Slide 1: Investor Day 2023 XP Inc.
INVESTOR wa DAY = 2023 XP=inc. 7)
Slide 2: Welcome
2 Welcome Andre Parize Head of Investor Relations
Slide 3: Agenda for Today
3 Agenda for Today Break Final Remarks & Q&A CEO & Senior Executives 5 Financial Deep Dive Bruno Constantino 4 Our Powerful Ecosystem Jose Berenguer 3 Retail Deep Dive Guilherme Sant’Anna 2 XP Strategy & Outlook Thiago Maffra 1
Slide 4: Important Disclosure Forward Looking Statements
4 Important Disclosure Forward Looking Statements IN REVIEWING THE INFORMATION CONTAINED HEREIN, YOU ARE AGREEING TO ABIDE BY THE TERMS OF THIS DISCLAIMER. THIS INFORMATION IS BE ING MADE AVAILABLE TO EACH RECIPIENT SOLELY FOR ITS INFORMATION AND IS SUBJECT TO AMENDMENT. This material is prepared by
Slide 5: XP Strategy & Outlook
XP Strategy & Outlook INVESTOR DAY XP INC. 2023 Thiago Maffra CEO
Slide 6: Our People & Culture… My Top Priority
6 Our People & Culture… My Top Priority Our Key Competitive Advantage to… Innovate in Financial Services Develop Products Faster Serve Clients with Superior Quality Managed & Reinforced by Our XP Management System… Aligned Incentives Partnership Structure Mission - Driven Focus
Slide 7: Next Phase of Growth Based on Higher Quality Experience
7 • More Curated Client Approach for Investing • Better Aligned Incentives for Advisors • Smarter XP Apps • Grow Services for Corporate & SMB Clients • Better Business Solutions by Leveraging the XP Ecosystem Retail Investments 1 Retail Cross - Sell 2 Corporate & SMB 3 Higher Quality Advice Higher Q
Slide 8: 3 Phases of Growth
8 • More Curated Client Approach for Investing • Better Aligned Incentives for Advisors • Smarter XP Apps Retail Investments 1 Retail Cross - Sell 2 Corporate & SMB 3 Higher Quality Advice 3 Phases of Growth
Slide 9: Waves of Our Evolution
9 3 Waves of Our Evolution XP Differentiation XP Evolution Over Time 2. Distribution First Open Platform Largest Reach & Channels Best Functionality & Experience Product Access Investor Education Client Acquisition Channel Diversification Specialized Advisors Superior Functionality Smarter Curated A
Slide 10: Genius XP
Genius XP – Proprietary software to personalize asset allocation & risk management Portfolio Optimization Financial Planning Training & Incentives XP’s 3 rd Wave Empowering XP Advisors to Provide Enhanced Quality & Experience in the Market Match client’s personal objectives and investment portfolio
Slide 11: XP Invested to Scale & Expand Significantly Since the IPO
11 3Q’19 @IPO 3Q’23 Current 3.1 x Client Assets 6.7 % 11.3 % + 460 bps Market Share 1 2.9 x Active Clients XP Invested to Scale & Expand Significantly Since the IPO R$ 350 Billion R$ 1,080 Billion 1.5 Million 4.4 Million Note: 1 – Investments for Individuals Market Share, according to Anbima (self -
Slide 12: Leading the Evolution of the Advisory Profession in Brazil
12 XP is Leading the Evolution of the Advisory Profession in Brazil Financial Consultants Wealth Managers Retail Financial Advisors Broker as a Service (White label) Independent Financial Advisors The Premier HUB for All Types of Financial Entrepreneurs
Slide 13: We Faced Significant Macro Headwinds
13 We Faced Significant Macro Headwinds... Note: 1 - Time Deposits + LCI + LCA per Central Bank Data; 2 - Includes Fixed Income, Equities and Multimarket Funds. 2,400,000,000 2,600,000,000 2,800,000,000 3,000,000,000 3,200,000,000 3,400,000,000 3,600,000,000 3,800,000,000 4,000,000,000 -400,000,000
Slide 14: Expansion of Our Distribution Efficiency
14 Expansion of Our Distribution Efficiency In Our Operations …We Weathered the Storm with a Combination of: x Empowerment of Our Advisors x Increasing Our Ability to Reach to Clients • Bigger Salesforce • More Advisor Channels ..and Positioning XP as a Stronger Company for the Next Cycle Providing
Slide 15: Our Ambition: Expand Our Leadership Even Further
15 Our Ambition: Expand Our Leadership Even Further IPO 2019 3 Q23 2026 Growing XP Market Share 50 - 150bps Per Year 7 % 11 % Market Share Client Assets¹ Long - term Ambition 14 - 15 % + 2 x Note: 1 – Investments for Individuals Market Share, according to Anbima and Company data.
