Slide 1: 4Q24 Earnings Presentation
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 4Q24 Earnings Presentation February 2025
Slide 2: Disclaimer
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Disclaimer This report may contain forward-looking statements regarding Inter, anticipated synergies, growth plans, projected results and future strategies. While these forward-looking statements reflect our Management’s good faith beliefs, they invo
Slide 3: 2024 & 4Q24 highlights
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 18.6 20.7 22.8 24.7 26.3 27.8 29.4 30.4 31.7 33.3 34.9 36.1 1 0. 1 5.0 2 0. 2 5.0 3 0. 3 5.0 2024 & 4Q24 highlights 3Note: Definitions are in the Glossary section of this Earnings Presentation. Net Income Total Clients 60/30/30 R$973mm net income (20
Slide 4: Agenda: CEO Overview
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 4 Agenda 1.CEO Overview 2.Business Update 3.Financial Performance 4Q24 Earnings Presentation João Vitor Menin Global CEO
Slide 5: Powerful network effects drive growth & profitability
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 5 Sustainable profitability Continued growth NETWORK EFFECTS Engaged clients Best-in-class UX Product Offering Cost Efficiency Revenue Growth Credit Underwriting Capital Allocation Net Income & ROE 2015 2020 2025 Beyond Version: 02/05 at 06 pm BRT Po
Slide 6: Building the future through continuous innovation
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Global Expansion 3.9+ mm Global clients USD 1.2bn AuC, AuM & Deposits Building the future through continuous innovation Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: As of January 20th, 2025. Nota 2: Considering
Slide 7: Organization changes
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 7 Organization changes New officers Board Members Advisors Investing in talent for the future Rafaela Vitória Chief Economist & IRO Jim Allen Independent Board Member Mônica Saccarelli Investments Officer Alexandre Riccio Brazil CEO Marco Antonio Ara
Slide 8: Executing our plan for the second consecutive year
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 0 1 2 3 4 5 6 Total Clients What we achieved so far 4Q24 Our 5-year north star By 2027 Where we started Year 5 O pe ra ti o na l Efficiency Ratio Pe rf o rm an ce Return on Equity Pr o fit ab ili ty Note: Definitions are in the Glossary section of th
Slide 9: Agenda: Business Update
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 9 Agenda 1.CEO Overview 2.Business Update 3.Financial Performance 4Q24 Earnings Presentation Alexandre Riccio Brazil CEO
Slide 10: Strong momentum across our 7 verticals
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 GROWING market share INCREASING monetization & activation ATTRACTING clients & funding 10 Strong momentum across our 7 verticals CREDIT BANKING INSURANCE INVESTMENTS GLOBAL LOYALTY SHOPPING
Slide 11: Accelerating client acquisition and improving activity rate
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 +21% YoY 11 Total Clients 51.0% 51.5% 52.2% 52.7% 54.0% 54.9% 55.3% 55.9% 56.9% 12.6 13.5 14.5 15.5 16.4 17.4 18.4 19.5 20.6 24.7 26.3 27.8 29.4 30.4 31.7 33.3 34.9 36.1 - 5 .0 1 0. 1 5.0 2 0. 2 5.0 3 0. 3 5.0 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24
Slide 12: Banking: Robust growth in TPV
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Banking Cards + PIX TPV per Active Client In R$ thousand, monthly Cards + PIX TPV1 In R$ billions Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: Scale of PIX volume was reduced to fit on page. 12 %YoY +44% +13% +
Slide 13: Credit: evolving the Consumer Finance 2.0 portfolio
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Gamified journey Fast & intuitive Increase engagement Generate cross-sell ~1mm engaged clients 13 Credit Consumer Finance 2.0 Portfolio1 In R$ millions PIX Financing Buy Now Pay Later 175 330 503 695 1Q24 2Q24 3Q24 4Q24 +192mm Overdraft Leveraging da
Slide 14: Investments: offering a wide range of products
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 R$19bn Inter Asset 14 Assets Under Custody Active Clients AuC & Active Clients In R$ billions and millions R$4.5bn Piggy Bank1 AuC 92 95 105 122 141 4.7 5.3 5.7 6.3 6.8 50.0 70.0 90.0 110.0 130.0 150.0 4Q23 1Q24 2Q24 3Q24 4Q24 Investments: offering a
Slide 15: Insurance: reinforcing the power of our platform
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 15 Insurance Policies Sold Active Contracts Sales and Contracts In thousands and millions Insurance: reinforcing the power of our platform Note: Definitions are in the Glossary section of this Earnings Presentation. 389 404 1,023 1,308 2,703 1.7 1.9
Slide 16: Shopping: driving engagement and monetization
