of a special PBS-A reserve, with reversion of amounts to sponsors and improvement of benefits, in the form of temporary income, to beneficiaries. The Company's share in the distribution of this reserve was calculated at R$89,130 for the distribution approved in 2023 and R$114,852 for the distribution approved in 2024, with distributions expected in the form of 36 monthly payments, adjusted by the plan's income (Note 11).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">According to Ordinance No. 753 of the National Superintendency of Complementary Pensions (“PREVIC”), published in the Official Gazette on August 20, 2025, the distribution by Sistel of the PBS-A plan surpluses for the years 2022 and 2023 was approved, with the reversal of amounts to the sponsors and temporary additional income to the beneficiaries. The Company's share in the distribution of these surpluses was calculated at R$107,077, with distributions scheduled in the form of 36 monthly payments, adjusted by the plan's yield. The consolidated accounting effects of this distribution were: (i) R$107,077 in assets (surplus) of post-employment benefit plans (Note 11); (ii) R$70,671 in other comprehensive income (equity), net of taxes; and (iii) R$36,406 in income tax and social contribution payable (Note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">8.d</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Even considering the distribution of the reserve approved by PREVIC, PBS-A still has assets in excess of actuarial obligations as of December 31, 2025 and 2024. These surpluses were not recognized due to the lack of legal provision for their reimbursement and, as they are not a contributory plan, no deduction is possible in future contributions.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i0e60accbf27c449f97bb2bb829e5e607"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.2.2. CTB Plan</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Contributions to the CTB plan are determined based on actuarial valuations prepared by independent actuaries, in accordance with the rules in force in Brazil. The funding procedure is the capitalization method and the sponsor’s contribution are a fixed percentage of payroll of employees covered by the plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company also individually manages and sponsors the CTB plan, originally provided to former employees of CTB who were in the Company in 1977, with whom an individual retirement concession agreement was executed to encourage their resignation. This is an informal pension supplementation benefit paid to former employees directly by the Company. These plans are closed, and no other members are admitted.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ib1946a869ea741e1badad8f011b96d94"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.2.3. Telefônica DB Plan</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company individually sponsors the defined benefit retirement, Telefônica DB plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In order to improve allocation of Telefônica DB plan assets and analyze the coverage ratio of plan obligations in future years, a stochastic </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">Application Lifecycle Management (“ALM”)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> study was prepared by Visão Prev and Willis Towers Watson. This ALM study aimed at projecting the ratio between coverage of liabilities (solvency ratio) and the risk of mismatching measured by the standard deviation of the solvency ratio. The study concluded that the plan presents sustainable projection of their coverage ratio with the current investments’ portfolio.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At the time of the concession, a benefit is calculated which will be paid in a lifelong form and updated by inflation. This plan is not open to new accessions.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The contributions are defined according to the costing plan, which is calculated considering financial, demographic and economic hypotheses in order to accumulate enough resources to pay the benefits to the participants who are already receiving them, and to the new pensions.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i22223c74b0ae49fc811031c70ca10fe4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.2.4. VISÃO Plans</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Visão Telefônica and Visão Multi plans, due to their similarity, are now shown together under the name Visão.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries sponsor defined contribution plans with defined benefit components (hybrid plans) and pension benefits, the Visão plans, managed by Visão Prev. The contribution is attributed to each subsidiary in the economic and demographic proportion of its respective obligation to the plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The contributions made by the Company and subsidiaries related to defined contribution plans totaled </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$65,641</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and R$60,106 on December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The contributions to the Visão Telefônica and Visão Multi plans are: (i) basic and additional contribution, with contributions made by the participant and sponsor; and (ii) additional, sporadic and specific contribution, with contributions made only by the participant.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In addition, the participant has the possibility to choose one of five investment profiles to apply to their balance, and they are: Super Conservative, Conservative, Moderate, Aggressive and Aggressive Fixed Income Long-Term.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i60ba034ba9e0491396fb3987a4cd0a72"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3. Consolidated information on pension plans and other post-employment benefits</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i99a5a76c8b2e4cf88ac03c98d0cac55c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.1. Reconciliation of net liabilities (assets)</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.727%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.529%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Present value of DB plan obligations</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,556,624</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,954,418 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,548,742 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,503,160</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fair value of plan assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,971,714 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">846,635 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,818,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,158,617 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">885,337 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,043,954</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Net liabilities (assets)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(982,761)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">721,036</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(261,725)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,204,199)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">663,405</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(540,794)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Asset limitation</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">865,364 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">865,364</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,112,307 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(85,323)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(85,323)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(73,314)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(73,314)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(97,584)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(97,584)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(83,732)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(83,732)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,890 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">18,435 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">27,325</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,678 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">22,349 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31,027</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">56,620 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">702,601 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">759,221</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">56,476 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">641,056 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">697,532</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic225f30339804ecf8fe31b17d4c7e4e0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.2. Total expenses recognized in the statement of income</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.141%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Current service cost</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,836 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(78,414)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(76,578)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,037 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">15,806 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,843</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,747 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,378 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">11,125</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net interest on net actuarial assets/liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(11,101)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">70,454 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">59,353</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">71 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">91,769 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">91,840</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,903 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">68,825 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">74,728</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(9,265)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(7,960)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(17,225)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,108</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">107,575</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">109,683</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,650</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">78,203</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">85,853</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iece59bc146ed49cc9c41c96dc102dc90"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.3. Amounts recognized in other comprehensive income (loss)</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.141%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Actuarial losses (gains)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">279,120 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">77,882 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">357,002</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(73,304)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(425,490)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(498,794)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">352,011 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">352,974 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">704,985</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Asset limitation effect</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(373,341)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(373,341)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(56,647)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(56,647)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(431,071)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(126,032)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(557,103)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(94,221)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">77,882</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(16,339)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(129,951)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(425,490)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(555,441)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(79,060)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">226,942</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">147,882</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Income tax and social contribution levied on the total amounts recognized in other comprehensive income were:(i) in 2025: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$6,277</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, with </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$30,129</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in deferred income tax and social contribution and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$36,406</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in current income tax and social contribution (ii) in 2024: R$188,153, of which R$149,103 was deferred income tax and social contribution and R$39,050 was current income tax and social contribution; an (iii) in 2023: (R$48,925), of which (R$79,229) was deferred income tax and social contribution and R$30,304 was current income tax and social contribution.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ib3189b1d217846b9be39bdc3cbcb5ca7"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.4. Changes in amount net of liability (asset) of defined benefit, net</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Net defined benefit liability (asset) at the beginning of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(91,892)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">663,405</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">571,513</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">5,971</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">997,064</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,003,035</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(9,265)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(7,960)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(17,225)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,108 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">107,575 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">109,683</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sponsor contributions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(9,310)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13,453)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(22,763)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(9,588)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(15,744)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(25,332)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Amounts recognized in OCI</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(94,220)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">77,882 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(16,338)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(129,951)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(425,490)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(555,441)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Distribution of reserves</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">87,290 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,162 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">88,452</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">39,568 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">39,568</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Net defined benefit liability (asset) at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(117,397)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">721,036</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">603,639</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(91,892)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">663,405</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">571,513</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Actuarial assets per balance sheet</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(182,907)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(182,907)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(157,046)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(157,046)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Actuarial liabilities per balance sheet</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">65,510 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">721,036 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">786,546</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">65,154 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">663,405 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">728,559</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="icd176a8452a94220b21656c46dcec00b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.5. Changes in defined benefit liability</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Defined benefit liability at the beginning of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,954,418</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,548,742</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,503,160</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,167,726</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,917,650</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,085,376</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Current service costs</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,836 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(78,414)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(76,578)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,037 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,806 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">17,843</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest on actuarial liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">209,624 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">164,466 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">374,090</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">186,004 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">172,297 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">358,301</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Benefits paid </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(203,926)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(87,101)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(291,027)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(196,336)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(82,107)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(278,443)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Member contributions paid</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">233 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">233</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">182 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">182</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Actuarial losses (gains) adjusted by experience</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,910 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(27,572)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(25,662)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">94,337 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(67,734)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">26,603</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Actuarial losses (gains) adjusted by financial assumptions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,858 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">46,388 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(299,532)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(407,170)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(706,702)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Business combination</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,162 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,162</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Defined benefit liability at the end of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,988,953</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,567,671</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,556,624</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,954,418</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,548,742</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,503,160</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i3aad9d05a4194e8eb1ffcbae346a050f"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.6. Changes in the fair value of plan assets</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value of plan assets at the beginning of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,158,617</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">885,337</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,043,954</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,233,947</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">920,586</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,154,533</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Benefits paid</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(195,914)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(73,700)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(269,614)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(188,315)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(66,412)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(254,727)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Participants contributions paid</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">233 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">233</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">182 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">182</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sponsor contributions paid</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,297 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">52 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,566 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">49 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,615</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest income on plan assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">347,122 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">94,012 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">441,134</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">282,696 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">80,528 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">363,224</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Return on plan assets excluding interest income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(252,351)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(59,066)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(311,417)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(131,891)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(49,414)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(181,305)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Distribution of reserves</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(87,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(87,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(39,568)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(39,568)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value of plan assets at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,971,714</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">846,635</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,818,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,158,617</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">885,337</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,043,954</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ia93d790f79b94eb9bfb9693633149b0a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.7. Changes in asset limitation</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Asset Limitation at the beginning of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,072,192</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,072,192</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest on the asset limitation</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">126,398 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">126,398</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">96,762 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">96,762</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Changes in the assets limitation, except interest</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(373,341)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(373,341)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(56,647)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(56,647)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Asset Limitation at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">865,364</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">865,364</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i959bd93410474265a68ad301b48fb299"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.8. Results projected for 2026</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Current service cost</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,789 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,068 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">7,857</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Net interest on net defined benefit liability/asset</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13,578)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">77,642 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">64,064</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(11,789)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">83,710</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,921</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5e192216a45948329970eaba6db4f92e"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.9. Sponsoring company contributions projected for 2026</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sponsor contributions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,480 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,480</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Benefits paid directly by the sponsor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,890 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18,605 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">27,495</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,370</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,605</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">28,975</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ic75599b7fec942e48ebca391e675f0e5"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.10. Average weighted duration of defined benefit liability</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.773%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.391%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">In 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.8 years</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11.6 years</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">In 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.9 years</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11.8 years</span></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt"><span id="i80491aa1e2fe48cda48f2428b4597451"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.11. Actuarial assumptions</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.856%"><tr><td style="width:1.0%"></td><td style="width:31.849%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.849%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.852%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Discount rate to present value of defined benefit liability</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10.96% to 11.49%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10.79% to 10.96%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Future salary growth rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4.57% to 6.60%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Medical expense growth rate</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6.61%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Nominal annual adjustment rate of pension benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3.50%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Medical service eligibility age</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59 to 63 years</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated retirement age</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">57 to 60 years</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59 to 63 years</span></div></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Mortality table for nondisabled individuals</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">AT-2000 Basic segregated by gender, down-rated by 10% and 50%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">AT-2000 Basic segregated by gender, down-rated by 10%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Mortality table for disabled individuals</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">RP-2000 Disabled Male, down-rated by 60%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">RP-2000 Disabled Male, down-rated by 60%</span></div></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Disability table</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Light-Forte, Álvaro Vindas (down-rated by 50%) and Light-Fraca, down rated by 50%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Light-Forte</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover experience in VISÃO plans (2018 to 2022)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover experience in VISÃO plans (2020 to 2022)</span></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.856%"><tr><td style="width:1.0%"></td><td style="width:31.849%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.849%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.852%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Discount rate to present value of defined benefit liability</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11.07% to 11.67%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11.07% to 11.20%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Future salary growth rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4.57% to 6.60%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Medical expense growth rate</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6.61%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Nominal annual adjustment rate of pension benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3.50%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Medical service eligibility age</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59 to 63 years</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated retirement age</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">57 to 60 years</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59 to 63 years</span></div></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Mortality table for nondisabled individuals</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">AT-2000 Basic segregated by gender, down-rated by 10% and 50%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">AT-2000 Basic segregated by gender, down-rated by 10%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Mortality table for disabled individuals</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">RP-2000 Disabled Male, down-rated by 60%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">RP-2000 Disabled Male, down-rated by 60%</span></div></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Disability table</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Light-Forte, Álvaro Vindas (down-rated by 50%) and Light-Fraca, down rated by 50%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Light-Forte</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover experience in VISÃO plans (2018 to 2022)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover experience in VISÃO plans (2020 to 2022)</span></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In addition to the assumptions presented in the tables above, for 2025 and 2024 other assumptions common to all plans were adopted, as follows: (i) long-term inflation rate: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">3.50%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in 2025 and 2024; and (ii) annual increase in the use of medical services according to age: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">4.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in 2025 and 2024.