We reaped good fruit. We strengthened our capacity to promote and support the continuous evolution of the company, while advancing decisively in the design of long-term strategic scenarios and direc- tions, by taking forward the definition of what we call the Future Gerdau. We reduced our financial leverage and had a strong gener- ation of free cash flow, which also contrib- uted to the preparation for a new cycle. As we see it, the future demands a Gerdau that differs from the traditional model of a simple producer of steel. We should be- come increasingly present in the Americas market as providers of services and prod- ucts with high value added. For this transformation, we will follow the trail of innovation in the steel value chain. Gerdau had great achievements and results among the best in the second decade of the 21st century, but the company of tomorrow will be even better. We also evolved on important issues, such as our diversity and inclusion programs, and maintained high levels of safety in the workplace by recording the best result in Gerdau’s history in the Severity Rate — a measure of the level of risk of workplace accidents. That’s how we materialize our purpose — “Empower people who build the future.”