Slide 16: 3 Phases of Growth: Retail Cross-Sell
16 Retail Investments 1 Retail Cross - Sell 2 Corporate & SMB 3 Higher Quality Engagement • Unlock Opportunity with Premium Clients • Better Product Bundling to Serve Across Client’s Financial Life 3 Phases of Growth
Slide 17: Cross-Sale of New Verticals Will Continue to Grow Rapidly
17 Cross - Sale of New Verticals Will Continue to Grow Rapidly New Vertical Products • Retirement Plans • Cards • Loans • Insurance • FX • Digital Account • Global Investments • ...More to come R$ 0.1 bn 2019 3Q’23 LTM + 14 x R$ 1.8 bn Revenue from New Verticals¹ Note: 1 – Includes only Individuals.
Slide 18: Cross-Sell Reinforces Our Core Investments
18 Cross - Sell Reinforces Our Core Investments Credit Card XP Card Becomes Primary Credit Card ~ 4 Months Share of Wallet + 11 % NPS + 7 % Positive Feedback Loop as Investment Clients Adopt Credit Card Example: Note: Internal data as of September 30 th , 2023.
Slide 19: Cross-Sell Product Penetration
19 Cross - Sell Product Penetration Product Penetration % of Total Active Clients¹ Credit Cards 20 % Retirement Plans 5 % Primary Digital Accounts 2 % 1 % 1 % 1 % 1 % Global Investments FX Insurance Loans Attractive Retail Opportunity Increase Penetration in Cards Replicate Cards Penetration in Othe
Slide 20: Our Goal for Cross-Sales
20 Our Goal for Cross - Sales¹: + R$ 2 - 3 Billion in Incremental Revenue 2019 3Q’23 LTM 2026 R$ 3.8 - 4.8 Bn x More Products x More Penetration x More Reinforcement R$ 0.1 bn R$ 1.8 bn Note: 1 – Includes only Individuals.
Slide 21: 3 Phases of Growth: Corporate & SMB
21 • Grow Services for Corporate & SMB Clients • Better Business Solutions by Leveraging the XP Ecosystem Retail Investments 1 Retail Cross - Sell 2 Corporate & SMB 3 Higher Quality Service 3 Phases of Growth
Slide 22: What We Have Achieved So Far
22 What We Have Achieved So Far… R$ < 0.1 bn 2019 3Q’23 LTM + 60 x R$ 0.8 bn Corporate & SMB¹ • Corporate Derivatives • FX • Loans Note: 1 – Includes Corporate and SMB ex - investments.
Slide 23: Corporate & SMB Is a Massive Untapped Opportunity
23 Corporate & SMB Is A Massive Untapped Opportunity We Estimate This Segment is ~10 Years Behind the Innovations & Services We Brought to Retail Investments Addressable Market Advantaged Pricing Business Relationships Growing Product Suite Large. Poorly Served. Ripe for Disruption. XP Developed the
Slide 24: Corporate & SMB Product Penetration
24 Corporate & SMB Product Penetration Product Penetration % of Total Active Clients¹ FX 5 % Derivatives 3 % Loans 2 % < 1 % Insurance Wholesale Opportunity Leverage on Existing Relationships Increase Penetration in New Products Note: 1 – Internal data as of September 30 th , 2023. Loans + Energy 2
Slide 25: Our Goal for Corporate & SMB
25 Our Goal for Corporate & SMB¹: + R$ 1 - 2 Billion in Incremental Revenue 2019 3Q’23 LTM 2026 x More Products x More Penetration x More Reinforcement R$ 1.8 - 2.8 Bn R$ < 0.1 bn R$ 0.8 bn Note: 1 – Includes Corporate and SMB ex - investments.