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 GMV and Net Revenue In R$ millions 3,985 3,504 4,980 2022 2023 2024 29.6 33.7 33.8 53.0 58.3 -10 0 10 20 30 40 50 60 70 180 255 322 0 50 100 150 200 25 0 300 35 0 1,050 994 1,136 1,381 1,469 4Q23 1Q24 2Q24 3Q24 4Q24 GMV Net revenue YoY +97% +40% YoY
Slide 17: Global: replicating the success of our platform abroad
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 +8% FX Transactions Market Share mm Global Clients 3.9 +79%YoY ~BRL 130 mm Global Card TPV 4Q24 Assets under Custody & Management1 Deposit Balance2 Total Global: replicating the success of our platform abroad 17 Global 121 123 154 171 184 243 335 381
Slide 18: Loyalty: seizing cross-selling opportunities
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Loyalty Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: Burned points are points redeemed by customers and exchanged for Loop benefits. Loyalty: seizing cross-selling opportunities Clients In millions 4.0 6.6 8.3
Slide 19: Reaching new highs in market share in several products
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Market Share In % 7. 8% 5. 9% 1.9 % 6. 1% 2. 9% 2. 3% 3. 2% 1. 0% 0. 8% 19 2.4% 8.3% 8.0% 7.9% 3.8%4.0% 2.6% 1.1% 0.9% + 51 bp s + 55 bp s + 21 2 b p s + 17 9 b p s + 80 bp s + 83 bp s + 21 bp s + 15 bp s + 7 b p s Reaching new highs in market share
Slide 20: Significant growth potential in our ecosystem
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Total Individuals with Banking Accounts1 200 mm Total PIX Transactions3 16.0 bn Total Cards Volume6 1,036 bn Total Business9 22.0 mm Total Payroll Portfolio12 676 bn Total CC Portfolio15 595 bn Total FGTS Portfolio18 ~76 bn Total HE PF Portfolio21 25
Slide 21: Agenda: Financial Performance
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 21 Agenda 1.CEO Overview 2.Business Update 3.Financial Performance 4Q24 Earnings Presentation Santiago Stel CFO
Slide 22: Gross Loan Portfolio
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 22Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: Personal includes payroll deductible loans, overdraft, credit card renegotiations and other loans, excluding FGTS. Note 2: Home Equity includes both business and i
Slide 23: Loan portfolio growth and risk-weighted assets
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 12% 12% 31% 25%4 13% 9% R$ 4.3 Bn Δ -0.3 bn -6% R$ 3.0 Bn Δ +1.1 bn 56% R$ 3.4 Bn Δ +1.1 bn 52% R$ 11.8 Bn Δ +2.3 bn 25% R$ 7.8 Bn Δ +1.5 bn 24% R$ 5.2 Bn Δ +0.1bn 0.2% 23 Note: Definitions are in the Glossary section of this Earnings Presentation. N
Slide 24: NPL and Stage 3 formation
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 3 4 5 6 7 8 9 10 11 12 NPL > 90 days1 In % Credit Cards NPL > 90 Days per Cohort2 In % NPL 15 to 90 days1 In % NPL and Stage 3 Formation In % Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: Considering Gross Loan
Slide 25: Stable cost of risk and robust coverage ratio
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Coverage Ratio2 In % Cost of Risk1 In % 25 5.2% 5.2% 5.0% 5.1% 5.0% 2 .0 % 3 .0 % 4 .0 % 5 .0 % 6 .0 % 7 .0 % 8 .0 % 4Q23 1Q24 2Q24 3Q24 4Q24 134% 133% 130% 130% 136% 0 .0 % 2 0. 0% 4 0. 0% 6 0. 0% 8 0. 0% 10 0 .0 % 12 0 .0 % 14 0 .0 % 16 0 .0 % 18 0
Slide 26: Funding & Funding per Active Client
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 26 QoQ YoY +4% +6% Deposits per Active Client -0.9 p.p. +3.5 p.p. Loans to Deposits Ratio +10% +27% Total +11% -3% Other +9% +22% Securities Issued +9% +41% Time Deposits +11% +22% Transactional Deposits 11.6; 36% 11.0; 33% 11.7; 33% 12.3; 31% 14.4;
Slide 27: Low cost of funding as a strong competitive edge
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Avg. CDI of Quarter Cost of Funding Cost of Funding as % of CDI Cost of Funding1 In %, annualized Note: Definitions are in the Glossary section of this Earnings Presentation. Note 1: Average CDI daily rate during the quarter. 1 27 Low cost of funding
Slide 28: Consistent growth across our diversified revenue streams
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 28Note: Definitions are in the Glossary section of this Earnings Presentation. 675 67% 712 69% 802 70% 819 65% 876 67% 971 69% 1,030 70% 1,135 68% 1,247 68% 327 33% 313 31% 348 30% 447 35% 437 33% 430 31% 449 30% 541 32% 597 32% 1,002 1,024 1,150 1,2
Slide 29: Strong ARPAC trends
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 ARPAC and CTS Evolution In R$, monthly Maximizing value through economies of scale and client monetization 29 Strong ARPAC trends 13.5 14.9 17.1 17.9 17.7 18.5 19.2 19.9 20.6 30.6 28.8 29.6 30.5 30.2 30.1 30.4 32.5 33.6 17.1 13.8 12.5 12.7 12.5 11.7
Slide 30: Sequential improvements in NIM
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Sequential improvements in NIM Risk-Adjusted NIM 1.0 30 7.2% 7.4% 8.1% 7.8% 7.6% 7.8% 7.8% 8.1% 8.3% 8.4% 8.7% 9.5% 9.2% 9.0% 9.2% 9.2% 9.6% 9.7% 5.1% 4.4% 4.8% 4.6% 5.0% 5.3% 5.5% 5.6% 5.9% 4.4% 3.8% 4.1% 3.9% 4.3% 4.5% 4.6% 4.8% 5.0% 3. 0% 4. 0% 5.
