Nu Holdings Ltd. · NYSE:NU
Nu — Q1 2026 Earnings Presentation
40 slides from Nu's earnings presentation, May 14, 2026
Slide 1: Q1 2026 Earnings Presentation
Slide 2: Welcome
Welcome Guilherme Souto Investor Relations Officer
Slide 3: Presenters
Guilherme Lago Chief Financial Officer David Vélez Founder, Chief Executive Officer and Chairman
Slide 4: [Die | See Sar saccs | So Seecteees Seaatceriegteres
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Slide 5: Opening Remarks
Opening Remarks
Slide 6: Our model powers our earnings-generating formula
nu Our model powers our earnings-generating formula ARPAC - US$. 135 6 RAPIDLY GROWING INCREASING REVENUE CUSTOMER BASE PER CUSTOMER +7SMM Net Adds / 4y 24% FXN ARPAC CAGR. ove i SUBSTANTIAL EARNINGS POWER ts om Na An ‘en © ovenino newanes
Slide 7: Brazil remains our growth engine, driven by share gains and market expansion
nu Brazil remains our growth engine, driven by share gains and market expansion US$50B
Slide 8: Mexico is a massive opportunity
nu Mexico is a massive opportunity — market has along runway ahead, and we are scaling into it
Slide 9: The same earnings-generating formula is also working for Mexico
nu are canines The same earnings-generating eae formulais also working for Mexico Customers +M ARPAC - US$. Efficiency Ratio - % Net Income - US$M 150 ox 24 ° oo 2 on RAPIDLY GROWING INCREASING REVENUE Low-cost SUBSTANTIAL CUSTOMER BASE PER CUSTOMER — OPERATING PLATFORM. EARNINGS POWER ‘10MM Net Add
Slide 10: From AI Adoption to AI Transformation
nu From Al Adoption to Al Transformation — a fundamental shift already compounding across the company OA vases 02 AlAssistance Workflow Reinvention Alin every employee'shands ~ +80% engineering throughput Yor ~ 10% weekly token consumption since Jan ~ 90% faster testing cycles ‘Strengthens ourlow-co
Slide 11: Financial Results
Slide 12: Strong overall credit portfolio expansion, led by Credit Cards and Unsecured Lending
nu Strong overall credit portfolio expansion, led by Credit Cards and Unsecured Lending Total Portfolio . vowuwe.uss on 40% Yor RO Portfolio Composition wmrn “BRT 30.4 sz ares
Slide 13: Building a scalable and sustainable Deposit Franchise across Latam
nu Building a scalable and sustainable Deposit Franchise across Latam Deposits .ussv-2v counrey @ bret @ asico © Colombia — Cont ot Deposit Xt ntarbank Rte we = we ~ = sero iy “as 424 mm 366 bed Ba = 316 fe 63 59 289 67 45 334 337 ea 28
Slide 14: Resilient risk-adjusted NIM underpins performance as NII grows
nu arzs eannnos Resilient risk-adjusted NIM underpins performance as NIl grows Net Interest Income & CLA -uss wi. nisi ow wn $3.25 $1.79
Slide 15: Early delinquency follows seasonality, while credit quality holds
nu Early delinquency follows seasonality, while credit quality holds 5.0% 90+ NPLs SEASONALITY Gr23 @223 0923 2423 QT24 G224 AIR QH24 GIS 225 GIS O425 GI26 © Finanorar nesuers
Slide 16: Strong total exposure growth, with mix tilted toward Credit Cards and Unsecured Lending
nu are canninos Strong total exposure growth, with incremental mix tilted toward Credit Cards and Unsecured Lending Total Exposure uss wu riv.xorrora, ee Incremental Exposure Mix @ Crested @ Unscurdtencing © Secu ending Credtcad @ Unecred Lending @ Secured Lending 84262 45,719
Slide 17: Seasonality, growth and mix drive the dynamics
nu Seasonality, growth and mix drive the dynamics NPL 15-90 - QoQ Bridge +65bps +4bps 4% 5.00% ECL Allowance - QoQ Bridge +17bps _+2bps +423 #267 +16 $6,100 M +69 424 6100 rans tenionis comm QB) FINANCIAL RESULTS
Slide 18: Strong and resilient unit economics through the cycle
nu Strong and resilient unit tics through the cycle —all three franchises profitable at the cohort level monthe © Finanorar nesuers
Slide 19: Fortress balance sheet, with strengthening coverage across all metrics
nu are canninos Fortress balance sheet, with strengthening coverage across all metrics sroce covensor 16.2% Total Coverage Over Total Portfolio Total Coverage Over NPL9O+ Stage’ Coverage Over Stage Portfoo Gree CLA Over NPL 90¢ Formation 153.8% Se a iat sm wet sg sane a once nen men eames © Finanora
Slide 20: Fee and Float diversification compounds while Credit normalizes seasonally
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Slide 21: Scalable business model delivering continued operating leverage
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Slide 22: Solid earnings trajectory with sustained ROE
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Slide 23: Closing Remarks
nu Closin Remarks >.
Slide 24: Digital challengers: from 5% to 35% of the world's banking revenue pool
nu Digital challengers: from 5% to 35% of the world's banking revenue pool $2.9T _ $8-10T crm \ came <100 bps The poo! itself grows roughly 8x from the early 20008 t0 2030, and the digital challenger share within it keeps compounding Even in a scenario where we do not find product-market fit, the ma
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Slide 26: Appendix
nu Appendix
Slide 27: Unlocking long-term value through engagement, monetization and scale
nu are canines Unlocking long-term value through engagement, monetization and scale Monthly ARPACby Cohort -iss $30.8 wane concn Monthly ARPAC: uss $1.0 serorro 308 09 247 a a ] o7 1 } Cy 068 A rst
Slide 28: Strong capital position to fund both growth and global expansion
nu Strong capital position to fund both growth and global expansion 223 EN eee 2 Sisyroouronteate Capital Pakton $9. 4 Liquidity Position 37 94 . 39 I |
Slide 29: Non-IFRS Financial Measures and Reconciliations
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Slide 30: Non-IFRS Financial Measures and Reconciliations
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Slide 31: Non-IFRS Financial Measures and Reconciliations
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Slide 32: Unaudited Interim Condensed Consolidated Statements of Income
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Slide 33: Non-IFRS Financial Measures and Reconciliations
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Slide 34: Non-IFRS Financial Measures and Reconciliations
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Slide 35: Non-IFRS Financial Measures and Reconciliations
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Slide 36: Non-IFRS Financial Measures and Reconciliations
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Slide 37: Non-IFRS Financial Measures and Reconciliations
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Slide 38: Glossary: A-M
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Slide 39: Glossary: N-W
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Slide 40: Signatures
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Nu Holdings Ltd. By: /s/ Guilherme Souto Guilherme Souto Investor Relations Officer Date: May 14, 2026