Slide 1: 2Q26 Earnings Presentation
XP inc. 2Q26 EARNINGS PRESENTATION
Slide 2: Disclaimer
IN REVIEWING THE INFORMATION CONTAINED IN THIS PRESENTATION, YOU ARE AGREEING TO ABIDE BY THE TERMS OF THIS DISCLAIMER . THIS INFORMATION IS BEING MADE AVAILABLE TO EACH RECIPIENT SOLELY FOR ITS INFORMATION AND IS SUBJECT TO AMENDMENT . This presentation is prepared by XP Inc . (the “Company,” “we”
Slide 3: Key Highlights and Strategy; 2Q26 Financials; Q&A; Appendix
Key Highlights and Strategy 2Q26 Financials QaA Appendix
Slide 4: 2Q26 Highlights: Core Investment KPIs, Balance Sheet and Profitability
Core Investment KPIs Balance Sheet and Profitability R$ 2.2 trillion Client’s assets, AUM and AUA (+17% YoY) 18.4 K Total Advisors (+1 % YoY) 4.8 million Active Clients (+1 % YoY) R$ 5.1 bn Gross Revenue (+8% YoY) R$ 1.6 bn Adj. EBT (+15 YoY) R$ 1.4 billion Adj. Net Income (+5% YoY) 22.5 % ROE 20.3
Slide 5: Total Client Assets, AUM and AUA in XP totaling R$ 2.2 trillion
Total Client Assets, AUM and AUA in XP totaling R$ 2.2 trillion Total Client Assets, AUM and AUA (R$ Billion) Total Client Assets (in R$ bn) AUM (in R$ bn) AUA (in R$ bn) Net New Money (R$ Billion) Retail Corporate & Institutional 1,372 1,529 1,535 214 267 284 276 346 354 2Q25 1Q26 2Q26 1,861 2,173
Slide 6: Strengthening Brazil's Leading Financial Platform
Strenghtening Brazil’s Leading Financial Platform Our comprehensive f inancial ecosystem is centered on long - term relationships, delivering services and personalized advice with excellence across every client' s f inancial needs Largest and Most Qualified Advisor Network Recognized Trusted Brand T
Slide 7: Deepening Client Relationships Across Every Financial Need
DEEPENING CLIENT RELATIONSHIPS ACROSS EVERY FINANCIAL NEED Individuals Model - Agnostic Businesses Expanding and Improving Existing Relationships Financial Solutions Completeness Broader Relationship and Long - Term Client Value While preserving our core in investments, we keep expanding through an
Slide 8: 2Q26 Financials
2Q26 Financials
Slide 9: Gross Revenue
Retail Wholesale Banking Other Gross Revenue Breakdown R$ Million Gross Revenue Breakdown % GROSS REVENUE G R O S S R E V E N U E P O S T E D + 8 % G R O W T H Yo Y 3,577 3,773 3,881 889 1,146 1,175 202 2Q25 1Q26 2Q26 4,669 4,919 5,056 +8% 77% 77% 77% 19% 23% 23% 4% 2Q25 1Q26 2Q26 100% 100% 100% 1H2
Slide 10: Retail Gross Revenue
Equities Fixed Income Funds Platform New Verticals Other Retail RETAIL GROSS REVENUE I N C R E A S I N G R E V E N U E D I V E R S I F I C AT I O N Retail Revenue R$ Million Retail Gross Revenue Breakdown % 3,577 3,773 3,881 2Q25 1Q26 2Q26 +8% 29% 31% 29% 28% 20% 21% 10% 10% 11% 16% 17% 17% 18% 22%
Slide 11: Wholesale Banking Revenue
