Eduardo De Salles Bartolomeo: Okay. Thiago, thanks for congrats and thanks for the very specific question. Yes, there is no — the path now is execution. What we have — the focus now as we arranged every piece of the puzzle. We have a partner, we have a structure. We have the people. We have Marc. We have Jerome, we have Deshnee, we have — we have our structure execution. That’s the — there are primary focus. But as Gustavo has mentioned, the amount of investment that this business will require down the road, the optionality is in our hands. Is that an IPO? Could be. Is a merger? It could be, but it’s not in our minds now. Our minds are totally focused on the execution, okay? I hope I have been more clear now. This is something for down the road two to three years to think about.
For now, now that we did the deal, let’s focus on accelerating the fee — how can I say that — filling the gaps or closing the gaps on the execution and accelerating growth, as I mentioned before. And then two, three years down the road, I don’t know, we might — and then as Gustavo mentioned, the optionalities will be all in our hands. We haven’t think about that yet. Okay. I hope I have been specific an answer due this time. And I’ll pass to Medeiros to answer your second question.
Carlos Medeiros: Thiago. So the main points have been working in the operational side is basically asset reliability in all systems. So that’s a point where we believe there is the most — that is most room for improvement? And clearly, we saw some results in the last quarter. Besides the reliability, there are some specific points that vary from system to system and also the geography where I believe there is the biggest opportunity for upside is sLNG in terms of reliability. Yes, this is the main point.
Operator: Our next question is from Amos Fletcher with Barclays.
Amos Fletcher: Yes, good morning, gentlemen, and thanks for the opportunity I just wanted to ask a question about the separation of VBM. Will it be run effectively with a separate balance sheet? And will that influence Vale’s net debt target and cash returns policy. So for example, if VBM is free cash flow negative, for example, are you going to carve that out from Vale’s adjusted net debt when you think about shareholder returns? Thanks.
Gustavo Pimenta: Hey Amos, Gustavo here. No, given the larger share of participation, it will be all consolidated still. But certainly, they will be able to fund themselves with their own either generated cash, being able to raise capital and that, potentially, that it’s — for now, we are expecting to be recourse. But over time, as the business matures, we may be able to change it, but at this point, given that the size of the participation from Vale. It will continue to be consolidated and treated as such. So, no change in the policies at this point.
Operator: Our next question is from Rodolfo Angele, Banco JPMorgan.
Rodolfo Angele: Hi, good morning. My first question, I just wanted to confirm the cash that stays at BBM of $1 billion, you mentioned this is what you see as what the company will need for the next three to four years. Did I get this right? Gustavo, can you just confirm this?
Gustavo Pimenta : Yes. Rodolfo, because the company — I mean, the way we are setting the company up is there is no debt. They want to very conservative balance sheet. We are adding $1 billion of cash, plus they do generate good cash flow. So that combination will allow them to fund what they have planned for the next three to four years, certainly assess maybe new opportunities to invest may come up. But at this point, based on the plan, that’s what we have. So the rest, the $2.4 million will come up to the parent.