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i9e27ab381d304ee7a9b1f21fe65ee568"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.12. Changes in actuarial assumptions in relation to the prior year</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In order to adjust some actuarial assumptions to the economic and demographic reality, a study was conducted for the plans administered by Visão Prev and Sistel, which adopted the definition of the assumptions in their Deliberative Councils.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main economic and financial assumptions that have changed in relation to the previous fiscal year and that interfere with the defined benefit liability are: (i) rates for discount to present value of the defined benefit liability; (ii) long-term inflation rate; (iii) rate of future wage growth; (iv) rate of growth of medical costs; and (v) annual nominal index of adjustment of social security benefits.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The impacts on the plans’ defined benefit liabilities due to the new definition of the actuarial assumptions are as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, based on current actuarial assumptions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,556,624 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, based on prior-year actuarial assumptions</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,964,095 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,521,283 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,485,378 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Difference from change in actuarial assumptions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">24,858</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">46,388</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5f677537a2aa4fa284751d5538977f9c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.13. Sensitivity analysis for actuarial assumptions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company believes that the significant actuarial assumptions with reasonable likelihood of variation due to financial and economic scenarios, which could significantly change the amount of the defined benefit obligation, are the discount rate used to adjust the defined benefit liability to present value and the rate of growth of medical costs.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present a sensitivity analysis on the defined benefit obligation for scenarios of a 0.5% increase and a 0.5% reduction in the discount rate used to adjust the defined benefit liability to present value.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, discounted to present value at current rate</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,556,624 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate increased by 0.5%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,934,970 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,488,710 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,423,680 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate decreased by 0.5%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,046,299 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,654,287 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,700,586 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present a sensitivity analysis on the defined benefit obligation for scenarios of a 1% increase and a 1% reduction in the medical cost growth rate used to adjust the defined benefit liability to present value.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, projected by the current medical cost growth rate</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,556,624 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate increased by 1%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,748,904 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,737,857 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate decreased by 1%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,415,154 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,404,107 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iaa62e8a1564343baaec07e8a63888adc"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.14. Allocation of plan assets</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Investments with market value quoted in active market:</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fixed income investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">National Treasury Note (NTN)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,363,931 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">840,454 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,204,385</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,417,123 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">850,897 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,268,020</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Treasury Financial Letter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">329,017 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,572 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">333,589</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">605,490 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12,041 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">617,531</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Repurchase operations</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">176,606 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">176,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,203 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,203</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12,478 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12,478</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,148 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,148</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial Letter</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,226 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,226</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,309 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,309</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">FIDC/CDB Quotas / Others</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,626 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">85 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,711</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,370 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,370</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">National Treasury Notes (LTN)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,524 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,524</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,629 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,399 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">27,028</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Variable income investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Investments linked to funds and market indexes</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,189 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,189</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,509 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,509</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Real estate investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">63,987 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">63,987</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">75,862 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">75,862</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans to participants</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,498 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,498</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,654 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">15,654</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Structured and overseas investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,156 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,156</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,320 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,320</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,971,714 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">846,635 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,818,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,158,617 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">885,337 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,043,954</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i376304e92fa446349dd2c9b9e955e009"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">31.a. Accounting policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries individually sponsor pension funds of post-retirement benefits for active and retired employees, in addition to a multisponsor supplementary retirement plan and health care plan for former employees. Contributions are determined on an actuarial basis and recorded on an accrual basis. Liabilities relating to defined benefit plans are determined based on actuarial evaluations at each year-end, in order to ensure that sufficient reserves have been set up for both current and future commitments.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries manage and individually sponsors a health care plan for retired employees and former employees with fixed contributions to the plan, in accordance with Law No. 9656/1998 (which provides for private health care and health insurance plans). As provided for in Articles 30 and 31 of said law, participants shall have the right to the health care plan in which they participated while they were active employees.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Actuarial liabilities related to defined benefit plans were calculated using the projected unit credit method. Actuarial gains and losses are recognized immediately in equity (in other comprehensive income).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For plans with defined contribution characteristics, the obligation is limited to the contributions payable, which are recognized in the P&amp;L in the respective accrual periods.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The asset or liability related to defined benefit plan to be recognized in the financial statements corresponds to the present value of the obligation for the defined benefit (using a discount rate based on long-term National Treasury Notes – “NTNs”), less the fair value of plan assets that will be used to settle the obligations. Plan assets are assets held by a privately held supplementary pension plan entity. Plan assets are not available to the Company’s creditors or those of its subsidiaries and cannot be paid directly to the Company or its subsidiaries. The fair value is based on information on market prices and, in the case of securities quoted, on the purchase price disclosed. The value of any defined benefit asset then recognized is limited to the present value of any economic benefits available as a reduction in future plan contribution from the Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Actuarial costs recognized in the statement of income are limited to the service cost and cost of interest on the defined benefit plan obligation. Any changes in the measurement of plan assets and obligations are initially recognized in other comprehensive income, and immediately reclassified to retained earnings in P&amp;L.</span></div> <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The plans sponsored by the Company and its subsidiaries and the related benefit types are as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:23.612%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.141%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:42.725%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plan</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Type</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Entity</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Sponsor</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">PBS-A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sistel</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil, jointly with other telecoms resulting from privatization of the Sistema Telebrás</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">PAMA / PCE</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Sistel</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil, jointly with other telecoms resulting from privatization of the Sistema Telebrás</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Healthcare – Law No. 9656/98</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil, Terra Networks, TGLog, TIS, CloudCo Brasil and FiBrasil</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CTB</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica BD</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined benefit (DB)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VisãoPrev</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VISÃO</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Defined contribution (DC) / Hybrid</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">VisãoPrev</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Telefônica Brasil, Terra Networks, TGLog, TIS, CloudCo Brasil, CyberCo Brasil and FiBrasil</span></td></tr></table></div> 105841000 24223000 13178000 68440000 89130000 114852000 36 107077000 36 107077000 70671000 36406000 65641000 60106000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.727%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.529%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Present value of DB plan obligations</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,556,624</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,954,418 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,548,742 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,503,160</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fair value of plan assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,971,714 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">846,635 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,818,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,158,617 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">885,337 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,043,954</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Net liabilities (assets)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(982,761)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">721,036</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(261,725)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,204,199)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">663,405</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(540,794)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Asset limitation</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">865,364 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">865,364</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,112,307 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(85,323)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(85,323)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(73,314)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(73,314)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(97,584)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(97,584)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(83,732)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(83,732)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,890 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">18,435 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">27,325</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">8,678 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">22,349 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31,027</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">56,620 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">702,601 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">759,221</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">56,476 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">641,056 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">697,532</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1988953000 1567671000 3556624000 1954418000 1548742000 3503160000 2971714000 846635000 -3818349000 3158617000 885337000 -4043954000 -982761000 721036000 -261725000 -1204199000 663405000 -540794000 865364000 0 865364000 1112307000 0 1112307000 85323000 0 85323000 73314000 0 73314000 97584000 0 97584000 83732000 0 83732000 8890000 18435000 27325000 8678000 22349000 31027000 56620000 702601000 759221000 56476000 641056000 697532000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.141%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Current service cost</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,836 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(78,414)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(76,578)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,037 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">15,806 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,843</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,747 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,378 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">11,125</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Net interest on net actuarial assets/liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(11,101)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">70,454 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">59,353</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">71 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">91,769 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">91,840</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">5,903 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">68,825 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">74,728</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(9,265)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(7,960)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(17,225)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,108</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">107,575</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">109,683</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,650</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">78,203</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">85,853</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1836000 78414000 76578000 2037000 15806000 17843000 1747000 9378000 11125000 -11101000 70454000 59353000 71000 91769000 91840000 5903000 68825000 74728000 -9265000 -7960000 -17225000 2108000 107575000 109683000 7650000 78203000 85853000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.141%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Actuarial losses (gains)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">279,120 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">77,882 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">357,002</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(73,304)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(425,490)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(498,794)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">352,011 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">352,974 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">704,985</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Asset limitation effect</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(373,341)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(373,341)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(56,647)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(56,647)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(431,071)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(126,032)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(557,103)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(94,221)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">77,882</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(16,339)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(129,951)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(425,490)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(555,441)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(79,060)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">226,942</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">147,882</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Income tax and social contribution levied on the total amounts recognized in other comprehensive income were:(i) in 2025: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$6,277</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, with </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$30,129</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in deferred income tax and social contribution and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$36,406</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in current income tax and social contribution (ii) in 2024: R$188,153, of which R$149,103 was deferred income tax and social contribution and R$39,050 was current income tax and social contribution; an (iii) in 2023: (R$48,925), of which (R$79,229) was deferred income tax and social contribution and R$30,304 was current income tax and social contribution.</span></div> 279120000 77882000 357002000 -73304000 -425490000 -498794000 352011000 352974000 704985000 -373341000 0 -373341000 -56647000 0 -56647000 -431071000 -126032000 -557103000 -94221000 77882000 -16339000 -129951000 -425490000 -555441000 -79060000 226942000 147882000 6277000 30129000 36406000 188153000 149103000 39050000 48925000 79229000 30304000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Net defined benefit liability (asset) at the beginning of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(91,892)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">663,405</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">571,513</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">5,971</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">997,064</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,003,035</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Expenses</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(9,265)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(7,960)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(17,225)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,108 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">107,575 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">109,683</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sponsor contributions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(9,310)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13,453)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(22,763)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(9,588)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(15,744)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(25,332)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Amounts recognized in OCI</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(94,220)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">77,882 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(16,338)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(129,951)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(425,490)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(555,441)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Distribution of reserves</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">87,290 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,162 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">88,452</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">39,568 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">39,568</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Net defined benefit liability (asset) at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(117,397)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">721,036</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">603,639</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(91,892)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">663,405</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">571,513</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Actuarial assets per balance sheet</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(182,907)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(182,907)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(157,046)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(157,046)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Actuarial liabilities per balance sheet</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">65,510 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">721,036 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">786,546</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">65,154 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">663,405 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">728,559</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> -91892000 663405000 571513000 5971000 997064000 1003035000 -9265000 -7960000 -17225000 2108000 107575000 109683000 -9310000 -13453000 -22763000 -9588000 -15744000 -25332000 -94220000 77882000 -16338000 -129951000 -425490000 -555441000 87290000 1162000 88452000 39568000 0 39568000 -117397000 721036000 603639000 -91892000 663405000 571513000 182907000 0 182907000 157046000 0 157046000 65510000 721036000 786546000 65154000 663405000 728559000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Defined benefit liability at the beginning of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,954,418</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,548,742</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,503,160</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,167,726</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,917,650</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,085,376</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Current service costs</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,836 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(78,414)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(76,578)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,037 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,806 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">17,843</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest on actuarial liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">209,624 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">164,466 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">374,090</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">186,004 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">172,297 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">358,301</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Benefits paid </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(203,926)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(87,101)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(291,027)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(196,336)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(82,107)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(278,443)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Member contributions paid</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">233 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">233</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">182 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">182</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Actuarial losses (gains) adjusted by experience</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,910 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(27,572)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(25,662)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">94,337 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(67,734)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">26,603</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Actuarial losses (gains) adjusted by financial assumptions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">24,858 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">46,388 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(299,532)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(407,170)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(706,702)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Business combination</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,162 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,162</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Defined benefit liability at the end of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,988,953</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,567,671</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,556,624</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,954,418</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,548,742</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,503,160</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1954418000 1548742000 3503160000 2167726000 1917650000 4085376000 1836000 78414000 -76578000 2037000 15806000 17843000 209624000 164466000 374090000 186004000 172297000 358301000 -203926000 87101000 -291027000 -196336000 -82107000 -278443000 233000 0 233000 182000 0 182000 1910000 -27572000 -25662000 94337000 -67734000 26603000 24858000 46388000 71246000 -299532000 -407170000 -706702000 0 1162000 1162000 0 0 0 1988953000 1567671000 3556624000 1954418000 1548742000 3503160000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value of plan assets at the beginning of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,158,617</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">885,337</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,043,954</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,233,947</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">920,586</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,154,533</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Benefits paid</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(195,914)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(73,700)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(269,614)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(188,315)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(66,412)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(254,727)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Participants contributions paid</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">233 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">233</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">182 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">182</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sponsor contributions paid</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,297 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">52 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,566 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">49 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,615</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest income on plan assets</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">347,122 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">94,012 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">441,134</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">282,696 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">80,528 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">363,224</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Return on plan assets excluding interest income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(252,351)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(59,066)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(311,417)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(131,891)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(49,414)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(181,305)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Distribution of reserves</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(87,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(87,290)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(39,568)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(39,568)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value of plan assets at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,971,714</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">846,635</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,818,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,158,617</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">885,337</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,043,954</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 3158617000 885337000 4043954000 3233947000 920586000 4154533000 -195914000 -73700000 -269614000 -188315000 -66412000 -254727000 233000 0 233000 182000 0 182000 1297000 52000 1349000 1566000 49000 1615000 347122000 94012000 441134000 282696000 80528000 363224000 -252351000 -59066000 -311417000 -131891000 -49414000 -181305000 -87290000 