Following the downsizing of our corporate structure in the fourth quarter, combined with reducing non-personnel G&A expenses, such as consulting and travel, we recorded a 9.5% reduction in G&A expenses compared to the first quarter of 2022, reaching just over R$ 31 million compared to almost R$ 35 million in the same quarter of last year.

May 18, 2023 / receipt, needs a key / Shai Shor, CFO | earnings call 2023-05-18 | transcript a69b2815-e272-4e86-a26d-0ede623944e7 | chars 7182-7522 | segment 7

The 30 million is mainly coming from the reprioritization of our initiatives. And we are starting to map. We did map already. all the expenses that we can cut and not impact the performance of the business or we can do without third party do it ourselves. So coming from consulting, coming from also travel expenses and so on. So we did a really detailed job here on mapping all the expenses that we could cut without impact the performance of the business.

Apr 5, 2023 / receipt, needs a key / Caio, other | earnings call 2023-04-05 | transcript c055ca86-243f-429c-892a-d45ecd782ee3 | chars 15003-15460 | segment 15

In addition to reducing non-personnel G&A expenses, such as consulting and travel, among others, we also announced in November a downsizing of our corporate structure equivalent to 9% of the total workforce in Latin America.

Apr 5, 2023 / receipt, needs a key / Caio, other | earnings call 2023-04-05 | transcript c055ca86-243f-429c-892a-d45ecd782ee3 | chars 8049-8273 | segment 8

This initiative also included reducing non-personnel G&A expenses, such as consulting and travel, among many others.

Nov 16, 2022 / receipt, needs a key / Shai Shor, CFO | earnings call 2022-11-16 | transcript 4fdaa44c-9bd4-4c2d-a018-bebcc4fcc664 | chars 7118-7234 | segment 7