Slide 31: Revenue acceleration leading to stronger operating leverage
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Total Administrative Eff. Ratio 73.4% 62.4% 53.4% 52.4% 51.4% 47.7% 47.9% 50.7% 50.1% 25.7% 18.0% 17.3% 18.0% 18.1% 14.5% 14.8% 16.7% 16.9% 47.7% 44.3% 36.1% 34.4% 33.2% 33.3% 33.1% 34.0% 33.2% 0 0 .1 0 .2 0 .3 0 .4 0 .5 0 .6 0 .7 0 .8 0 .9 4Q22 1Q23
Slide 32: Compounding profitability: ~3x higher net income in one year
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Net Income & ROE In R$ millions and in % Net Income ROE Compounding profitability: ˜3x higher net income in one year 32 Net Income Excluding Minority Interest 1.6% 1.4% 3.6% 5.7% 8.5% 9.7% 10.4% 11.9% 13.2% 1.8% 0.7% 2.7% 5.0% 8.2% 9.2% 9.8% 11.3% 12
Slide 33: Closing Remarks
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Closing Remarks 4Q24 Earnings Presentation 33
Slide 34: Starting 2025 with strong momentum
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Starting 2025 with strong momentum 34 Leading with innovation and technology Growing market share & client monetization Strengthening asset quality metrics Executing the internationalization plan Delivering operational leverage
Slide 35: Appendix
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Appendix 4Q24 Earnings Presentation 35
Slide 36: Significant excess capital in the holding structure
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 36 Tier-I capital 24.1% 23.0% 22.8% 23.7% 23.0% 20.3% 19.3% 17.0% 15.2% 0 .0 % 5 .0 % 10 .0 % 15 .0 % 2 0. 0% 2 5. 0% 3 0. 0% 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Tier-I Ratio – Banco Inter S.A. In % 2% 3% 3% -4% 6% 8% 6% 7% 6% 11% 2% 5% 7% 1
Slide 37: Balance Sheet and Income Statement
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 Balance Sheet (In R$ million) Income Statement (In R$ million) 37 12/31/2024 09/30/2024 12/31/2023 ∆QoQ ∆YoY Balance Sheet Assets Cash and cash equivalents 1,108 2,274 4,259 -51.2% -74.0% Amounts due from financial institutions 6,195 5,225 3,719 +18.
Slide 38: Non-IFRS measures and KPIs - Market Share Definitions
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 38 Non-IFRS measures and KPIs - Market Share Definitions (Page 21) Note 1: Total number of individuals with active relationships with banks in Brazil, based on data from Banco Central do Brasil (Bacen), as of December/2024. Note 2: Total number of in
Slide 39: Non-IFRS measures and KPIs
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 39 Non-IFRS measures and KPIs Activation Rate: Number of active clients at the end of the quarter Total number of clients at the end of the quarter Active clients: We define an active client as a customer at any given date that was the source of any
Slide 40: Non-IFRS measures and KPIs
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 40 Non-IFRS measures and KPIs Card+PIX TPV: PIX, debit and credit cards and withdrawal transacted volumes of a given period. PIX is a Central Bank of Brazil solution to bring instant payments among banks and financial institutions in Brazil. Card+PIX
Slide 41: Non-IFRS measures and KPIs
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 41 Non-IFRS measures and KPIs Gross loan portfolio: Loans and Advance to Customers + Loans to financial institutions Gross merchandise volume (GMV): Gross merchandise value, or GMV, for a given period as the total value of all sales made or initiated
Slide 42: Non-IFRS measures and KPIs
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4 42 Non-IFRS measures and KPIs Risk-Adjusted NIM 2.0: Net interest income − Impairment losses on Minancial assets x 4 Average of 2 Last Quarters Earning Portfolio (Loans to Minancial institutions + Securities + Derivatives + Net loans and advances to
Slide 43: O N | Q
E A R N I N G S P R E S E N T A T I O N | 4 Q 2 4