0 -87290000 -39568000 0 -39568000 2971714000 846635000 3818349000 3158617000 885337000 4043954000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Asset Limitation at the beginning of the year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,072,192</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,072,192</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Interest on the asset limitation</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">126,398 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">126,398</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">96,762 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">96,762</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Changes in the assets limitation, except interest</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(373,341)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(373,341)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(56,647)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(56,647)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Asset Limitation at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">865,364</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">865,364</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,112,307</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1112307000 0 1112307000 1072192000 0 1072192000 126398000 0 126398000 96762000 0 96762000 -373341000 0 -373341000 -56647000 0 -56647000 865364000 0 865364000 1112307000 0 1112307000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Current service cost</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,789 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,068 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">7,857</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Net interest on net defined benefit liability/asset</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(13,578)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">77,642 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">64,064</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 7pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(11,789)</span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">83,710</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,921</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1789000 6068000 7857000 -13578000 77642000 64064000 -11789000 83710000 71921000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sponsor contributions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,480 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,480</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Benefits paid directly by the sponsor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,890 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">18,605 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">27,495</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10,370</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,605</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">28,975</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1480000 0 1480000 8890000 18605000 27495000 10370000 18605000 28975000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:76.773%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.391%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">In 2025</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.8 years</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11.6 years</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">In 2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.9 years</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11.8 years</span></td></tr></table></div> P6Y9M18D P11Y7M6D P6Y10M24D P11Y9M18D <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.856%"><tr><td style="width:1.0%"></td><td style="width:31.849%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.849%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.852%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Discount rate to present value of defined benefit liability</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10.96% to 11.49%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10.79% to 10.96%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Future salary growth rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4.57% to 6.60%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Medical expense growth rate</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6.61%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Nominal annual adjustment rate of pension benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3.50%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Medical service eligibility age</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59 to 63 years</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated retirement age</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">57 to 60 years</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59 to 63 years</span></div></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Mortality table for nondisabled individuals</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">AT-2000 Basic segregated by gender, down-rated by 10% and 50%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">AT-2000 Basic segregated by gender, down-rated by 10%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Mortality table for disabled individuals</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">RP-2000 Disabled Male, down-rated by 60%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">RP-2000 Disabled Male, down-rated by 60%</span></div></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Disability table</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Light-Forte, Álvaro Vindas (down-rated by 50%) and Light-Fraca, down rated by 50%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Light-Forte</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover experience in VISÃO plans (2018 to 2022)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover experience in VISÃO plans (2020 to 2022)</span></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.856%"><tr><td style="width:1.0%"></td><td style="width:31.849%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.849%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.375%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:31.852%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:center;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Discount rate to present value of defined benefit liability</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11.07% to 11.67%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">11.07% to 11.20%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Future salary growth rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4.57% to 6.60%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Medical expense growth rate</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6.61%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Nominal annual adjustment rate of pension benefits</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3.50%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Medical service eligibility age</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">N/A</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59 to 63 years</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Estimated retirement age</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">57 to 60 years</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">59 to 63 years</span></div></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Mortality table for nondisabled individuals</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">AT-2000 Basic segregated by gender, down-rated by 10% and 50%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">AT-2000 Basic segregated by gender, down-rated by 10%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Mortality table for disabled individuals</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">RP-2000 Disabled Male, down-rated by 60%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">RP-2000 Disabled Male, down-rated by 60%</span></div></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Disability table</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Light-Forte, Álvaro Vindas (down-rated by 50%) and Light-Fraca, down rated by 50%</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Light-Forte</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover experience in VISÃO plans (2018 to 2022)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Turnover experience in VISÃO plans (2020 to 2022)</span></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In addition to the assumptions presented in the tables above, for 2025 and 2024 other assumptions common to all plans were adopted, as follows: (i) long-term inflation rate: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">3.50%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in 2025 and 2024; and (ii) annual increase in the use of medical services according to age: </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">4.0%</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> in 2025 and 2024.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i9e27ab381d304ee7a9b1f21fe65ee568"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.12. Changes in actuarial assumptions in relation to the prior year</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In order to adjust some actuarial assumptions to the economic and demographic reality, a study was conducted for the plans administered by Visão Prev and Sistel, which adopted the definition of the assumptions in their Deliberative Councils.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main economic and financial assumptions that have changed in relation to the previous fiscal year and that interfere with the defined benefit liability are: (i) rates for discount to present value of the defined benefit liability; (ii) long-term inflation rate; (iii) rate of future wage growth; (iv) rate of growth of medical costs; and (v) annual nominal index of adjustment of social security benefits.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The impacts on the plans’ defined benefit liabilities due to the new definition of the actuarial assumptions are as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, based on current actuarial assumptions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,556,624 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, based on prior-year actuarial assumptions</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,964,095 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,521,283 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,485,378 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Difference from change in actuarial assumptions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">24,858</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">46,388</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5f677537a2aa4fa284751d5538977f9c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.13. Sensitivity analysis for actuarial assumptions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company believes that the significant actuarial assumptions with reasonable likelihood of variation due to financial and economic scenarios, which could significantly change the amount of the defined benefit obligation, are the discount rate used to adjust the defined benefit liability to present value and the rate of growth of medical costs.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present a sensitivity analysis on the defined benefit obligation for scenarios of a 0.5% increase and a 0.5% reduction in the discount rate used to adjust the defined benefit liability to present value.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, discounted to present value at current rate</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,556,624 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate increased by 0.5%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,934,970 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,488,710 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,423,680 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate decreased by 0.5%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,046,299 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,654,287 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,700,586 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present a sensitivity analysis on the defined benefit obligation for scenarios of a 1% increase and a 1% reduction in the medical cost growth rate used to adjust the defined benefit liability to present value.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, projected by the current medical cost growth rate</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,556,624 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate increased by 1%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,748,904 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,737,857 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate decreased by 1%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,415,154 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,404,107 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iaa62e8a1564343baaec07e8a63888adc"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">31.c.3.14. Allocation of plan assets</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Investments with market value quoted in active market:</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fixed income investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">National Treasury Note (NTN)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,363,931 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">840,454 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,204,385</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,417,123 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">850,897 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,268,020</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Treasury Financial Letter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">329,017 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,572 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">333,589</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">605,490 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12,041 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">617,531</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Repurchase operations</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">176,606 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">176,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,203 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,203</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12,478 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12,478</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,148 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,148</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial Letter</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,226 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,226</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,309 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,309</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">FIDC/CDB Quotas / Others</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,626 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">85 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,711</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,370 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,370</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">National Treasury Notes (LTN)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,524 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,524</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,629 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,399 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">27,028</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Variable income investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Investments linked to funds and market indexes</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,189 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,189</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,509 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,509</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Real estate investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">63,987 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">63,987</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">75,862 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">75,862</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans to participants</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,498 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,498</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,654 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">15,654</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Structured and overseas investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,156 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,156</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,320 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,320</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,971,714 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">846,635 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,818,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,158,617 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">885,337 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,043,954</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> 0.1096 0.1149 0.1079 0.1096 0.0457 0.0660 0.0661 0.0350 P59Y P63Y P57Y P60Y P59Y P63Y 0.10 0.50 0.10 0.60 0.60 0.50 0.50 0.1107 0.1167 0.1107 0.1120 0.0457 0.0660 0.0661 0.0350 P59Y P63Y P57Y P60Y P59Y P63Y 0.10 0.50 0.10 0.60 0.60 0.50 0.50 0.0350 0.040 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, based on current actuarial assumptions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,556,624 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, based on prior-year actuarial assumptions</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,964,095 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,521,283 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,485,378 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Difference from change in actuarial assumptions</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">24,858</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">46,388</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">71,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> 1988953000 1567671000 3556624000 1964095000 1521283000 3485378000 24858000 46388000 71246000 0.005 0.005 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, discounted to present value at current rate</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,556,624 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate increased by 0.5%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,934,970 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,488,710 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,423,680 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate decreased by 0.5%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,046,299 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,654,287 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,700,586 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present a sensitivity analysis on the defined benefit obligation for scenarios of a 1% increase and a 1% reduction in the medical cost growth rate used to adjust the defined benefit liability to present value.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.710%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.392%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Defined benefit liability, projected by the current medical cost growth rate</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,567,671 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,556,624 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate increased by 1%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,748,904 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,737,857 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Considering a rate decreased by 1%</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,988,953 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,415,154 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,404,107 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 1988953000 1567671000 3556624000 1934970000 1488710000 3423680000 2046299000 1654287000 3700586000 0.01 0.01 1988953000 1567671000 3556624000 1988953000 1748904000 3737857000 1988953000 1415154000 3404107000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.520%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.396%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement pension plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Post-retirement health plans</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Investments with market value quoted in active market:</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fixed income investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">National Treasury Note (NTN)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,363,931 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">840,454 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,204,385</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,417,123 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">850,897 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,268,020</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Treasury Financial Letter</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">329,017 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,572 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">333,589</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">605,490 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12,041 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">617,531</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Repurchase operations</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">176,606 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">176,606</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,203 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,203</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">12,478 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12,478</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,148 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,148</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial Letter</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,226 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,226</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,309 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,309</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">FIDC/CDB Quotas / Others</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,626 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">85 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,711</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,370 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,370</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">National Treasury Notes (LTN)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,524 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,524</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,629 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">22,399 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">27,028</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Variable income investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Investments linked to funds and market indexes</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,189 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,189</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,509 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,509</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Real estate investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">63,987 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">63,987</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">75,862 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">75,862</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans to participants</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">14,498 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14,498</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,654 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">15,654</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Structured and overseas investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,156 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,156</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,320 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2,320</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,971,714 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">846,635 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3,818,349</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3,158,617 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">885,337 </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,043,954</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:3pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> 2363931000 840454000 3204385000 2417123000 850897000 3268020000 329017000 4572000 333589000 605490000 12041000 617531000 176606000 0 176606000 14203000 0 14203000 12478000 0 12478000 14148000 0 14148000 1226000 0 1226000 1309000 0 1309000 3626000 85000 3711000 3370000 0 3370000 0 1524000 1524000 4629000 22399000 27028000 4189000 0 4189000 4509000 0 4509000 63987000 0 63987000 75862000 0 75862000 14498000 0 14498000 15654000 0 15654000 2156000 0 2156000 2320000 0 2320000 2971714000 846635000 3818349000 3158617000 885337000 4043954000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i8b743e761ccb4467af5f88e68cad1086"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">32. FINANCIAL INSTRUMENTS AND RISK AND CAPITAL MANAGEMENT</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i10027f3d97fd437baf050c746238c256"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">32.a. Accounting policy</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iabd40d9280e845368699c109378fe9c1"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1. Financial assets</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifa29d65487ec47229cad961fbf69f3c1"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1.1. Initial recognition and measurement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On initial recognition, a financial asset is classified in the following measurement categories: (i) at fair value through profit or loss; (ii) at amortized cost; or (iii) at fair value through other comprehensive income, depending on the situation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The classification of financial assets at initial recognition depends on the contractual cash flow characteristics of the financial asset and the business model for the management of these assets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For a financial asset to be classified and measured at amortized cost or at fair value through other comprehensive income, it needs to generate cash flows that are “exclusively payments of principal and interest” on the principal amount outstanding. This assessment is carried out at the level of each financial instrument.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Financial assets with cash flows that are not exclusively payments of interest principal are classified and measured at fair value through profit or loss, regardless of the business model adopted.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's business model for managing financial assets refers to how it manages its financial assets to generate cash flows. The business model determines whether cash flows will result from the collection of contractual cash flows, the sale of financial assets or both. Financial assets classified and measured at amortized cost are maintained in a business plan with the objective of maintaining financial assets in order to obtain contractual cash flows while financial assets classified and measured at fair value against other comprehensive income are maintained in a business model. with the objective of obtaining contractual cash flows and for the purpose of sale.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's consolidated financial assets include cash and cash equivalents, financial investments, accounts receivable, derivative financial instruments, amounts receivable from the sale of properties and others and credits with related parties.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i1db9f34813f34cc3935ea21ce8f8ba1b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1.2. Subsequent measurement </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The subsequent measurement of financial assets depends on their classification, which may be as follows: (i) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">financial assets at fair value through profit or loss:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are subsequently measured at fair value. Net income, including interest, is recognized directly in profit or loss; (ii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">financial assets at amortized cost:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are subsequently measured at amortized cost using the effective interest method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired; and (iii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">financial assets at fair value through other comprehensive income:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are subsequently measured at fair value. Interest income, foreign exchange and impairment losses or reversals are recognized in the statement of income and calculated in the same manner as for financial assets measured at amortized cost. Remaining changes in fair value are recognized in other comprehensive income. At the time of derecognition, the cumulative change in fair value recognized in other comprehensive income is reclassified to profit or loss.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ibc22ad3b575b447d942f96a9f1dd6043"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1.3. Derecognition</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">A financial asset (or, whenever the case, a part of a financial asset, or a part of a group of similar financial assets) is derecognized when:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:31pt">the rights to receive the cash flows from the asset have expired; or </span></div><div style="margin-bottom:10pt;padding-left:35.43pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:31pt">the Company has transferred its rights to receive cash flows from it has assumed obligation to pay the received cash flows in full without material delay to a third part under a ‘pass-through’ arrangement; and either (i) the Company has transferred substantially all the risks and rewards of the asset, or (ii) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i350a155d577e4426b926e9d404985b29"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1.4. Impairment of financial assets</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries apply an impairment model for financial assets based on expected credit losses, using a simplified method for certain short and long-term assets (commercial receivables, lease receivables and contractual assets).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Under this simplified approach, credit impairment is recognized by reference to expected credit losses over the life of the asset. For this purpose, the Company and its subsidiaries use matrices based on historical bad debt experience by geographical area on a portfolio segmented by customer category according to credit pattern. The matrix for each category has a defined time horizon divided into intervals in accordance with the collection management policy and is fed with historical data that covers at least 24 collection cycles. This data is updated on a regular basis. Based on the information observable at each close, the Company and its subsidiaries assess the need to adjust the rates resulting from these matrices, considering current conditions and future economic forecasts.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i2947a23aa2aa42da993c73340581bd3e"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.2. Financial liabilities</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i14d32570560943e09dfc5a4d38734dc4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.2.1. Initial recognition and measurement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Upon initial recognition, a financial liability is classified into the following measurement categories: (i) at fair value through profit or loss; (ii) at amortized cost; or (iii) derivatives designated as hedge instruments in an effective hedge, as appropriate.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Financial liabilities are initially recognized at fair value plus, in the case of loans and financing, transaction cost directly attributable thereto.