WHOLESALE BANKING REVENUE Revenues growing 32% YoY, highlighting our Corporate franchise evolution Corporate, Issuer Services and Institutional Breakdown R$ Million 279 498 606 268 269 186 343 379 383 2Q25 1Q26 2Q26 889 1,146 1,175 +32% Corporate 11 Issuer Services Institutional
Slide 12: Sales, General & Administrative Expenses (SG&A)
SALES, GENERAL & ADMINISTRATIVE EXPENSES ( SG& A) ¹ (LTM %) 547 514 531 1,014 2Q25 1,096 1Q26 1,109 2Q26 1,561 1,610 1,640 +5% SG& A¹ (R$ Million) People Non - people 24.2% 22.8% 23.2% 35.4% 34.0% 34.3% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Efficiency and Compensation Ratios¹ Compensation Rat
Slide 13: Adjusted Earnings Before Taxes (EBT)
EBT G RO W S O N YEARLY AND Q UARTERLY BASI S EBT (R$ Million) ADJUSTED EARNINGS BEFORE TAXES (EBT) 1,364 1,418 1,565 30.3% 2Q25 30.0% 1Q26 32.0% 2Q26 15% EBT Margin 13
Slide 14: Adjusted Net Income
NET I NCO M E G RO WTH YO Y W I TH M ARG I N EXPANSI O N Q O Q ADJUSTED NET INCOME 1,321 1,318 1,384 29.4% 2Q25 27.8% 1Q26 28.3% 2Q26 5% Adjusted Net Income Adjusted Net Margin 14
Slide 15: Diluted EPS and Return on Tangible Equity
Notes: 1 – Calculated based on Adjusted Net Income EPS and Return on Tangible Equity Diluted EPS 1 ( R $ ) 30.0% 26.2% 27.2% 24.4% 21.7% 22.5% 2Q25 1Q26 2Q26 Annualized ROTE and ROAE 1 ROAE ROTE 2.46 2.49 2.67 2Q25 15 1Q26 2Q26 +9%
Slide 16: Consistent Capital Distribution to Shareholders
C o n s i s t e n t C a p i t a l D i s t r i b u t i o n t o S h a r e h o l d e r s , w i t h a l m o s t R $ 1 5 b n i n D i v i d e n d s a n d S h a r e R e p u r c h a s e s 495 2022 2023 2,000 1,354 2024 1,899 2025 518 1,000 1,000 1H26 1,815 3,542 3,354 2,394 2,518 2022 2023 2024 2025 2026E 5
Slide 17: Capital Management: BIS Ratio
CAPITAL MANAGEMENT BIS Ratio 1 20.3% BIS Ratio Common Equity Tier 1 Additional Tier 1 Tier 2 51% 51% 40% Risk - Weighted Assets and VaR (R$ Million) Credit RWA Market RWA Operational RWA RWA % of Total Assets 13 bps 14 bps 18 bps VaR 2 of R$44mm , or 18bps of Equity Notes: 1 – Managerial BIS Ratio,
Slide 18: XP Inc.
KP inc.
Slide 19: Appendix
APPENDIX
Slide 20: Credit Portfolio
To t a l U n s e c u r e d S e c u r e d R $ billion 26.8 9.1 17.6 Loans 9.1 1.6 7.5 Credit Card 42.0 38.1 3.9 Corporate Securities 77.9 48.8 29.1 Credit Portfolio Main Activities Investment Banking Fixed Income Distribution Corporate Credit TOTAL LOAN 20
Slide 21: Non-GAAP Reconciliation
Non - GAAP Reconciliation 21 Managerial P&L Reclassifications and Adjustments Accounting P&L in R$ mn 5,056 - 5,056 Gross Revenues (172) 34 (206) Sales Taxes & Deductions 4,884 34 4,849 Net Revenues (1,531) - (1,531) COGS 3,353 34 3,318 Gross Profit (1,638) 1 (1,639) Total SG&A (1,109) - (1,109) Peo
Slide 22: 2Q26 Investor Relations
2Q26 EARNINGS PRESENTATION I n v e s t o r R e l a t i o n s i r @ x p i . c o m . b r h t t p s : / / i n v e s t o r s . x p i n c . c o m /