• Minerva issued a clarification to B3 on comments about reducing leverage to about 1.7x net debt/EBITDA within 18-24 months.
• Net leverage stood at 2.9x at end-June, following first-half working-capital needs amid geopolitical and market volatility.
• The CFO reiterated an intention to use cash generation to reduce debt, supporting a gradual deleveraging path.
• The 18-24 month timeframe was described as an example based on disclosed results, not guidance, given macro volatility.

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