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company’s consolidated financial liabilities include accounts payable to suppliers, loans, financing, debentures, leases and other creditors, derivative financial instruments, obligations to ANATEL, amounts to be refunded to customers, capital reduction, reverse stock split and stock split, and obligations with related parties.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5ef0409e015e441ea29ac9cd69559bba"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.2.2. Subsequent measurement </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Measurement of financial liabilities depends on their classification, as follows: (i) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Financial liabilities at fair value through profit or loss</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: financial liabilities are designated at initial recognition at fair value through profit or loss. This category also includes derivative financial instruments contracted, except those designated as derivative financial instruments of cash flow hedge. Interest, monetary and exchange variations and changes arising from the valuation at fair value, when applicable, are recognized in the statement of income when incurred; and (ii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Financial liabilities at amortized cost</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: after initial recognition, loans and financing subject to interest are subsequently measured at amortized cost using the effective interest rate method. Gains and losses are recognized in the statement of income at the time of write-off of liabilities, as well as during the amortization process using the effective interest rate method.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Amortized cost is calculated taking into account any discount or goodwill on acquisition and fees or costs that are an integral part of the effective interest rate method. Amortization using the effective interest rate method is included as a financial expense in the income statement.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i6b71ebf1aa1444dbb5ee7648b391502c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.2.3. Derecognition</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">A financial liability is derecognized when the obligation has been revoked, cancelled or expired. When an existing financial liability is replaced by another of the same lender, and the terms of the instruments are substantially different, or when the terms of an existing debt instrument are substantially modified, this replacement or modification is treated as derecognition of the original liability and recognition of a new liability, and the difference in the corresponding carrying amounts is recognized in the statement of income.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i085e1b1c89804f879aedf7bfcbe243c9"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.3. Fair value measurement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. Fair value measurement is based on the assumption that the transaction to sell the asset or transfer the liability will take place (i) in the principal market for the asset or liability; or (ii) in the absence of a principal market, in the most advantageous market for that asset or liability. The Company and or its subsidiaries must have access to the principal (or most advantageous) market.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing an asset or liability, assuming that market participants act in their best economic interests.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Fair value measurement of a non-financial asset takes into consideration the capacity of a market participant to generate economic benefits through the best use of the asset or selling it to another market participant that would also make the best use of the asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries use adequate valuation techniques in the circumstances and for which there is sufficient data to measure the fair value, which maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair values of all assets and liabilities are classified within the fair value hierarchy described below, based on the lowest level of information that is significant to the fair value measurement as a whole: (i) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Level 1</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: quoted market prices (unadjusted) in active markets for identical assets or liabilities; (ii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Level 2</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: valuation techniques for which there is a significantly lower level of information to measure the fair value directly or indirectly observable; and (iii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Level 3</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: valuation techniques for which the lowest and significant level of information to measure the fair value is not available.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For assets and liabilities recognized in the financial statements on a recurring basis, the Company and its subsidiaries determine whether transfers have occurred between levels of the hierarchy, reassessing the categorization (based on information at the lowest and most significant level for measuring the fair value as a whole) to each year end.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries assessed their financial assets and liabilities in relation to market values using available information and appropriate valuation methodologies. Both the interpretation of market data and the selection of valuation methods require considerable judgment and reasonable estimates to produce the most adequate realization value. As a result, the estimates shown do not necessarily indicate amounts that could be realized in the current market. The use of different assumptions for the market and/or methodologies may have a material effect on estimated realization values. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In the years ended December 31, 2025 and 2024, there were no transfers of fair value assessments between the aforementioned levels.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i06db6e5254d84924bbce370cf3b6a574"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.4. Financial instruments – net </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Financial assets and liabilities are presented net in the balance sheet if, and only if, there is a current enforceable legal right to offset the amounts recognized and if there is an intention to offset or realize the asset or settle the liability simultaneously.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iffb5c1f127bb4db6af6266c9ac427c18"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.5. Derivative financial instruments and hedge accounting</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company uses derivative financial instruments, such as currency and interest rate swaps and currency forward contracts to provide protection against the risk of changes in exchange rates.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For hedge accounting purposes, they can be classified as: cash flow hedges and fair value hedges. The Company's contracts are classified as cash flow hedges when they provide protection against changes in cash flows that are attributable to a particular risk associated with a recognized liability that may affect the result, and fair value hedges when they provide protection against exposure to changes in the fair value of an identified portion of certain liabilities that are attributable to a particular risk (exchange rate variation) and may affect the result.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At the beginning of a hedge relationship, the Company formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the objective and risk management strategy for carrying out the hedge.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged, and how the Company assesses whether the hedging relationship meets the hedge effectiveness requirements (including its analysis of sources of hedge ineffectiveness and how to determine the hedge ratio). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: (i) there is an economic relationship between the hedged item and the hedging instrument; (ii) the effect of credit risk does not influence the changes in value that result from that economic relationship; and (iii) the hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the entity effectively hedges and the quantity of the hedging instrument that the Company effectively uses to hedge that quantity of the hedged item.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Any gains or losses resulting from changes in the fair value of derivative financial instruments during the period are recognized directly in the statement of income, except for the effective portion of cash flow hedges, which is recognized directly in equity in other comprehensive income and subsequently reclassified to profit or loss when the hedged item affects profit or loss.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ie755aa526d1f4212b837cbf19cae3a2a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.5.1. Cash flow hedges</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Cash flow hedges meeting the recording criteria are accounted for as follows: (i) the portion of gain or loss from the hedge instrument determined as an effective hedge shall be recognized directly in equity (other comprehensive income), and (ii) the ineffective portion of gain or loss from the hedge instrument shall be recognized in the statement of income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When the Company’s documented risk management strategy for any given hedge relationship excludes from the hedge effectiveness evaluation any particular component of gain or loss or the corresponding cash flows from the hedge instrument, that gains or loss component is recognized in financial income (expenses).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Amounts recorded in other comprehensive income are immediately transferred to the statement of income when the hedged transaction affects P&amp;L. When a hedged item is the cost of a non-financial asset or liability, amounts recorded in equity are transferred at the initial carrying amount of the non-financial assets and liabilities. In situations where the anticipated transaction is no longer expected, the accumulated gain or loss and deferred hedging costs, previously recognized in equity, are immediately reclassified to profit or loss in the income statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">If the hedging instrument expires or is sold, terminated or exercised without replacement or rollover (as part of the hedging strategy), or if its designation as a hedge is revoked, or when the hedge fails to meet the hedge accounting criteria, any cumulative gain or loss previously recognized in other comprehensive income remains separately in equity until the forecast transaction occurs or the firm commitment is fulfilled.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The migration from the STFC Concession regime to the private STFC Authorization regime (note 1.b) enabled the Company to begin replacing its copper cable network with a fiber optic network.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company maintains derivatives designated as cash flow hedges to protect future copper revenue projected for the next 24 months.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The hedge ratio at the initial date was 1:1. Considering changes in the value of the hedged item (copper price) and the value of derivative instruments used as hedging, the weighted average hedged rate for the year was R$66,923.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The hedge effects recognized in equity are transferred to profit or loss as the hedged revenue impacts financial performance.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main source of ineffectiveness is the risk of not extracting copper on the projected dates. There was no ineffectiveness during 2025 in relation to the cash flow hedge.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i03aa85e862044d1bb9d4cb345ad33635"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.5.2. Fair value hedges</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Fair value hedges meeting the accounting criteria are accounted for as follows: (i) gain or loss from changes in fair value of a hedge instrument shall be recognized in the statement of income as finance costs; and (ii) gain or loss from a hedged item attributable to the hedged risk shall adjust the recorded amount of the hedged item to be recognized in the statement of income, as finance costs. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For fair value hedges relating to items carried at amortised cost, any adjustments to carrying value are amortised through profit or loss over the remaining term of the hedge using the effective interest method. Amortisation of the effective interest rate may begin as soon as an adjustment occurs and, at the latest, when the hedged item ceases to be adjusted by changes in its fair value attributable to the hedged risk.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">If the hedged item is derecognized, the unamortized fair value is recognized immediately in the statement of income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When an unrecognized firm commitment is designated as a hedged item, the subsequent cumulative change in the fair value of the firm commitment attributable to the hedged risk is recognized as an asset or liability with a corresponding gain or loss recognized in profit and loss.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company does not hold any derivatives designated as fair value hedge accounting in its active portfolio.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5cee88d268e74f619a18b162f87fe2df"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.5.3. Classification between current and non-current</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Derivative financial instruments are classified as current and non-current or segregated into short and long-term portions based on an evaluation of the contractual cash flows.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When the Company maintains a derivative as an economic hedge (and does not apply hedge accounting), for a period exceeding 12 months after the balance sheet date, the derivative is classified as non-current (or segregated into current and non-current portions), in line with the classification of the corresponding item.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The derivative instrument is segregated into current and non-current portions only when amounts can be reliably allocated.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Derivative instruments that are designated as effective hedging instruments are classified consistently with the classification of the underlying hedged item.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i0636a02d5b2945d3a690978d48b458ec"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">32.b. Critical estimates and judgments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When the fair value of financial assets and liabilities stated in the balance sheet cannot be obtained in active markets, it will be determined using valuation techniques, including the discounted cash flow method. Data for these methods is based on those adopted in the market, whenever possible. However, when this is not feasible, a certain level of judgment is required for fair value determination. Judgment includes consideration of the inputs used, such as liquidity risk, credit risk and volatility. Changes in the assumptions about these factors could affect the reported fair value of financial instruments.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i8cfe9842df0645e8a81cbf02d41f43d0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">32.c. Derivative transactions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company enters into derivative financial instrument contracts with the primary objective of protecting itself against inflation risks in lease agreements indexed to the IPCA (Brazilian Consumer Price Index), as well as against exchange rate risks related to liabilities in foreign currency. Derivative instruments are not used for speculative purposes, and existing exchange rate risks are duly hedged.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Furthermore, the Company implemented a hedging program to mitigate cash flow volatility resulting from fluctuations in the price of copper. These operations were carried out through NDF contracts with monthly maturities until 2027, aiming to protect part of the projected sales volume. Considering the characteristics of these operations and their adherence to the requirements of the applicable standard, the Company adopted the hedge accounting methodology, in the cash flow hedge modality, for these operations (Note 32.a.5.1).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Management believes that the Company's internal controls for its derivatives are adequate to control risks associated with each strategy for the market. Gains/losses obtained or sustained by the Company in relation to its derivatives show that its risk management has been appropriate.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Whilst these derivative contracts qualify for hedge accounting, the hedged item is adjusted to fair value, offsetting the result of the derivatives, pursuant to the rules of hedge accounting. This hedge accounting applies both to financial liabilities and probable cash flows in foreign currency.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Derivatives contracts include specific penalties for breach of contract. Breach of contract provided for in agreements made with financial institutions leads to the anticipated liquidation of the contract.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025 and 2024, the Company held no embedded derivatives contracts.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="icde8de31e4bd466e963aca0c7f0d2e54"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.c.1. Fair value of derivative financial instruments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The valuation method used to calculate the fair value of financial liabilities (if applicable) and derivative financial instruments was the discounted cash flow method, based on expected settlements or realization of liabilities and assets at market rates prevailing at the balance sheet date. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair values of the positions in </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">Reais</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are calculated by projecting future inflows from transactions using B3 yield curves and discounting these flows to present value using market DI rates for swaps announced by B3.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The market values of foreign exchange derivatives were obtained using the market exchange rates in effect at the balance sheet date and projected market rates obtained from the currency's coupon-rate yield curves. The linear convention of 360 calendar days was used to determine coupon rates of positions indexed in foreign currencies, while the exponential convention of 252 business days was used to determine coupon rates for positions indexed to CDI rates.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Consolidated derivatives financial instruments shown below are registered with B3 and classified as swaps, usually, that do not require margin deposits.</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.152%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.266%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated effects from fair value</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notional Value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amount receivable (payable)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Description</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:120%">Swap contracts</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Assets position</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,945,120</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">899,522</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">118,083</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">104,300</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Foreign Currency</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">626,540</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">594,886</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,406</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,782</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">US$</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">509,245 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">493,087 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,406 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,526 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">EUR</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">117,295 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">101,799 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,256 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NDF US$</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Floating rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">221,461</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">259,259</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,938</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CDI</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">176,470 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">214,268 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,098 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Euribor</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">44,991 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">44,991 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,840 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Pre-rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,048,500</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NDF Copper(5)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,048,500 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Inflation rates</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">48,619</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">45,377</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">116,677</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">93,580</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IPCA</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">48,619 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">45,377 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">116,677 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">93,580 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Liabilities position</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,945,120)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(899,522)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(198,658)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(98,205)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Floating rate</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(720,150)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(685,254)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(122,069)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(97,353)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CDI</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(720,150)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(685,254)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(122,069)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(97,353)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Commodities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,048,500)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(72,868)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NDF Copper(5)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,048,500)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(72,868)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Foreign Currency</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(176,470)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(214,268)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,721)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(852)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">US$</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(154,230)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(214,268)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,434)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(852)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">EUR</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(22,240)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(287)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Long position </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,328</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">17,364</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,706 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,524 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,622 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,840 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Short position </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(96,903)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,269)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(53,044)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(866)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(43,859)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(10,403)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amounts receivable (payable), net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(80,575)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Foreign currency swap (euro and CDI x euro) (R$95,055) and (dollar and CDI x dollar) (R$355,055) – swap transactions contracted with maturities up to February 23, 2026, with the objective of protecting against exchange rate variation risks of net amounts payable (book value of R$1,664 payable and R$5,432 payable, respectively). </span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">IPCA x CDI Swap (R$48,619) – swap transactions contracted with maturities in 2033 with the objective of protecting against the risk of variation of the IPCA (book value of R$5,345 to receive).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Forward operations contracted (NDF dollar x R$), closed on December 11, 2025, had the objective of protecting against exchange rate variation risks of service contracts.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Swap Euribor x CDI (R$44,991) – swap transactions contracted with maturities in 2027 with the objective of protecting against the risk of Euribor variation (accounting value of R$5,956 to be payable)</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">NDF Copper x Pre (</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$1,048,500</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> - LME in Reais * Tons contracted) – Copper NDF transactions contracted to protect future sales revenues against variations in the price of copper on the LME relative to the Real. (book value </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$72,868</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> payable) The transaction is designated for cash flow hedging.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i677168f503af479aab0f2aa178c02fc5"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.c.2. Net changes of derivative financial instruments</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:69.302%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.974%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.276%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the beginning of the fiscal year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,415)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">137,956 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">34,285 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Receipts</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(43,164)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(92,079)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Effects on the financial result of fair value adjustments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(101,776)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">68,944 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Effects on equity of fair value adjustments</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(79,686)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,360 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(80,575)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="if849b63f6236449e8cc22cc80132e30e"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.c.3. Aging of derivative financial instruments (net)</span></div><div style="margin-bottom:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.354%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.122%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Maturing in</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Swap contract</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2027</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2028</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2029</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2030</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2031 onwards</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amount receivable (payable) on 12.31.2025</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IPCA x CDI</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,983 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,353 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,465 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,943 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,678 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(21,077)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,345 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Euribor x CDI</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,956)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,956)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Foreign currency x CDI</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,375)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,375)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NDF Copper x Pre</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(44,225)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(28,643)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(72,868)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CDI x Foreign Currency</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,721)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,721)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(45,338)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(29,246)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,465</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,943</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,678</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(21,077)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(80,575)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the preparation of these financial statements, the Company adopts the fair value measurement methodology for foreign currency x CDI and IPCA x CDI swaps used to hedge financial debts. In this approach, only the derivative instruments are measured at fair value, while the related financial debts remain recorded at amortized cost.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Additionally, in copper NDF transactions, the Company applies a cash flow hedging strategy. Changes in the fair value of these derivatives are recorded in Other Comprehensive Income and, as sales are realized, are reclassified to "Other Operating Income, net" in the income statement.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, and 2024, the derivatives financial instruments generated net results consolidated of negative </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$101,776</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> and positive </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$69,008</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">, respectively (<a href="#id3769a98ed7749859e6a4b26ba5f4eb7_364" style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:none">Note</a> 28.). </span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i987c0b2fcb56438988ceed7c888ed4f7"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.c.4. Sensitivity analysis of the Company's risk variables</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Publicly-held companies must disclose a sensitivity analysis table for each type of market risk considered relevant by Management, arising from financial instruments, to which the entity is exposed at the closing date of each period, including all operations with derivative financial instruments.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Each financial instrument derivative transaction was assessed, and assumptions included a probable base scenario and a further two stressed scenarios that could adversely impact the Company. