Eduardo Peres: ...to the store. We are doing one of their bigger stores, so the expectation is very high. It impacted the same store. In Brasília, it is transformational. It is an expansion, as we have seen in ParkShoppingBarigüi in 2024. This year, in March 2026, MorumbiShopping. We are going to connect two very relevant points of the shopping mall. The shopping being modernized and revamped, several changes of the mix in the original mall, and this expansion will bring new operations complementary to the mall. We have a big, good expectation on these expansions and others that might come in our portfolio in the future. Casas Bahia. We have a board, and I do not remember the number, but if you take the 25 biggest groups and how much they represent on the rental revenue, that is not the 100% of the revenue of Multiplan.
Eduardo Peres: The 25 biggest groups, if we take any brand, it is just one group. All the brands are there represented in one. They represent these 25 higher. They represent 23%, if I am not wrong, of our revenue of rent. Well, the number is right. The number of stores is very low, so every single time that there is a movement, big movement of tenants, people ask, and you do not see that reflected in the next quarters, either in sales or rent. We continue to grow because of that. Thank you for the question. Next question. Madison Garcia, Morgan Stanley. Good morning. My question is, what do you think about the organic levers of growth for the company since we can have a scenario that the interest of our cost of capital might be reduced?
Eduardo Peres: About the tax reform, I wanted to understand how is the appetite for international companies to be more interested in getting into Brazil with the tax simplification. Thank you. Ask the first part of the question first because it was not clear to me. I wanted to understand on how do you see the organic levers of growth for the company, the possibility for it to continue to grow with parking lot services, what are the rents, because the contribution of inflation has been low. More of a perspective of growth without dispersing capital. Well, we are excited. We expect to see the growth of the NOI, and then you have a growth of the revenue and services. Then we see a big activity and an exchange of stores that generates a revenue of services.
Eduardo Peres: We have seen a concentration of the big points, which is what we deliver to our tenants, and that increases the occupancy rate with the NOI, and it increases all those revenue for services. We have, I do not expect. Well, we always evaluate all the scenarios, but the organic growth, we see, when you see parking lot, you see an increase of visits to the shopping mall. You have 2.5% of the growth in a universe that has 60 million cars, 2.5% is very big. What we are always looking is the best experience of the consumer. It reminds us that the location of our shopping mall. We are optimistic in regards to this in a sense. Second question. The rent, which is the main revenue, we see the long period, and it is negative or very low. The effect of IGP-DI is 1.2%.
Eduardo Peres: If I am not wrong, it is 3.8 accumulated. You start to see a movement that helps with this growth in the rental revenue. I do not know if the tax reform has already caused an effect of the simplification being enough to attracting international brands. Look at the productivity in Brazil. The good assets are coming here because when you look at the world, you see it is not obvious where you go. Here, it was a low penetration of international brands, whether if it is new names or being concentrated. How many brands are in São Paulo? How many are in Brasília, Belo Horizonte, Curitiba, big centers, Porto Alegre? There is an expansion, natural expansion, regardless of all that volatility that we see in Brazil. The world is volatile.
Eduardo Peres: The tax reform, you have. Maybe in the future, there is going to be the simplification that will stimulate more. Thank you. Thank you for all the questions and your interest. Now we are going to close the Q&A session. We invite the participants that still have questions, you can talk to the IR relations department. Eduardo Peres to close the event. Mr. Eduardo, you can continue. Well, I wanted to thank you to the partners, to the analysts, my entire team that has worked intensely to make this company prepared for any environment. That is the key. There will be opportunities for growth. There will be opportunities for distributing dividends. There will be opportunities of doing M&As. We still do not know. It is the beginning of a new cycle, but we are always prepared for any situation. I would like to thank all of you that followed us.
Operator: Thank you very much. Thank you. The earnings call of the results of Q3 2026 of Multiplan is closed. Have a nice day.