Slide 26: XP Evolution Since the IPO
26 XP Evolution Since the IPO Democratizing Investing Empowering Investors Higher Quality Client Experience IPO • Retail • Banking • Asset Management Retail Today Mission Business Lines Key Focus Cross - Sell New Verticals Growth Drivers Win More Clients Expand Salesforce Increase Engagement Mor
Slide 27: Retail Deep Dive
Retail Deep Dive INVESTOR DAY XP INC. 2023 Guilherme Sant’Anna Retail & Distribution Executive Director
Slide 28: Retail Opportunity
Retail Opportunity INVESTOR DAY XP INC. 2023 03. Retail Deep Dive
Slide 29: Real Opportunity to Capture Additional Market Share
Real Opportunity to Capture Additional Market Share Retail Asset TAM by 2028 1 R$ 11 trillion Sizable Market Opportunity Underserved Retail Investors Clear Path to Expand Our Advisor Network 21 % Source and notes: 1 – Internal forecast, calculated based on data from Anbima and Susep; 2 – Estimated n
Slide 30: Platform Value Proposition
INVESTOR DAY XP INC. 2023 Platform Value Proposition 03. Retail Deep Dive
Slide 31: Providing a Differentiated Value Proposition
31 Providing a Differentiated Value Proposition Better Products Better Access Better Learning Journey Better Experience Low - Cost, Digital Financial Products to Help Clients Open Platform to Access the Best 3 rd Party & Proprietary Financial Products Help Investors to Manage Their Finances Effectiv
Slide 32: Our Products Platform Enables Advisors to Provide Superior Client Experience
Our Products Platform Enables Advisors to Provide Superior Client Experience Broadest Investment Products + 500 + 200 Growing Range Financial Products XP Funds 32 3 rd Party Funds Equities & FI + 160 Independent Asset Managers + 1,000 Investment Products PE Funds New Issuances & More Retirement Loan
Slide 33: We Launched New Financial Products in the Last Years
33 We Launched 9 New Financial Products in the Last 5 Years 2019 2020 2022 2023 2021 Retirement Plans Secured Loans Credit Card Digital Account Global Investments FX Debit Card Proprietary Insurance … And More to Come
Slide 34: Our Retail Products Are Designed to Serve Clients Across their Financial Journey
34 Invest Money 1 I nvestment P roducts & Retirement Plans Save Money Digital Bank Account Spend Money Credit & Debit cards Borrow Money Loans Protect Assets I nsurance Pr oducts 2 3 4 5 Our Retail Products Are Designed to Serve Clients Across their Financial Journey 34
Slide 35: Advisor Value Proposition
Advisor Value Proposition INVESTOR DAY XP INC. 2023 03. Retail Deep Dive
Slide 36: INVESTOR DAY XP INC. 2023
INVESTOR DAY XP INC. 2023 36
Slide 37: Creating the Largest & Most Successful IFA Network in Brazil
17 top 20 IFAs Are with XP IFA Offices Ranked by # of Advisors 37 1 Invest Smart 2 EQI 3 Monte Bravo 4 Blue3 5 Avel 6 Svn 7 Valor 8 Messem 9 Manchester 10 Alta Vista 11 Wise 12 Acqua 13 Saron 14 Braúna 15 Criteria 16 Liberta 17 Manhattan 18 Faz Capital 19 Riva 20 Veedha Rapidly Growing XP IFAs (in t
Slide 38: We Have Replicated Our IFA Success in New Channels
38 Notes: 1 – New B2B Channels (RIAs and Wealth Managers) and B2C; 2 – From January 2021 to September 2023. 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23 +129 % Client Asset CAGR (Jan’21 – Sep’23) +81 % Active Advisors (33 - month CAGR²) +40 % Client Assets (33 - month CAGR²) +34 % Active Clients (33 - month CAGR²)
Slide 39: White-Label App for Advisors to Tailor the Client Experience
39 White - Label App for Advisors to Tailor the Client Experience Partner Layout (app, portal, e - mail) Features 100% flexible (drag n drop) XP security level embedded Roadmap XP 100% incorporated No additional resources requested for the partner ( eng. , design, product) Synchronized Updates acr
Slide 40: Training & Education Across the Advisor Lifecycle
40 Source: Advisor surveys and internal performance analysis. Hub benchmarking is based on interviews with advisors that worked on other platforms and interviews with tech professionals with knowledge on the subject. Note: 1 - in a 6 month window Training & Education Across the Advisor Lifecycle New
Slide 41: Proprietary Tech & Data Tools Empower Advisors Throughout the Day
41 Proprietary Tech & Data Tools Empower Advisors Throughout the Day Daily Preparation & Review Relationship Management & Execution Closing XP HUB Data & Intelligence Proprietary Tools ▪ Performance reports ▪ Client satisfaction tracking ▪ Educational content ▪ A.I. portfolio recommendations ▪ Clien