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the probable base scenario, at the maturity dates for each of the transactions, the market rates sourced from B3 yield curves (currencies and interest rates) were used plus data from the IBGE, Central Bank, FGV, among others. In the probable scenario, there is no impact on the fair value of the above-mentioned derivatives. For scenarios II and III, as per the CVM rule, risk variables were stressed by 25% and 50%, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Since the Company only holds derivatives to hedge its foreign currency assets and liabilities, other scenarios are not applicable. For these transactions, the Company reported the consolidated net exposure in each of the above-mentioned three scenarios on December 31, 2025.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:34.532%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.468%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.404%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Company / Consolidated</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Transaction </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Risk</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Probable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25% depreciation</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50% depreciation</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (assets position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (depreciation risk EUR)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">141,493 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">176,866 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">212,239 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payables in EUR</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt (appreciation risk EUR)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(140,174)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(175,217)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(210,260)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Receivables in EUR</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt (depreciation risk EUR)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">869 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,086 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,304 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,188</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,735</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,283</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (assets position)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (depreciation risk US$)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">351,379 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">439,224 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">527,069 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payables in US$</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt (appreciation risk US$)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(432,197)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(540,246)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(648,296)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Receivables in US$</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt (depreciation risk US$)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">79,236 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99,045 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">118,854 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,582)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,977)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,373)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Copper Hedge (liabilities position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (High Copper Risk)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(72,868)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(91,084)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(136,627)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Future Copper Revenue</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debts (Risk of a fall in copper prices)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">72,868 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">91,084 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">136,627 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (assets position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (Risk of IPCA fall)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37,528 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25,925 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">16,072 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt indexed to the IPCA (Brazilian inflation index)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debts (Risk of increased inflation)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(37,528)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(25,925)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(16,072)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (active position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (Risk of Euribor drop)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,956 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,445 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,168 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt in Euribor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debts (Risk of Euribor increase)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,956)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,445)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(11,168)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (CDI position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge US$ and EUR (liabilities position)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (risk of decrease in CDI)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,721 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,728 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,737 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge IPCA (liabilities position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (risk of increase in CDI)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(32,183)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(40,228)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(48,274)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(28,462)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(36,500)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(44,537)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total net exposure in each scenario</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(27,856)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(35,742)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(43,627)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net effect on changes in current fair value</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(7,886)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(15,771)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair values shown in the table above are based on the portfolio position on December 31, 2025, but do not contemplate other changes to market variables which are constantly monitored by the Company. The use of different assumptions could significantly affect the estimates.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For calculation of the net exposure for the sensitivity analysis, all derivatives were considered at market value and hedged items designated for hedges for accounting purposes were also considered at fair value.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The assumptions used by the Company for the sensitivity analysis on December 31, 2025, were as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.265%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Risk Variable</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Probable</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25% depreciation</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50% depreciation</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">US$</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5.50 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.88 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8.25 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">EUR</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.47 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8.09 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9.70 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IPCA</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4.87</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.12</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7.39</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IGPM</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.05</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.31</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.58</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CDI</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">14.90</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">18.63</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">22.35</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Euribor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.96</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.46</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.95</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Price of Copper (Ton) - US$</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,504 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,630 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">18,756 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i262ce9917a21404dbe5e99fd3ebc69c2"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">32.d. Classification of financial assets and liabilities by category and fair value hierarchy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For the purposes of disclosing fair value, the Company and its subsidiaries determined classes of assets and liabilities based on the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the composition and classification of financial assets and liabilities as of December 31, 2025 and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.693%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Book value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Classification by category</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value hierarchy</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial Assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents (Note 3.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,032,339 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,691,098 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,032,339 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,691,098 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial investments (Note 4.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts receivable (Note 5.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,619,617 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,471,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,619,617 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,471,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,706 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,524 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,706 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,524 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sale of real estate and other receivables (Note 11.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">192,472 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">134,963 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">192,472 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">134,963 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Related-party receivables (Note 11.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">26,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">72,641 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">26,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">72,641 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial investments (Note 4.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,619 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,619 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts receivable (Note 5.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">283,502 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">370,149 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">283,502 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">370,149 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,622 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,840 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,622 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,840 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sale of real estate and other receivables (Note 11.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">280,619 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">120,354 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">280,619 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">120,354 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Related-party receivables (Note 11.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">154 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">154 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total financial assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,591,758</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">16,963,539</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,591,758</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">16,963,539</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial Liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts payable, net (Note 17.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,861,294 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,230,624 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,861,294 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,230,624 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and financing(Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,200 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">232,118 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,200 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">232,118 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases (Note 21.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,883,176 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,520,626 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,883,176 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,520,626 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures (Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">161,453 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,695,214 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">161,453 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,695,214 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,449 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">866 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,449 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">866 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">47,595 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">47,595 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities with ANATEL (Note 23.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">83,558 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">146,844 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">83,558 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">146,844 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Reduction of capital of the Company (Note 22)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">91,093 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">91,093 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Reverse stock split and stock split (Note 23.a)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">824,723 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">824,723 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Amounts to be refunded to customers (Note 23.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">108,166 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">126,867 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">108,166 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">126,867 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities with related parties (Note 23.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">138,026 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">133,290 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">138,026 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">133,290 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and financing(Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,474 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,572,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,474 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,572,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases (Note 21.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,549,678 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,725,980 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,549,678 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,725,980 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures (Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,905,512 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,000,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,905,512 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,000,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">43,859 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,403 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">43,859 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,403 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities with ANATEL (Note 23.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">911,899 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">892,648 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">911,899 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">892,648 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities with related parties (Note 23.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">602 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">638 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">602 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">638 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total financial liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">30,619,757</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">31,327,431</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">30,619,757</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">31,327,431</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%;text-decoration:underline">Classification by category</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%;padding-left:9.12pt">Amortized cost</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%;padding-left:9.12pt">Measured at fair value through profit or loss</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%;padding-left:9.12pt">Measured at fair value through OCI</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ib3b413513c0c4e0fa0873b762245f7f8"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">32.e. Capital management</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The purpose of the Company's capital management is to ensure maintenance of a high credit rating and an optimal capital ratio to support the Company's business and maximize shareholder value.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company manages its capital structure by making adjustments and adapting to current economic conditions. In seeking such equilibrium, the Company may pay dividends, obtain new loans, issue debentures and contract derivatives. For the year ended December 31, 2025, there were no changes in capital structure objectives, policies or processes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company includes in the net debt structure the balances of loans, financing, debentures, leases, and other creditors and derivative financial instruments, net of cash and cash equivalents, financial investments (FIDC Vivo Pay and SCD), and accounts receivable from credit rights (FIDC Vivo Pay).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company’s ratio of consolidated debt to shareholders’ equity consists of the following:</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.750%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.402%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,032,339 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,691,098 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial investments </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accounts receivable – FIDC Vivo Pay (net of estimated losses)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">187,142 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">205,832 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing, debentures, leases and other creditors, net of judicial deposit (2024)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(20,346,681)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(20,705,984)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivative transactions, net</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(80,575)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,095 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net debt</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(13,108,673)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(13,802,959)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net equity</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69,002,726 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69,799,495 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net debt-to-equity ratio</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19.78</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr></table></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i6c5c545586174f069eb56b78b5c7b2fc"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">32.f. Risk management policy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries are exposed to several market risks as a result of its commercial operations, debts contracted to finance its activities and debt-related financial instruments.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i8cce76e0475c4cbba84670bff3966bca"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.f.1. Currency Risk</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company is exposed to the foreign exchange risk for financial assets and liabilities denominated in foreign currencies, which may reduce receivables or increase payables depending on the exchange rate in the period. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Hedging transactions were executed to minimize the risks associated with exchange rate changes on financial assets and liabilities in foreign currencies. This balance is subject to daily changes due to the dynamics of the business. However, the Company intends to cover the net balance of these assets and obligations (US$64,147 thousand, €21,529 thousand and £5 thousand paid by December 31, 2025, and US$40,295 thousand, €15,988 thousand and £71 thousand paid by December 31, 2024) to mitigate its foreign exchange risks. </span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i9528382439d5441797eb27b18b30465c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.f.2. Interest and Inflation Risk</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">This risk may arise from an unfavorable change in the domestic interest rate, which may adversely affect financial expenses from the portion of debentures referenced to the CDI and liability positions in derivatives (currency hedge and IPCA) pegged to floating interest rates (CDI).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">To reduce exposure to the floating interest rate (CDI), the Company and its subsidiaries invested cash equivalents of R$6,945,770 and R$6,542,862 on December 31, 2025, and 2024, respectively, mostly in short-term CDI-based financial investments (CDBs). The carrying amounts of these instruments approximate their fair values, as they may be redeemed in the short term.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i1e05eca4bf6a4a3aacc31dae7d1ecce7"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.f.3. Liquidity Risk </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Liquidity risk consists of the possibility that the Company might not have sufficient funds to meet its commitments due to the different timing and settlement terms of its rights and obligations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company structures the maturities of financial instruments so as not to affect their liquidity.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's cash flow and liquidity are managed on a daily basis by the operating departments to ensure that cash flows and contracted funding, when necessary, are sufficient to meet scheduled commitments in to mitigate liquidity risk.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The maturity profile of consolidated financial liabilities includes future principal and interest amounts up to the maturity date. For fixed rate liabilities, interest was calculated based on the indices established in each contract. For floating rate liabilities, interest was calculated based on the market forecast for each period.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In order to minimize liquidity risk and ensure compliance with obligations, the Company's cash investment policy prioritizes instruments indexed to the CDI (post-fixed rate), with daily liquidity and counterparties whose credit rating and/or balance scorecard indicate low credit risk. In addition, the investment policy establishes diversification limits for counterparties, which provides greater confidence in the Company's ability to honor its payment commitments.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ia000e8b133784decba0ac4c7cdb4cf38"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.f.4. Credit Risk</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The credit risk arises from the possibility that the Company may incur losses resulting from the difficulty in receiving billed amounts related to the provision of services and the sale of handsets and equipment to its B2C and B2B customers, in addition to the sale of handsets and pre-activated prepaid cards to the distributor network.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Credit risk with accounts receivable is diversified and minimized through strict control of the customer base and constant risk analysis. The Company constantly monitors the level of accounts receivable and limits the risk of overdue accounts by cutting off access to the telephone line if the invoice is past due. For the prepaid mobile customer base, which requires advance loading, there is no credit risk. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Credit risk on sales of pre-activated prepaid handsets and cards is managed through a prudent policy for granting credit, using modern credit scoring methods, analyzing financial statements and consultations to commercial databases, in addition to requesting guarantees. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries are also subject to credit risk arising from their investments, letters of guarantee received as collateral for certain transactions and receivables from derivative transactions. The Company and its subsidiaries control the credit limits granted to each counterpart and diversify this exposure across first-tier financial institutions as per current credit ratings of financial counterparties.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i7de23cdc84fc421ab4aa53f3fa74047d"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.f.5. Exchange rate and commodity risk</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company is exposed to exchange rate fluctuations linked to commodity risk arising from future revenue from copper sales, since both the international price of the metal and the exchange rate of the foreign currency can impact the amount to be received. Adverse variations in these markets can reduce revenue in reais and increase the volatility of results.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">To mitigate these risks, hedging operations with financial derivatives were contracted, designed to simultaneously protect against currency exposure and exposure to the price of copper. These operations aim to maintain greater predictability in the project's cash flow and minimize the impacts of market fluctuations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The amount covered, corresponding to 16 thousand tons, is adjusted according to the dynamics of projected sales and the evolution of market conditions, ensuring continuous alignment between the protected volume and the Company's effective exposure.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ie5e8ee63fd5f438e9c1b99be3a4345b2"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.f.6. Insurance Coverage</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The policy of the Company and its subsidiaries, as well as the Telefónica Group, is to contract insurance coverage for all significant assets and liabilities of high-risk based on Management's judgment and following Telefónica corporate program guidelines.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, the maximum limits of claims (established pursuant to the agreements of each entity consolidated by the Company) for significant assets, liabilities or interests covered by insurance and their respective total </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$900,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> for operational risks (including business interruption) and </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">R$75,000</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> for general civil liability.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's Management considers the insurance coverage to be sufficient to cover any possible claims.</span></div> <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i10027f3d97fd437baf050c746238c256"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">32.a. Accounting policy</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iabd40d9280e845368699c109378fe9c1"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1. Financial assets</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ifa29d65487ec47229cad961fbf69f3c1"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1.1. Initial recognition and measurement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On initial recognition, a financial asset is classified in the following measurement categories: (i) at fair value through profit or loss; (ii) at amortized cost; or (iii) at fair value through other comprehensive income, depending on the situation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The classification of financial assets at initial recognition depends on the contractual cash flow characteristics of the financial asset and the business model for the management of these assets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For a financial asset to be classified and measured at amortized cost or at fair value through other comprehensive income, it needs to generate cash flows that are “exclusively payments of principal and interest” on the principal amount outstanding. This assessment is carried out at the level of each financial instrument.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Financial assets with cash flows that are not exclusively payments of interest principal are classified and measured at fair value through profit or loss, regardless of the business model adopted.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's business model for managing financial assets refers to how it manages its financial assets to generate cash flows. The business model determines whether cash flows will result from the collection of contractual cash flows, the sale of financial assets or both. Financial assets classified and measured at amortized cost are maintained in a business plan with the objective of maintaining financial assets in order to obtain contractual cash flows while financial assets classified and measured at fair value against other comprehensive income are maintained in a business model. with the objective of obtaining contractual cash flows and for the purpose of sale.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's consolidated financial assets include cash and cash equivalents, financial investments, accounts receivable, derivative financial instruments, amounts receivable from the sale of properties and others and credits with related parties.