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Operator

Good morning, and welcome to JBS Second Quarter of 2026 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

Any statements eventually made during this conference call in connection with the company business outlook, projections, operating and financial targets and potential growth should be understood as merely forecast based on the company’s management expectations in relation to the future of JBS. Such expectations are highly dependent on the industry and market conditions and therefore, are subject to change.

Are present with us today, Gilberto Tomazoni, Global CEO of JBS; Guilherme Cavalcanti, Global CFO of JBS; Wesley Batista Filho, CEO of JBS USA; and Christiane Assis, Investor Relations Director.

Now I’ll turn the conference over to Gilberto Tomazoni. Mr. Tomazoni, you may begin your presentation.

CME Group said on Tuesday it will introduce round-the-clock trading in its 100-Ounce Silver futures contract from September, following strong demand for its retail-focused precious metals products and the record debut of its gold contract, Reuters reported.
Since 24×7 trading in 1-ounce Gold futures began on July 24, more than 53,000 contracts worth about $219 million have traded during expanded weekend sessions, CME said.

The exchange operator said its 1-ounce Gold contract represents the largest liquidity pool for weekend gold futures trading. Both the 1-ounce Gold and 100-ounce Silver contracts offer smaller notional exposure designed to appeal to retail traders.

CME’s metals business posted a record average daily volume of 1.3 million contracts in the first half of the year, up 55% from a year earlier, largely driven by precious metals trading. Its silver futures also recorded an average daily notional value of $50 billion during the period.

The 100-ounce Silver futures contract, launched in February 2026, recorded an average daily volume of 17,800 contracts in the first half of the year. The contract is financially settled against the daily settlement price of the benchmark COMEX 5,000-ounce Silver futures contract and is listed on and subject to COMEX rules.

The September launch of round-the-clock silver futures trading remains subject to regulatory review.

India’s markets regulator proposed on ​Tuesday extending ​the rules that currently govern ​vault managers to cover all physically settled bullion underlying SEBI-regulated products, a move aimed at ‌strengthening oversight ⁠of ⁠the country’s digital bullion market.

Here are the ​details:

The Securities and Exchange Board of India has proposed expanding its gold-backed Electronic Gold Receipts (EGR) framework to cover all physical bullion underlying SEBI-regulated ⁠products, including ‌bullion exchange-traded funds and derivatives, according to a consultation paper.

⁠Vault managers store physical gold that ​backs electronic gold receipts, which ​investors can trade on exchanges.

India is one of the world’s largest consumers of gold, and the electronic gold market has expanded in ‌recent years as more investors seek alternatives to holding physical ​bullion.

The ​consultation paper ⁠also proposed a circular outlining the framework for EGRs, along with operational guidelines for ​vaulting services across all SEBI-specified bullion-related instruments.
SEBI has invited public comments on the consultation paper until September 1.