Fetching SQL Server data in Excel with QueryTable (using VB.NET) is always inserting 1,048,576 rows in SpreadSheet

We developed an Excel addin written in VB.NET and we are sending dynamic SQL queries to an Azure SQL database and try to display the data returned in an Excel sheet. We are using the QueryTable object to do so.

'create Excel table to retrieve data
Dim oListObject As Excel.ListObject = Globals.ThisAddIn.Application.ActiveSheet.ListObjects.Add(Excel.XlListObjectSourceType.xlSrcExternal, "OLEDB;Provider=" & global_oRepository.GetVTableProvider & ";" + Me.oVTable.getDatabases().Values(0).getConnectionString(), System.Type.Missing, Excel.XlYesNoGuess.xlYes, Globals.ThisAddIn.Application.ActiveSheet.cells(Me.iRowHeaders + 2, Me.iLeft), System.Type.Missing)  '"ODBC;" + 
     oListObject.ShowHeaders = False
     oListObject.ShowTableStyleColumnStripes = False
     oListObject.ShowTableStyleFirstColumn = False
     oListObject.ShowTableStyleLastColumn = False
     oListObject.ShowTableStyleRowStripes = False
     oListObject.ShowTotals = False
     oListObject.TableStyle = ""

With oListObject.QueryTable
    .CommandType = Excel.XlCmdType.xlCmdSql
    .CommandText = Me.SQLStatement
    .RowNumbers = False
    .FillAdjacentFormulas = False
    .PreserveFormatting = True
    .RefreshOnFileOpen = False
    .BackgroundQuery = True
    .RefreshStyle = Excel.XlCellInsertionMode.xlInsertDeleteCells
    .SavePassword = False
    .SaveData = False
    .AdjustColumnWidth = False
    .RefreshPeriod = 0
    .PreserveColumnInfo = False
    oCurrentQueryTable = oListObject.QueryTable
    bCurrentQueryTableCanceled = False
    Globals.ThisAddIn.Application.EnableEvents = True
    .Refresh()

        With Globals.ThisAddIn.Application
            'Source : https://stackoverflow.com/questions/8925403/excel-vba-refresh-wait/26780134#26780134
            If Not bCurrentQueryTableCanceled Then .CalculateUntilAsyncQueriesDone()
        End With
End With

Now, every time I'm sending a SQL, the expected row count returns the correct number with that code:

Dim iResultRecordsCount As Integer = oListObject.QueryTable.ResultRange.Rows.Count

But, when I'm looking at the Excel worksheet, it seems that 1,048,576 Excel rows are inserted into the Excel document.

Excel file with a lot of rows:

After the data refresh, if I decide to save the Excel Worksheet, the file weight more than 100 Mb which is a serious performance issue.

My questions are:

1. How is this possible?
2. Is there a way to avoid QueryTable filling down all the cells to the limit?