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i1db9f34813f34cc3935ea21ce8f8ba1b"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1.2. Subsequent measurement </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The subsequent measurement of financial assets depends on their classification, which may be as follows: (i) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">financial assets at fair value through profit or loss:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are subsequently measured at fair value. Net income, including interest, is recognized directly in profit or loss; (ii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">financial assets at amortized cost:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are subsequently measured at amortized cost using the effective interest method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired; and (iii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">financial assets at fair value through other comprehensive income:</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%"> are subsequently measured at fair value. Interest income, foreign exchange and impairment losses or reversals are recognized in the statement of income and calculated in the same manner as for financial assets measured at amortized cost. Remaining changes in fair value are recognized in other comprehensive income. At the time of derecognition, the cumulative change in fair value recognized in other comprehensive income is reclassified to profit or loss.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ibc22ad3b575b447d942f96a9f1dd6043"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1.3. Derecognition</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">A financial asset (or, whenever the case, a part of a financial asset, or a part of a group of similar financial assets) is derecognized when:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:31pt">the rights to receive the cash flows from the asset have expired; or </span></div><div style="margin-bottom:10pt;padding-left:35.43pt;text-align:justify;text-indent:-36pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">•</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;padding-left:31pt">the Company has transferred its rights to receive cash flows from it has assumed obligation to pay the received cash flows in full without material delay to a third part under a ‘pass-through’ arrangement; and either (i) the Company has transferred substantially all the risks and rewards of the asset, or (ii) the Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i350a155d577e4426b926e9d404985b29"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.1.4. Impairment of financial assets</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries apply an impairment model for financial assets based on expected credit losses, using a simplified method for certain short and long-term assets (commercial receivables, lease receivables and contractual assets).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Under this simplified approach, credit impairment is recognized by reference to expected credit losses over the life of the asset. For this purpose, the Company and its subsidiaries use matrices based on historical bad debt experience by geographical area on a portfolio segmented by customer category according to credit pattern. The matrix for each category has a defined time horizon divided into intervals in accordance with the collection management policy and is fed with historical data that covers at least 24 collection cycles. This data is updated on a regular basis. Based on the information observable at each close, the Company and its subsidiaries assess the need to adjust the rates resulting from these matrices, considering current conditions and future economic forecasts.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i2947a23aa2aa42da993c73340581bd3e"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.2. Financial liabilities</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i14d32570560943e09dfc5a4d38734dc4"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.2.1. Initial recognition and measurement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Upon initial recognition, a financial liability is classified into the following measurement categories: (i) at fair value through profit or loss; (ii) at amortized cost; or (iii) derivatives designated as hedge instruments in an effective hedge, as appropriate.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Financial liabilities are initially recognized at fair value plus, in the case of loans and financing, transaction cost directly attributable thereto.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company’s consolidated financial liabilities include accounts payable to suppliers, loans, financing, debentures, leases and other creditors, derivative financial instruments, obligations to ANATEL, amounts to be refunded to customers, capital reduction, reverse stock split and stock split, and obligations with related parties.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5ef0409e015e441ea29ac9cd69559bba"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.2.2. Subsequent measurement </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Measurement of financial liabilities depends on their classification, as follows: (i) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Financial liabilities at fair value through profit or loss</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: financial liabilities are designated at initial recognition at fair value through profit or loss. This category also includes derivative financial instruments contracted, except those designated as derivative financial instruments of cash flow hedge. Interest, monetary and exchange variations and changes arising from the valuation at fair value, when applicable, are recognized in the statement of income when incurred; and (ii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Financial liabilities at amortized cost</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: after initial recognition, loans and financing subject to interest are subsequently measured at amortized cost using the effective interest rate method. Gains and losses are recognized in the statement of income at the time of write-off of liabilities, as well as during the amortization process using the effective interest rate method.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Amortized cost is calculated taking into account any discount or goodwill on acquisition and fees or costs that are an integral part of the effective interest rate method. Amortization using the effective interest rate method is included as a financial expense in the income statement.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i6b71ebf1aa1444dbb5ee7648b391502c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.2.3. Derecognition</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">A financial liability is derecognized when the obligation has been revoked, cancelled or expired. When an existing financial liability is replaced by another of the same lender, and the terms of the instruments are substantially different, or when the terms of an existing debt instrument are substantially modified, this replacement or modification is treated as derecognition of the original liability and recognition of a new liability, and the difference in the corresponding carrying amounts is recognized in the statement of income.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i085e1b1c89804f879aedf7bfcbe243c9"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.3. Fair value measurement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. Fair value measurement is based on the assumption that the transaction to sell the asset or transfer the liability will take place (i) in the principal market for the asset or liability; or (ii) in the absence of a principal market, in the most advantageous market for that asset or liability. The Company and or its subsidiaries must have access to the principal (or most advantageous) market.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing an asset or liability, assuming that market participants act in their best economic interests.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Fair value measurement of a non-financial asset takes into consideration the capacity of a market participant to generate economic benefits through the best use of the asset or selling it to another market participant that would also make the best use of the asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries use adequate valuation techniques in the circumstances and for which there is sufficient data to measure the fair value, which maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The fair values of all assets and liabilities are classified within the fair value hierarchy described below, based on the lowest level of information that is significant to the fair value measurement as a whole: (i) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Level 1</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: quoted market prices (unadjusted) in active markets for identical assets or liabilities; (ii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Level 2</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: valuation techniques for which there is a significantly lower level of information to measure the fair value directly or indirectly observable; and (iii) </span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%;text-decoration:underline">Level 3</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">: valuation techniques for which the lowest and significant level of information to measure the fair value is not available.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For assets and liabilities recognized in the financial statements on a recurring basis, the Company and its subsidiaries determine whether transfers have occurred between levels of the hierarchy, reassessing the categorization (based on information at the lowest and most significant level for measuring the fair value as a whole) to each year end.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company and its subsidiaries assessed their financial assets and liabilities in relation to market values using available information and appropriate valuation methodologies. Both the interpretation of market data and the selection of valuation methods require considerable judgment and reasonable estimates to produce the most adequate realization value. As a result, the estimates shown do not necessarily indicate amounts that could be realized in the current market. The use of different assumptions for the market and/or methodologies may have a material effect on estimated realization values. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In the years ended December 31, 2025 and 2024, there were no transfers of fair value assessments between the aforementioned levels.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i06db6e5254d84924bbce370cf3b6a574"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.4. Financial instruments – net </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Financial assets and liabilities are presented net in the balance sheet if, and only if, there is a current enforceable legal right to offset the amounts recognized and if there is an intention to offset or realize the asset or settle the liability simultaneously.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="iffb5c1f127bb4db6af6266c9ac427c18"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.5. Derivative financial instruments and hedge accounting</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company uses derivative financial instruments, such as currency and interest rate swaps and currency forward contracts to provide protection against the risk of changes in exchange rates.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For hedge accounting purposes, they can be classified as: cash flow hedges and fair value hedges. The Company's contracts are classified as cash flow hedges when they provide protection against changes in cash flows that are attributable to a particular risk associated with a recognized liability that may affect the result, and fair value hedges when they provide protection against exposure to changes in the fair value of an identified portion of certain liabilities that are attributable to a particular risk (exchange rate variation) and may affect the result.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">At the beginning of a hedge relationship, the Company formally designates and documents the hedge relationship to which it wishes to apply hedge accounting and the objective and risk management strategy for carrying out the hedge.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The documentation includes identification of the hedging instrument, the hedged item, the nature of the risk being hedged, and how the Company assesses whether the hedging relationship meets the hedge effectiveness requirements (including its analysis of sources of hedge ineffectiveness and how to determine the hedge ratio). A hedging relationship qualifies for hedge accounting if it meets all of the following effectiveness requirements: (i) there is an economic relationship between the hedged item and the hedging instrument; (ii) the effect of credit risk does not influence the changes in value that result from that economic relationship; and (iii) the hedge ratio of the hedging relationship is the same as that resulting from the quantity of the hedged item that the entity effectively hedges and the quantity of the hedging instrument that the Company effectively uses to hedge that quantity of the hedged item.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Any gains or losses resulting from changes in the fair value of derivative financial instruments during the period are recognized directly in the statement of income, except for the effective portion of cash flow hedges, which is recognized directly in equity in other comprehensive income and subsequently reclassified to profit or loss when the hedged item affects profit or loss.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ie755aa526d1f4212b837cbf19cae3a2a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.5.1. Cash flow hedges</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Cash flow hedges meeting the recording criteria are accounted for as follows: (i) the portion of gain or loss from the hedge instrument determined as an effective hedge shall be recognized directly in equity (other comprehensive income), and (ii) the ineffective portion of gain or loss from the hedge instrument shall be recognized in the statement of income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When the Company’s documented risk management strategy for any given hedge relationship excludes from the hedge effectiveness evaluation any particular component of gain or loss or the corresponding cash flows from the hedge instrument, that gains or loss component is recognized in financial income (expenses).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Amounts recorded in other comprehensive income are immediately transferred to the statement of income when the hedged transaction affects P&amp;L. When a hedged item is the cost of a non-financial asset or liability, amounts recorded in equity are transferred at the initial carrying amount of the non-financial assets and liabilities. In situations where the anticipated transaction is no longer expected, the accumulated gain or loss and deferred hedging costs, previously recognized in equity, are immediately reclassified to profit or loss in the income statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">If the hedging instrument expires or is sold, terminated or exercised without replacement or rollover (as part of the hedging strategy), or if its designation as a hedge is revoked, or when the hedge fails to meet the hedge accounting criteria, any cumulative gain or loss previously recognized in other comprehensive income remains separately in equity until the forecast transaction occurs or the firm commitment is fulfilled.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The migration from the STFC Concession regime to the private STFC Authorization regime (note 1.b) enabled the Company to begin replacing its copper cable network with a fiber optic network.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company maintains derivatives designated as cash flow hedges to protect future copper revenue projected for the next 24 months.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The hedge ratio at the initial date was 1:1. Considering changes in the value of the hedged item (copper price) and the value of derivative instruments used as hedging, the weighted average hedged rate for the year was R$66,923.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The hedge effects recognized in equity are transferred to profit or loss as the hedged revenue impacts financial performance.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The main source of ineffectiveness is the risk of not extracting copper on the projected dates. There was no ineffectiveness during 2025 in relation to the cash flow hedge.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i03aa85e862044d1bb9d4cb345ad33635"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.5.2. Fair value hedges</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Fair value hedges meeting the accounting criteria are accounted for as follows: (i) gain or loss from changes in fair value of a hedge instrument shall be recognized in the statement of income as finance costs; and (ii) gain or loss from a hedged item attributable to the hedged risk shall adjust the recorded amount of the hedged item to be recognized in the statement of income, as finance costs. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">For fair value hedges relating to items carried at amortised cost, any adjustments to carrying value are amortised through profit or loss over the remaining term of the hedge using the effective interest method. Amortisation of the effective interest rate may begin as soon as an adjustment occurs and, at the latest, when the hedged item ceases to be adjusted by changes in its fair value attributable to the hedged risk.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">If the hedged item is derecognized, the unamortized fair value is recognized immediately in the statement of income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When an unrecognized firm commitment is designated as a hedged item, the subsequent cumulative change in the fair value of the firm commitment attributable to the hedged risk is recognized as an asset or liability with a corresponding gain or loss recognized in profit and loss.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company does not hold any derivatives designated as fair value hedge accounting in its active portfolio.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i5cee88d268e74f619a18b162f87fe2df"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:140%">32.a.5.3. Classification between current and non-current</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Derivative financial instruments are classified as current and non-current or segregated into short and long-term portions based on an evaluation of the contractual cash flows.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">When the Company maintains a derivative as an economic hedge (and does not apply hedge accounting), for a period exceeding 12 months after the balance sheet date, the derivative is classified as non-current (or segregated into current and non-current portions), in line with the classification of the corresponding item.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The derivative instrument is segregated into current and non-current portions only when amounts can be reliably allocated.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Derivative instruments that are designated as effective hedging instruments are classified consistently with the classification of the underlying hedged item.</span></div> 24 0 66923000 P12M 0 P360D P252D <div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:43.152%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.266%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated effects from fair value</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Notional Value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amount receivable (payable)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Description</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:120%">Swap contracts</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Assets position</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,945,120</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">899,522</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">118,083</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">104,300</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Foreign Currency</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">626,540</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">594,886</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,406</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,782</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">US$</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">509,245 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">493,087 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,406 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,526 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">EUR</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">117,295 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">101,799 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,256 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NDF US$</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Floating rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">221,461</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">259,259</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,938</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CDI</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">176,470 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">214,268 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,098 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Euribor</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">44,991 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">44,991 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,840 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Pre-rate</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,048,500</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NDF Copper(5)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,048,500 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Inflation rates</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">48,619</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">45,377</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">116,677</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">93,580</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IPCA</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">48,619 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">45,377 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">116,677 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">93,580 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Liabilities position</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,945,120)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(899,522)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(198,658)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(98,205)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Floating rate</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(720,150)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(685,254)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(122,069)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(97,353)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CDI</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(720,150)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(685,254)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(122,069)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(97,353)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Commodities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,048,500)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(72,868)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NDF Copper(5)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1,048,500)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(72,868)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%;text-decoration:underline">Foreign Currency</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(176,470)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(214,268)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,721)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(852)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">US$</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(154,230)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(214,268)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,434)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(852)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:4.5pt;text-indent:-4.5pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">EUR</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(22,240)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(287)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Long position </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,328</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">17,364</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,706 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,524 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8,622 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,840 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Short position </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(96,903)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,269)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(53,044)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(866)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13.19pt;text-align:left;text-indent:-3.69pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(43,859)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(10,403)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amounts receivable (payable), net</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(80,575)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Foreign currency swap (euro and CDI x euro) (R$95,055) and (dollar and CDI x dollar) (R$355,055) – swap transactions contracted with maturities up to February 23, 2026, with the objective of protecting against exchange rate variation risks of net amounts payable (book value of R$1,664 payable and R$5,432 payable, respectively). </span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">IPCA x CDI Swap (R$48,619) – swap transactions contracted with maturities in 2033 with the objective of protecting against the risk of variation of the IPCA (book value of R$5,345 to receive).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Forward operations contracted (NDF dollar x R$), closed on December 11, 2025, had the objective of protecting against exchange rate variation risks of service contracts.</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(4)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Swap Euribor x CDI (R$44,991) – swap transactions contracted with maturities in 2027 with the objective of protecting against the risk of Euribor variation (accounting value of R$5,956 to be payable)</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(5)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">NDF Copper x Pre (</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$1,048,500</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> - LME in Reais * Tons contracted) – Copper NDF transactions contracted to protect future sales revenues against variations in the price of copper on the LME relative to the Real. (book value </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">R$72,868</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> payable) The transaction is designated for cash flow hedging.</span></div> 1945120000 899522000 118083000 104300000 626540000 594886000 1406000 7782000 509245000 493087000 1406000 6526000 117295000 101799000 1256000 221461000 259259000 2938000 176470000 214268000 1098000 44991000 44991000 1840000 1048500000 1048500000 48619000 45377000 116677000 93580000 48619000 45377000 116677000 93580000 -1945120000 -899522000 -198658000 -98205000 -720150000 -685254000 -122069000 -97353000 -720150000 -685254000 -122069000 -97353000 -1048500000 -72868000 -1048500000 -72868000 -176470000 -214268000 -3721000 -852000 -154230000 -214268000 -3434000 -852000 22240000 -287000 16328000 17364000 7706000 15524000 8622000 1840000 -96903000 -11269000 -53044000 -866000 -43859000 -10403000 -80575000 6095000 95055000 355055000 1664000 5432000 48619000 5345000 44991000 5956000 1048500000 72868000 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:69.302%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.974%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.276%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the beginning of the fiscal year</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,415)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">137,956 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">34,285 </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Receipts</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(43,164)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(92,079)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Effects on the financial result of fair value adjustments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(101,776)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">68,944 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Effects on equity of fair value adjustments</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(79,686)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,360 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balance at the end of the year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(80,575)</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:top"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,095</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:top"></td></tr></table></div> 6095000 -9415000 137956000 34285000 -43164000 -92079000 -101776000 68944000 -79686000 4360000 -80575000 6095000 <div style="margin-bottom:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:28.354%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.122%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="33" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Maturing in</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Swap contract</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2027</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2028</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2029</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2030</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2031 onwards</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Amount receivable (payable) on 12.31.2025</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IPCA x CDI</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,983 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,353 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,465 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,943 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4,678 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(21,077)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,345 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Euribor x CDI</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,956)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,956)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Foreign currency x CDI</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,375)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,375)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NDF Copper x Pre</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(44,225)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(28,643)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(72,868)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CDI x Foreign Currency</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,721)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,721)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(45,338)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(29,246)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,465</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,943</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,678</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(21,077)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(80,575)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 5983000 5353000 5465000 4943000 4678000 -21077000 5345000 -5956000 -5956000 -3375000 -3375000 -44225000 -28643000 -72868000 -3721000 -3721000 -45338000 -29246000 5465000 4943000 4678000 -21077000 -80575000 101776000 69008000 0.25 0.50 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:34.532%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.468%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.404%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Company / Consolidated</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Transaction </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Risk</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Probable</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25% depreciation</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50% depreciation</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (assets