Pagseguro Digital Ltd. · NYSE:PAGS
Pagseguro Digital — Q4 2025 Earnings Presentation
24 slides from Pagseguro Digital's earnings presentation, Mar 4, 2026
Slide 1: Q4 2025 Earnings Presentation
Q4 2025 Earnings Presentation March 04, 2026 PagSeguro Digital Ltd. (NYSE: PAGS)
Slide 2: Forward-looking statements and Non-GAAP financial measures
Forward-looking statements and Non-GAAP financial measures Forward-looking statements This presentation, prepared by PagSeguro Digital Ltd (“we” or the “Company”), is solely for informational purposes. The information in this presentation does not constitute or form part of, and should not be constr
Slide 3: Q4 2025 Highlights
Q4 2025 Highlights 3
Slide 4: Strong top-line growth of 16% and 15% total shareholder yield
2025 HIGHLIGHTS Strong top-line growth of 16% and 15% total shareholder yield Net Revenue Ex-ITC | R$ Banking Net Revenue | R$ Payment Net Revenue | R$ Net Income¹ | R$ | non-GAAP Financial Highlights (FY 2025) 13.4B 2.7B 10.7B 2.4M (+16% YoY) (+51% YoY) (+9% YoY) (+4% YoY) Value Creation Total Buyb
Slide 5: Business execution leads to strong returns in Q4, ROAE +18.4%
4Q 2025 HIGHLIGHTS Business execution leads to strong returns in Q4, ROAE +18.4% TPV | R$ Expanded Credit Portfolio¹ | R$ Total Deposits | R$ Operational Highlights 142B 50B 41B (+10% QoQ) (+3% YoY | Total Loans +33% YoY) (+13% YoY) Net Revenue Ex-ITC | R$ Net Income2 | R$ | non-GAAP ROAE3 | % | non
Slide 6: Consistent strategy execution, with full delivery of 2025 guidance
2025 Guidance Consistent strategy execution, with full delivery of 2025 guidance FY 2025 FY25 Guidance Gross Profit¹ +6.9% % y/y 5% 7% EPS (GAAP, diluted)² +20.6% % y/y 13% 15% Capital Expenditures R$ Billion R$ 2.3B 2.2B 2.3B YTD performance Guidance range 1. Including the financial costs related t
Slide 7: Consistent track record in creating shareholder value, EPS Up ~2.8x
Company Overview Consistent track record in creating shareholder value, EPS Up ~2.8x Number of shares repurchased (M) EPS w/o buyback (diluted, GAAP)(R$)¹ 50 7.99² +15.8% 7.51³ 40 CAGR 6.62 (2018-2025) 6.9 30 6.1 Covid-19 Pandemic 5.10 4.57 20 4.15 4.9 3.92 4.5 4.2 3.51 10 3.9 2.86 3.5 3 2.9 0 2018
Slide 8: Business Units
Business Units 8
Slide 9: Significant opportunities to drive future growth
BUSINESS OVERVIEW Significant opportunities to drive future growth PAGBANK MARKET SHARE Includes self-employed individuals in the informal economy 6.3 MEI - Individual-like Merchants 19.1M 40.5 ACTIVE MERCHANTS 15.6% MILLION ME - Micro Businesses 16.3M 4.5M MILLION¹ EPP - Small Businesses 0.6M ACTIV
Slide 10: Higher transactionality and engagement
Banking Higher transactionality and engagement Cash-in¹ Cash-in per Active Banking Client R$ Billion R$ Thousand Highlights +11% +13% ▪ Cash-In 91 5.3 Consistent increase in inflows not related to acquiring due to 82 83 4.7 4.7 strength of our banking offering, as PIX becomes an important component
Slide 11: Credit portfolio +33%, NPLs -47% industry average, origination rising
Credit Credit portfolio +33%, NPLs -47% industry average, origination rising Credit Portfolio Credit Portfolio Evolution R$ Billion % Credit Portfolio Q4-24 YoY % Q3-25 QoQ % +33% 3Q25 Q4-25 4.6 Payroll Loans 3.3 2.5 31% 3.0 10% 4.2 Credit Card 0.9 0.8 17% 0.8 10% 3.4 72% 72% Working Capital 0.4 0.1
Slide 12: Deposits +13% YoY with Declining Funding Costs