position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (depreciation risk EUR)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">141,493 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">176,866 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">212,239 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payables in EUR</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt (appreciation risk EUR)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(140,174)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(175,217)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(210,260)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Receivables in EUR</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt (depreciation risk EUR)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">869 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,086 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,304 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,188</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,735</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,283</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (assets position)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (depreciation risk US$)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">351,379 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">439,224 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">527,069 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payables in US$</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt (appreciation risk US$)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(432,197)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(540,246)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(648,296)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Receivables in US$</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt (depreciation risk US$)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">79,236 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99,045 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">118,854 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,582)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,977)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,373)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Copper Hedge (liabilities position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (High Copper Risk)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(72,868)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(91,084)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(136,627)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Future Copper Revenue</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debts (Risk of a fall in copper prices)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">72,868 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">91,084 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">136,627 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (assets position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (Risk of IPCA fall)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">37,528 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">25,925 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">16,072 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt indexed to the IPCA (Brazilian inflation index)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt 0 5.5pt;text-indent:-4.5pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debts (Risk of increased inflation)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(37,528)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(25,925)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(16,072)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (active position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (Risk of Euribor drop)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,956 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,445 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">11,168 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debt in Euribor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debts (Risk of Euribor increase)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,956)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,445)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(11,168)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge (CDI position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge US$ and EUR (liabilities position)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (risk of decrease in CDI)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,721 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,728 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,737 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 13pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Hedge IPCA (liabilities position)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivatives (risk of increase in CDI)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(32,183)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(40,228)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(48,274)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net Exposure</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(28,462)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(36,500)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(44,537)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total net exposure in each scenario</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(27,856)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(35,742)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(43,627)</span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net effect on changes in current fair value</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(7,886)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(15,771)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 141493000 176866000 212239000 -140174000 -175217000 -210260000 869000 1086000 1304000 2188000 2735000 3283000 351379000 439224000 527069000 -432197000 -540246000 -648296000 79236000 99045000 118854000 -1582000 -1977000 -2373000 -72868000 -91084000 -136627000 72868000 91084000 136627000 0 0 0 37528000 25925000 16072000 -37528000 -25925000 -16072000 0 0 0 5956000 7445000 11168000 -5956000 -7445000 -11168000 0 0 0 3721000 3728000 3737000 -32183000 -40228000 -48274000 -28462000 -36500000 -44537000 -27856000 -35742000 -43627000 0 -7886000 -15771000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The assumptions used by the Company for the sensitivity analysis on December 31, 2025, were as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.089%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.262%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.265%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Risk Variable</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Probable</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25% depreciation</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50% depreciation</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">US$</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5.50 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.88 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8.25 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">EUR</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.47 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">8.09 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9.70 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IPCA</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4.87</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6.12</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7.39</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IGPM</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.05</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.31</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.58</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">CDI</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">14.90</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">18.63</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">22.35</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Euribor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1.96</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.46</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2.95</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">%</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Price of Copper (Ton) - US$</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">12,504 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,630 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">18,756 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div> 5500 6880 8250 6470 8090.00 9700 0.0487 0.0612 0.0739 0.0105 0.0131 0.0158 0.1490 0.1863 0.2235 0.0196 0.0246 0.0295 12504000 15630000 18756000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Below, we present the composition and classification of financial assets and liabilities as of December 31, 2025 and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:37.693%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.526%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.533%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Book value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Classification by category</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Fair value hierarchy</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial Assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Cash and cash equivalents (Note 3.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,032,339 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,691,098 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,032,339 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">6,691,098 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial investments (Note 4.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts receivable (Note 5.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,619,617 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,471,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,619,617 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,471,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,706 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,524 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">7,706 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">15,524 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sale of real estate and other receivables (Note 11.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">192,472 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">134,963 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">192,472 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">134,963 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Related-party receivables (Note 11.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">26,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">72,641 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">26,317 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">72,641 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Financial investments (Note 4.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,619 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,619 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts receivable (Note 5.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">283,502 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">370,149 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">283,502 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">370,149 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,622 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,840 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,622 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,840 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Sale of real estate and other receivables (Note 11.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">280,619 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">120,354 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">280,619 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">120,354 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Related-party receivables (Note 11.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">154 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">154 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">42,759 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total financial assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,591,758</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">16,963,539</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18,591,758</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">16,963,539</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;border-top:2pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Financial Liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Current </span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Trade accounts payable, net (Note 17.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,861,294 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,230,624 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,861,294 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">9,230,624 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and financing(Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,200 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">232,118 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,200 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">232,118 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases (Note 21.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,883,176 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,520,626 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,883,176 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4,520,626 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures (Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">161,453 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,695,214 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">161,453 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,695,214 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,449 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">866 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">5,449 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">866 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">3</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">47,595 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">47,595 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities with ANATEL (Note 23.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">83,558 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">146,844 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">83,558 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">146,844 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Reduction of capital of the Company (Note 22)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">91,093 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">91,093 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Reverse stock split and stock split (Note 23.a)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">824,723 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">824,723 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Amounts to be refunded to customers (Note 23.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">108,166 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">126,867 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">108,166 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">126,867 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities with related parties (Note 23.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">138,026 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">133,290 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">138,026 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">133,290 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Loans and financing(Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,474 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,572,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,474 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,572,592 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Leases (Note 21.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,549,678 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,725,980 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,549,678 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,725,980 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Debentures (Note 21.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,905,512 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,000,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,905,512 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2,000,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Derivative transactions (Note 32.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Level 2</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">43,859 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,403 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">43,859 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">10,403 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities with ANATEL (Note 23.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">911,899 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">892,648 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">911,899 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">892,648 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">Liabilities with related parties (Note 23.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">602 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">638 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">602 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%">638 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total financial liabilities</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">30,619,757</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">31,327,431</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">30,619,757</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:700;line-height:120%">31,327,431</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%;text-decoration:underline">Classification by category</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%;padding-left:9.12pt">Amortized cost</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%;padding-left:9.12pt">Measured at fair value through profit or loss</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%">(3)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:140%;padding-left:9.12pt">Measured at fair value through OCI</span></div> 7032339000 6691098000 7032339000 6691098000 99102000 99102000 10619617000 9471592000 10619617000 9471592000 7706000 15524000 7706000 15524000 192472000 134963000 192472000 134963000 26317000 72641000 26317000 72641000 41308000 42619000 41308000 42619000 283502000 370149000 283502000 370149000 8622000 1840000 8622000 1840000 280619000 120354000 280619000 120354000 154000 42759000 154000 42759000 18591758000 16963539000 18591758000 16963539000 9861294000 9230624000 9861294000 9230624000 2200000 232118000 2200000 232118000 4883176000 4520626000 4883176000 4520626000 161453000 1695214000 161453000 1695214000 5449000 866000 5449000 866000 47595000 47595000 83558000 146844000 83558000 146844000 91093000 38721000 91093000 38721000 824723000 824723000 108166000 126867000 108166000 126867000 138026000 133290000 138026000 133290000 1474000 1572592000 1474000 1572592000 10549678000 10725980000 10549678000 10725980000 2905512000 2000000000 2905512000 2000000000 43859000 10403000 43859000 10403000 911899000 892648000 911899000 892648000 602000 638000 602000 638000 30619757000 31327431000 30619757000 31327431000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company’s ratio of consolidated debt to shareholders’ equity consists of the following:</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:72.750%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.402%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">7,032,339 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,691,098 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial investments </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">99,102 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accounts receivable – FIDC Vivo Pay (net of estimated losses)</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">187,142 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">205,832 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Loans and financing, debentures, leases and other creditors, net of judicial deposit (2024)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(20,346,681)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(20,705,984)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Derivative transactions, net</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(80,575)</span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">6,095 </span></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net debt</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(13,108,673)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(13,802,959)</span></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net equity</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69,002,726 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69,799,495 </span></td><td style="background-color:#f2f2f2;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net debt-to-equity ratio</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19.00</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19.78</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">%</span></td></tr></table></div> 7032339000 6691098000 99102000 187142000 205832000 20346681000 20705984000 -80575000 6095000 -13108673000 -13802959000 69002726000 69799495000 0.1900 0.1978 64147000 21529000 5000 40295000 15988000 71000 6945770000 6542862000 900000000 75000000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="ib5c9d0800b7a4ca7899c9e887e49d346"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">33. Additional Information on Cash Flows</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The following is a reconciliation of the consolidated cash flow financing activities for the year ended December 31, 2025, and 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.716%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.095%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cash flows from financing activities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cash flows from operating activities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financing activities not involving cash and cash equivalents</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on 12.31.2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Additions</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Write-offs (payments)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Write-offs (payments)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial charges, fair value, monetary and exchange rate updates, write-offs and reversals</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Additions (cancellations) of leases contracts</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Business combination</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Interim and unclaimed dividends and interest on equity </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on 12.31.2025</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Interim dividends and interest on equity</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,237,090 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,187,402)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,724,856 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,774,544 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,804,710 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">20,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(409,993)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(88,041)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">189,508 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">273,568 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">57,110 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,846,862 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Leases</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">15,246,606 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,322,031)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,756,359)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,703,845 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,478,260 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">82,533 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">15,432,854 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,695,214 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,500,000)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(464,355)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">431,942 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">904,164 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,066,965 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Reverse stock split and stock split</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">949,354 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(124,631)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">824,723 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Reduction of the Company's capital</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,947,628)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,000,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">91,093 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Derivative financial instruments</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,095)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(87,220)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(7,572)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">181,462 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">80,575 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,016,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">969,354</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(9,578,905)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,316,327)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,506,757</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,751,828</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,043,807</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,724,856</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">24,117,616</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.147%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.664%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cash flows from financing activities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cash flows from operating activities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financing activities not involving cash and cash equivalents</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on 12.31.2023</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Additions</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Write-offs (payments)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Write-offs (payments)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial charges, fair value, monetary and exchange rate updates, write-offs and reversals</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Additions (cancellations) of leases contracts</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Business combination</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Interim and unclaimed dividends and interest on equity </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on 12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Interim dividends and interest on equity</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,247,884 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,532,399)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,521,605 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,237,090 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,419,599 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">83,084 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(413,494)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(34,406)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">95,918 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">484,654 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">169,355 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,804,710 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Leases</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">13,596,039 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,081,545)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,600,192)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,630,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,701,311 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">15,246,606 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,721,589 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(443,423)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">417,048 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,695,214 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Reduction of the Company's capital</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,461,279)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,500,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Derivative financial instruments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,415 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">54,331 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,463 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(73,304)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,095)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20,994,526</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">83,084</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(7,434,386)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,074,558)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,070,655</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,185,965</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">169,355</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,021,605</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,016,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.716%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.095%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cash flows from financing activities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cash flows from operating activities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financing activities not involving cash and cash equivalents</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on 12.31.2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Additions</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Write-offs (payments)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Write-offs (payments)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial charges, fair value, monetary and exchange rate updates, write-offs and reversals</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Additions (cancellations) of leases contracts</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Business combination</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Interim and unclaimed dividends and interest on equity </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on 12.31.2025</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Interim dividends and interest on equity</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,237,090 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,187,402)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,724,856 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,774,544 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,804,710 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">20,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(409,993)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(88,041)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">189,508 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">273,568 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">57,110 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,846,862 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Leases</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">15,246,606 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,322,031)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,756,359)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,703,845 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,478,260 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">82,533 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">15,432,854 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,695,214 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,500,000)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(464,355)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">431,942 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">904,164 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,066,965 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Reverse stock split and stock split</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">949,354 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(124,631)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">824,723 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Reduction of the Company's capital</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,947,628)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,000,000 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">91,093 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Derivative financial instruments</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,095)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(87,220)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(7,572)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">181,462 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">80,575 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,016,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">969,354</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(9,578,905)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,316,327)</span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,506,757</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,751,828</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,043,807</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,724,856</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">24,117,616</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:17.147%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.664%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:7.