Funding Deposits +13% YoY with Declining Funding Costs Total Funding R$ Billion Highlights +5% 42.9 43.7 44.7 4.1 ▪ Resilient level of deposits despite macro scenario 6.7 4.3 +13% ▪ Cost Efficiency: 7th quarter of consistent cost reduction as % of CDI 36.1 39.4 40.7 ▪ Increased distribution through
Slide 13: Financial Results
Ud: bs FINANCIAL ~)% = RESULTS
Slide 14: Revenue and Gross Profit Margin
Revenue and Gross Profit Margin Banking growth and better payments trends drive profitability Gross Profit Total Revenue and Income¹ R$ Million R$ Million +47% +54% 744 757 536 544 Banking 354 513 4Q24 3Q25 4Q25 4Q24 3Q25 4Q25 +6% -5% 2,642 2,667 2,790 1,589 1,514 1,391 +9% Payments 4Q24 3Q25 4Q25 4
Slide 15: Disciplined Cost Management: operating leverage +320bps YoY
P&L Disciplined Cost Management: operating leverage +320bps YoY Total Expenses Highlights R$ Million Q4-25 Q4-24 YoY % Q3-25 QoQ % 2025 2024 YoY % Q4-25 Q4-24 YoY % Q3-25 QoQ% 2025 2024 YoY % Total Revenue and Income (ex-ITC) 3,546 3,155 12% 3,411 4% 13,411 11,612 16% 1. 1 Financial Costs, impacted
Slide 16: ROAE of 18.4% in 4Q25, +100bps YoY, combined with a solid capital structure
Profitability Analysis ROAE of 18.4% in 4Q25, +100bps YoY, combined with a solid capital structure Net Income (Non-GAAP) EPS diluted (non-GAAP) Equity and ROAE R$ Million R$ Billion ROAE (non-GAAP, annualized) +7% 678 18.4% 631 +100 bps +16% 17.3% 571 2.33 2.01 1.96 Equity 14.7 14.9 14.6 Q4-24 Q3-25
Slide 17: Capital strength and value creation: R$2.1bn returned to shareholders in 2025
Capital Structure Capital strength and value creation: R$2.1bn returned to shareholders in 2025 Highlights Buyback Execution and Dividend Payout Includes R$ +330 million 1 in distributed dividends + 1. Current buyback program (USD 200M) is ~80% executed, including shares buyback in 23.271 January an
Slide 18: FY2026 Guidance
OUTLOOK FY2026 Guidance 2026 Guidance 2029 Long-Term Ambition Credit Portfolio 25% - 35% R$ 25B % y/y (year-end 2029) Gross Profit > 10% CAGR % y/y 6% 9% (2025-2029) EPS (Non-GAAP, diluted) > 16% CAGR 9% 13% % y/y (2025-2029) CAPEX R$ 1.8B 2.0B n.a. Please see the Appendix for a reconciliation of th
Slide 19: Closing
Closing d \ é Remarks | / i
Slide 20: Closing Remarks
Closing Remarks Closing Remarks 4Q 2025 Takeaways ▪ Credit growth accelerating, with disciplined underwriting and healthy asset quality (NPL 90: -47% industry average), supported by working-capital solutions from our own active client base; ▪ Acquiring volumes recovery since mid-3Q, consolidating in
Slide 21: Q&A
Q&A Earnings Presentation 21
Slide 22: Appendix
Appendix 4Q 2025 Earnings Presentation March 04, 2026 PagSeguro Digital Ltd. (NYSE: PAGS) 22
Slide 23: Net Income Reconciliation and EPS
APPENDIX Net Income Reconciliation and EPS R$ Million Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Net Income | GAAP 599 525 537 554 502 Non-GAAP Items 32 29 28 17 34 Long-term Incentive Plan 28 23 21 3 31 Amortization of Fair Value Adjustment 5 5 5 5 3 Amortization of Capitalized Expenses of Platforms Development
Slide 24: Investor Relations Media Press
YouTube Logo PNG, Transparent YouTube Logo Icon Free DOWNLOAD Linkedin - ícones de mídia social grátis Investor Relations Website: https://investors.pagbank.com/ E-mail: ir@pagbank.com Media Press Website: https://xcom.net.br/ E-mail: pagbank@xcom.net.br
PagSeguro Digital Ltd. Class A Common Shares — Q4 2025 Earnings Presentation on 6ix