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cash flows from financing activities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cash flows from operating activities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financing activities not involving cash and cash equivalents</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on 12.31.2023</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Additions</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Write-offs (payments)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Write-offs (payments)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Financial charges, fair value, monetary and exchange rate updates, write-offs and reversals</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Additions (cancellations) of leases contracts</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Business combination</span></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Interim and unclaimed dividends and interest on equity </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Balance on 12.31.2024</span></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Interim dividends and interest on equity</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,247,884 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2,532,399)</span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,521,605 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,237,090 </span></td><td style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,419,599 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">83,084 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(413,494)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(34,406)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">95,918 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">484,654 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">169,355 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,804,710 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Leases</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">13,596,039 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(3,081,545)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,600,192)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,630,993 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">4,701,311 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">15,246,606 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,721,589 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(443,423)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">417,048 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,695,214 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Reduction of the Company's capital</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1,461,279)</span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">1,500,000 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">38,721 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Derivative financial instruments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">9,415 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">54,331 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,463 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(73,304)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(6,095)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20,994,526</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">83,084</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(7,434,386)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,074,558)</span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,070,655</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,185,965</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">169,355</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,021,605</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,016,246</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div> 2237090000 0 -2187402000 0 0 0 0 2724856000 2774544000 1804710000 20000000 -409993000 -88041000 189508000 273568000 57110000 0 1846862000 15246606000 0 -3322031000 -1756359000 1703845000 3478260000 82533000 0 15432854000 3695214000 0 -1500000000 -464355000 431942000 0 904164000 0 3066965000 0 949354000 -124631000 0 0 0 0 0 824723000 38721000 0 -1947628000 0 0 0 0 2000000000 91093000 -6095000 0 -87220000 -7572000 181462000 0 0 0 80575000 23016246000 969354000 -9578905000 -2316327000 2506757000 3751828000 1043807000 4724856000 24117616000 2247884000 0 -2532399000 0 0 0 0 2521605000 2237090000 1419599000 83084000 -413494000 -34406000 95918000 484654000 169355000 0 1804710000 13596039000 0 -3081545000 -1600192000 1630993000 4701311000 0 0 15246606000 3721589000 0 0 -443423000 417048000 0 0 0 3695214000 0 0 -1461279000 0 0 0 0 1500000000 38721000 9415000 0 54331000 3463000 -73304000 0 0 0 -6095000 20994526000 83084000 -7434386000 -2074558000 2070655000 5185965000 169355000 4021605000 23016246000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i8193ebd4dc0444169af8520d02c1f301"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">34. Contractual Commitments</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i6c57c95218064a8bb40a9b851603f5c9_668"></span><span id="i9d2a7152371c40fea690a220a8f1210c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">34.a. Contractual Commitments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company has unrecognized contractual commitments arising from the purchase of goods and services, which mature on several dates, with monthly payments.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, the total consolidated nominal values equivalent to the full contract period were:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Year</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">938,432 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">838,722 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2028</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">860,588 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2029</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">840,328 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2030</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">360,794 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2031 onwards</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,574,467 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,413,331</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes R$1,181,762, referring to contracts for the provision of security services with Telefónica Cybersecurity Tech, S.L.U. (“CyberCo”) and its subsidiaries, companies of the Telefónica Group.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i8f18d59c9ad74b2dbe33c510c307c9df"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">34.b. Guarantees</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, the Company had guarantees for several commitments with ANATEL, suppliers and legal proceedings:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Insurance of guarantee(1)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30,925,675 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Letters of guarantee(2)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,884,006 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Judicial deposits and garnishments (Note 10.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,964,318 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Property and equipment (Note 13.f.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,675 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial investments in guarantee of lawsuits (Note 4.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">43,824,982</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">They refer to insurance amounts contracted to ensure the continuity of the discussion of legal proceedings (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">19</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> R$4 bil</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">lion was contracted related to the Self-Composition Agreement for the Adaptation of STFC Concession Contracts.</span></div> <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, the total consolidated nominal values equivalent to the full contract period were:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Year</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eeefef;border-top:0.5pt solid #000;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2026</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">938,432 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2027</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">838,722 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2028</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">860,588 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2029</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">840,328 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2030</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">360,794 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2031 onwards</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,574,467 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,413,331</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#eeefef;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes R$1,181,762, referring to contracts for the provision of security services with Telefónica Cybersecurity Tech, S.L.U. (“CyberCo”) and its subsidiaries, companies of the Telefónica Group.</span></div> 938432000 838722000 860588000 840328000 360794000 1574467000 5413331000 1181762000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On December 31, 2025, the Company had guarantees for several commitments with ANATEL, suppliers and legal proceedings:</span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:84.963%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.374%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Insurance of guarantee(1)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">30,925,675 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Letters of guarantee(2)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,884,006 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Judicial deposits and garnishments (Note 10.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,964,318 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Property and equipment (Note 13.f.)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,675 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#eeefef;padding:2px 1pt 2px 5.5pt;text-align:left;text-indent:-4.5pt;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Financial investments in guarantee of lawsuits (Note 4.)</span></td><td colspan="3" style="background-color:#eeefef;padding:0 1pt"></td><td colspan="2" style="background-color:#eeefef;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%">41,308 </span></td><td style="background-color:#eeefef;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:700;line-height:120%">43,824,982</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></td><td style="background-color:#ffffff;border-bottom:2pt double #000;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:19.827%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #00497f;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">They refer to insurance amounts contracted to ensure the continuity of the discussion of legal proceedings (note </span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">19</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">).</span></div><div style="margin-bottom:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%;padding-left:11.35pt">Includes</span><span style="background-color:#ffffff;color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> R$4 bil</span><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:6pt;font-weight:400;line-height:120%">lion was contracted related to the Self-Composition Agreement for the Adaptation of STFC Concession Contracts.</span></div> 30925675000 9884006000 2964318000 9675000 41308000 43824982000 <div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i4fdc7118ad62455b9b0b626a3f4e991c"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">35. Other matters</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="ib45c2011d5c548c08994f60c4a5696f8"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">35.a. Environmental Risks</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company's operations and properties are subject to various environmental laws and regulations that govern environmental licenses and registrations, protection of fauna and flora, atmospheric emissions, waste management and remediation of contaminated areas, among others. If the Company or its business partners are unable to comply with current and future legal requirements, or identify and manage new or existing environmental liabilities, it will have to incur significant costs, which include investigation and remediation costs, indemnities, compensation, adjustment of conduct, fines, suspension of activities and other penalties, investments to improve facilities or change operations, in addition to damage to the Company's reputation in the market.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The identification of new relevant environmental issues, changes in assessment criteria by regulatory agencies, entry into force of more restrictive laws and regulations or other unforeseen events may result in significant environmental liabilities and their respective costs. The occurrence of any of these factors could have a material adverse effect on the Company's business, results of operations and financial condition. According to article 75 of Law No. 9,605/1998, the maximum fine for non-compliance with the environmental law is R$50,000 plus losses related to embargoes or administrative sanctions, in addition to indemnities and repairs for damages caused to the environment.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Climate change poses a number of potential systemic risks (environmental, financial and socioeconomic) to telecommunications operators, such as the Company, from both a regulatory and physical perspective. Increased intensity and frequency of extreme events, such as storms, cyclones, floods, fires and heat waves, may damage, suspend or interrupt the Company’s transmission operations for an indefinite period. Should a succession of extreme weather events occur, the Company may not have sufficient resources to repair its infrastructure in a timely and cost-effective manner.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">In a quantitative analysis, it is noted that the increase in temperature directly affects the operating conditions of the Company's network equipment, which can cause failures, accelerated wear and loss of assets and, therefore, increase the probability of service interruptions, generating reputational and financial risks. For this reason, cooling the equipment is essential to ensure the proper operation of the Company. In more serious cases, the risk of fires can also increase. As a result, global warming can increase our demands for cooling and energy use, increasing our operating costs.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The telecommunications sector is not particularly dependent on fossil fuels, but it is dependent on electricity consumption for its networks, so variations in electricity prices are sensitive to the sector and can have a significant impact on the Company's operating expenses related to energy. The estimated economic impact of this risk classifies it as substantive, on the horizon of 2030.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">To manage climate risks, the Company performs diagnostics on physical and transition risks, promotes energy efficiency programs and renewable energy and distributed energy generation plans, in addition to having a dedicated business continuity area, guided by the Global Business Continuity Regulation (“GBC”), which prescribes preventive risk management, ensuring the resilience of its operations before any possible interruption.</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i7d0ef862a44c4d01b03c984377a83cf0"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">35.b. Compliance</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company is subject to compliance with Brazilian legislation related to combating corruption, in particular Law No. 12,846/2013 and Decree No. 11,129/2022, as well as foreign legislation in the jurisdictions in which it operates as a securities issuer and securities, more specifically the US Foreign Corrupt Practice Act – FCPA of 1977.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Violations of legislation aimed at combating corruption may result in financial penalties, damage to reputation and other legal consequences that may negatively affect the Company's activities, the results of its operations or its financial condition.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Company has internal policies and procedures designed to prevent, detect, and remedy non-compliance with these laws by the Company's board members, directors, partners, executives, representatives, and service providers; and develops and implements initiatives to ensure the continuous improvement of its Compliance Program, through a robust organizational and governance structure that guarantees actions based on ethics, transparency, and respect for applicable laws and regulations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">As a result of its commitment to maintaining a robust Compliance Program, since 2020 the Company has annually obtained the DSC 10,000 certification, currently valid until December 12, 2026. In 2023, it was recognized as a Pro-Ética company, an initiative of the Office of the Comptroller General of Brazil (CGU) and the Ethos Institute to encourage the voluntary adoption of integrity measures by companies and to recognize those committed to implementing actions aimed at preventing, detecting, and remedying acts of corruption and fraud. In 2024, it received the award for best Compliance department in the Telecom and Technology sector at the Leaders League Compliance Summit &amp; Awards Brazil, and in 2025 it was highlighted as "Compliance Program of the Year", by the same organization.</span></div> 50000000 <div style="margin-bottom:10pt;margin-top:20pt"><span id="i07683256c59d4cae80c39faeefa81f33"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">36. Subsequent Events</span></div><div style="margin-bottom:5pt;margin-top:10pt;padding-left:18pt;text-indent:-18pt"><span id="i2ad721b8b5dc4d7680c2d329a3216f0a"></span><span style="color:#00497f;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:700;line-height:140%">36.a. Approval by the Extraordinary General Meeting - Acquisition of Control of FiBrasil (note 1.c.3)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">On January 9, 2026, the Company's Extraordinary General Meeting (“EGM”), among other matters, approved (i) the ratification of the acquisition by the Company of 24.99% of the shares and 1 subscription warrant issued by Fibrasil, previously held by CDPQ, as well as 25.01% of the shares and 1 subscription warrant issued by Fibrasil, previously held by Fibre Brasil; and (ii) the amendment of Article 2 of the Company's Bylaws, which deals with the corporate purpose, to include additional activities aimed at updating and complementing the Company's scope of activities in light of its positioning and business opportunities related to its strategy.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">Due to the approval of the matters mentioned above, shareholders holding shares issued by the Company who dissent from said resolutions will have the right to withdraw from the Company by receiving reimbursement for the value of their shares, under the terms and conditions described below (“Right of Withdrawal”), without prejudice to the possibility of reconsideration provided for in § 3 of article 137 of the Brazilian Corporations Law.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Frutiger LT 45 Light',sans-serif;font-size:10pt;font-weight:400;line-height:140%">The Extraordinary General Meeting was held in compliance with §1 of article 256 of the Brazilian Corporations Law for the purpose of ratifying the acquisition of control of Fibrasil, which was completed and has legal effects since the closing date, November 12, 2025.</span></div> 0.2499 0.2501 325000000 0.10170213856 0.175 268125000 0.08390426431 This refers to the allocation of the fair value attributed to the indemnification asset related to the liabilities, which is being updated by the SELIC rate. This includes the allocation of the fair value of R$5,460 attributed to the brand, and R$14,000 attributed to the Commercial Relationship This includes the allocation of the fair value of R$2,462 attributed to the contingent liability, which is being updated by the SELIC rate. This refers to deferred income tax and social contribution, net of deferred taxes, on allocations of indemnification assets and contingent liabilities. This refers to the premium value determined in the acquisition of Samauma, considering the expected future synergies from combining the acquired company's businesses, which may be used for tax purposes. (1) Includes R$8,182 of deferred income tax and social contribution on the allocation of fair value attributed to the contingent liability, which is being updated by the SELIC rate. (3) Includes R$2,105 of the allocation of fair value attributed to intangible assets. (4) Includes R$24,065 of the fair value attributed to the contingent liability, which is being updated by the SELIC rate. (5) Refers to the goodwill value determined in the acquisition of FiBrasil. This refers to the allocation of R$95,634 of the fair value attributed to the indemnification asset related to the contingent liability, which is being updated by the SELIC rate. This refers to the allocation of fair value attributed to intangibles of R$38,718, being: (i) brand (R$10,099); and (ii) customer portfolio (R$28,619). This refers to deferred income tax and social security contributions on the allocation of fair value attributed to the contingent liability, which is being updated by the SELIC rate. This includes the allocation of the fair value attributed to the contingent liability, which is being updated by the SELIC rate. This refers to the goodwill value determined in the acquisition of IPNET, considering the expected future synergies from combining the acquired company's businesses, which may be used for tax purposes. Refer to amounts of financial investments pledged as guarantees for legal proceedings (notes 20. e 34.b.). Refer to financial investments in Treasury Financial Bills (“LFTs”), made by the subsidiaries Vivo Pay I Fundo de Investimentos em Direitos Creditórios and Vivo Pay Sociedade de Crédito Direto. They are financial assets measured at fair value through profit or loss. The consolidated include R$3,024,347 and R$2,752,975 to be billed to customers on December 31, 2025 and 2024, respectively. It also includes the amounts of contractual assets (Note 25.a.), shown in item d), of this Note. Refer to billed amounts from other telecommunications operators. The incremental costs in obtaining contracts with customers are substantially represented by sales commissions paid to partners for securing customer contracts, according to IFRS 15 and deferred to profit or loss in accordance with the contract term and/or economic benefit to be generated, usually from 2 to 6 years. Under Brazilian tax legislation these may be offset up to 30% of the annual taxable income but otherwise have no expiry date. Amounts that will be realized upon payment of provision, occurrence of impairment losses for trade accounts receivable, or realization of inventories, as well as upon reversal of other provision. Includes ICMS credits from the acquisition of property and equipment (available to offset in 48 months); requests for refund of ICMS paid on invoices that were subsequently cancelled; for the rendering of services; tax substitution; and tax rate difference; among others. Non-current consolidated amounts include credits arising from the acquisition of property and equipment of R$568,579 and R$563,895 on December 31, 2025 and 2024 , respectively. Withholding income tax ("IRRF") credits on short-term investments, interest on equity and others, which are used as deduction in operations for the period and social contribution tax withheld at source on services provided to public agencies. The Company and/or its subsidiaries filed an injunction in order to represent its right not to include expenses with interconnection and industrial use of dedicated line in the FUST tax base, according to Abridgment No. 7, of December 15, 2005, as it does not comply with the provisions contained in the sole paragraph of article 6 of Law No. 9998/00. The amounts related to these expenses are deposited. The Company is party to legal proceedings related to: (i) ICMS on operations with payment based on estimates; (ii) ICMS FECP; (iii) right to ICMS credit on the acquisition of property and equipment and electricity; (iv) ICMS on amounts given as discounts and (v) consignment in payment of ICMS amounts referring to part of pay TV operations The Company is party to legal proceedings for the exemption of CIDE levied on offshore remittances of funds arising from agreements for the transfer of technology, brand and software licensing etc. On December 31, 2025 and 2024, it includes the amounts of R$179,493 and R$153,714, respectively, referring to the distribution of the PBS-A surplus. These refer to the residual cost of properties classified as available for sale in their current condition, in the process of formalizing the purchase and sale agreement. Depreciation of these properties ceased as of the date of reclassification of property and equipment. Additions from property and equipment mainly refers to: (i) in 2025 Investments were primarily directed towards expanding the 5G mobile network and strengthening FTTH to support the growth of connected customers. These investments demonstrate the Company's commitment to the quality of services provided, ensuring robust and consistent commercial performance throughout the year, in both B2C and B2B; .(ii) in 2024: Investments were primarily directed towards accelerating the 5G mobile network, as well as strengthening transmission backhaul, backbone and network, and FTTH customers. These were some of the initiatives that boosted our commercial growth this year, reinforcing our commitment to the quality of our services and ensuring healthy and consistent growth. In infrastructure, includes the amounts of R$213,077 and R$74,258 in 2025 and 2024, respectively, referring to the cancellation of lease agreements. Total balances refer to transfers between classes of fixed and intangible assets (Note 14.c.). efer to the operations of Santo Genovese Participações (2004); Spanish and Figueira (2006); Telefônica Televisão Participações (2008); Vivo Participações (2011); GVT Participações (2015), Garliava and Vita IT (2022), Vale Saúde Sempre (2023), IPNET (2024), Samauma and FiBrasil (2025). Licenses refer to the extension of authorization for the right to use radio frequencies for the operation of the SMP (Mobile Personal Service). Total balances refer to transfers between classes of property and equipment and intangible assets (Note 13.c.). Refers to outstanding balances from 2020 to 2025 whose enforceability is suspended, according to decisions of the Federal Regional Court of the First Region, and there is no prospect of the judgment being concluded in the short term. The amount is classified as a non-current liability and is updated by the Selic rate. Includes costs and expenses for interconnection and use of networks, advertising and publicity, plant maintenance, electricity, security, cleaning, TV content purchase, commercial brokerage and intermediation, partnerships, call center, back office, logistics and storage, preparation and posting of telephone bills, banking services, among others. Includes the consolidated amounts of R$3,723,418 and R$3,453,239 and R$3,049,570 in the years ended December 31, 2025, 2024 and 2023, respectively, related to the leases depreciation (Note 13.e.). Includes costs and expenses with fees, salaries, social charges and benefits, profit sharing, stock-based compensation plans, pension plans and other post-employment benefits, training, transportation, health and nutrition. Includes costs and expenses with FISTEL, FUST, FUNTTEL, liens for renewal of licenses and other taxes, fees and contributions. Includes costs and expenses of infrastructure, real estate, equipment, vehicles, insurance and means of connection..Includes low-value lease amounts of R$6,616, R$7,066 and R$12,425 in December 31, 2025, 2024 and 2023, respectively. In 2024, it includes the amounts of: (i) R$386,392 relating to the reversal of regulatory provisions as a result of the Commitment Agreement Linked to the Negotiations for Self-Composition for the Adaptation of STFC Concession Contracts to Authorization Instruments (Note 20.). In 2025 and 2024, it includes the amounts of R$41,402 and R$26,546, respectively, relating to the reversal of provision expenses for legal claims as a result of participation in tax amnesty programs (Note 20.). In 2023, includes R$244,229 related to the reversal of part of the remaining 50% resulting from the agreement regarding the Post-Closing Adjustment between the Company and Oi. S.A. – In Judicial Recovery. It also includes the amounts of net gains on the sale of assets (real estate, scrap, etc.) and expenses with taxes on other operating income. In 2025, this includes gains from the remeasurement of equity interests. R$128,750 and R$6,153, resulting from the transactions for the acquisition of control of FiBrasil (note 1.c.2) and the corporate reorganization of VivaE and Vivo Ventures (note 1.c.4). Includes the consolidated amounts of R$1,703,845, R$1,630,993 and R$1,392,570 for the years ended December 31, 2025, 2024 and 2023, respectively, related to lease charges. In 2024, it includes the amount of R$405,986, related to the reversal of the monetary adjustment of regulatory provisions due to the Commitment Agreement Linked to the Negotiation for Self-Composition for the Adaptation of STFC Concession Contracts to Authorization Instruments (Note 20.). In 2025 and 2024, it includes the amounts of R$88,321 and R$374,271, respectively, related to the reversal of provisions for legal claims expenses due to participation in tax amnesty programs (note 19.b) Foreign currency swap (euro and CDI x euro) (R$95,055) and (dollar and CDI x dollar) (R$355,055) – swap transactions contracted with maturities up to February 23, 2026, with the objective of protecting against exchange rate variation risks of net amounts payable (book value of R$1,664 payable and R$5,432 payable, respectively). IPCA x CDI Swap (R$48,619) – swap transactions contracted with maturities in 2033 with the objective of protecting against the risk of variation of the IPCA (book value of R$5,345 to receive). Swap Euribor x CDI (R$44,991) – swap transactions contracted with maturities in 2027 with the objective of protecting against the risk of Euribor variation (accounting value of R$5,956 to be payable) NDF Copper x Pre (R$1,048,500 - LME in Reais * Tons contracted) – Copper NDF transactions contracted to protect future sales revenues against variations in the price of copper on the LME relative to the Real. (book value R$72,868 payable) The transaction is designated for cash flow hedging Includes R$1,181,762, referring to contracts for the provision of security services with Telefónica Cybersecurity Tech, S.L.U. (“CyberCo”) and its subsidiaries, companies of the Telefónica Group. They refer to insurance amounts contracted to ensure the continuity of the discussion of legal proceedings (note 19). Includes R$4 billion was contracted related to the Self-Composition Agreement for the Adaptation of STFC Concession Contracts.