Slide 42: Most Complete Digital Empowerment Applications
42 40% Digital Feature Completeness¹ Most Complete Digital Empowerment Applications Complete Digital Offering U.S. Player 1 U.S. Player 2 Brazil Player 1 Brazil Player 3 Brazil Player 2 80 % 60 % 60 % 50 % 40 % 40 % Predictive Models Expert Allocation & Digital First ▪ Efficient recommendations on p
Slide 43: Strong Track Record of Helping Advisors Succeed
43 Source: internal data, considering all clients for selected channels. M0 M1 M2 M3 M4 M5 M6 2020 2021 2022 2023 M0 M1 M2 M3 M4 M5 M6 2020 2021 2022 2023 Accumulated Net Inflow Per Advisor, First 6 Months After Registration Strong Track Record of Helping Advisors Succeed… Advisors Grow AUC as they
Slide 44: Advisor Service Excellence Key Strategic Driver
\ Advisor Service Excellence Key Strategic Driver 44 Source and notes: 1 – NPS attributes are mapped on our internal NPS survey; 2 – the 7 portfolio strategies that we track are equ ities, fixed income inflation indexed, fixed income interest rate indexed, fixed income prefixed, hedge funds, alterna
Slide 45: Growth Strategy
INVESTOR DAY XP INC. 2023 Growth Strategy
Slide 46: Regionalization Strategy
46 Regionalization Strategy Large Opportunity Across Brazil Local Investment Lounge for retail clients to meet with their advisors ▪ Builds awareness & trust ▪ Targets specific, high value regions Investment Lounge Launch Plan ▪ 1st Concept Opened in Manaus ▪ 5 XP Lounges in 2024 ▪ 5 XP Lounges in 2
Slide 47: Our Powerful Ecosystem
Our Powerful Ecosystem INVESTOR DAY XP INC. 2023 José Berenguer CEO XP Bank
Slide 48: Introduction
INVESTOR DAY XP INC. 2023 48 Introduction 03. Our Powerful Ecosystem
Slide 49: We Disrupted the Market By Creating a Powerful Ecosystem Around Retail Investors
Retail I nvestments We Disrupted the Market By Creating a Powerful Ecosystem Around Retail Investors Changing the way people invest in Brazil 49 49
Slide 50: Then We Added Complementary Capabilities
Retail I nvestments Asset Management Wholesale Banking …Then We Added Complementary Capabilities to Extend Our Services & Reach Extending the Value of Our Ecosystem 50 50
Slide 51: Enabling Us to Expand Vertically
Retail I nvestments Asset Management Wholesale Banking …Enabling Us to Expand Vertically and Build Deeper Relationships with Clients 51 51
Slide 52: The Enhanced XP Ecosystem Provides Significant Competitive Advantages
Retail I nvestments Asset Management Wholesale Banking The Enhanced XP Ecosystem Provides Significant Competitive Advantages 52 52
Slide 53: The Enhanced XP Ecosystem Provides Significant Competitive Advantages
& Data Retail Superior Value Proposition • Innovative Products • Better Advice • Long - term Relationships Corporate & Institutional Inv. • Better Distribution • Better Trade Execution Operating Efficiencies • Unique Market Making Capabilities • Recycling Portfolio Risk • More Effective Product Dist
Slide 54: Wholesale Banking
INVESTOR DAY XP INC. 2023 54 Wholesale Banking 03. Our Powerful Ecosystem
Slide 55: Wholesale Banking Solutions
Wholesale Banking Solutions Investment Banking Global Markets Broker Dealer Banking Products 55
Slide 56: Today We Are Leaders in Different Markets
Today We Are Leaders in Different Markets # 1 Structured Notes (COE) Issuer¹ # 3 In DCM Offerings ³ # 2 In Securitization of CRI & CRA³ # 1 OTC B3 Rates Volatility² # 1 OTC B3 Index Offshore Volatility² Notes: 1 – According to B3 Data as of August 2023; 2 - According to B3 Data as of October 2023; 3
Slide 57: Just a Matter of Time to Replicate the Success We Had with Retail
Its Just a Matter of Time… to Replicate the Success We Had with Retail in Wholesale Banking Leveraged by unique combination of Retail and Wholesale distribution Sophisticated Retail Investors Creative Product Structuring and Tailored Solutions Well - Established Wholesale Franchise Broader Access to
Slide 58: Global Markets
Global Markets XP is the leader in the markets in which we operate, providing solutions through derivatives, FX, and structured solutions. Unparallel Profitability and Low Risk Combination Powered by Retail and Institutional Deal Flow Institutional Deal Flow Retail Deal Flow Recycling Risk Our Marke
Slide 59: Our Market Risk Comes from a Market Making Business
Notes: 1 - Data is shown on a weekly basis; 2 – Average from the last twelve months – Data as of September 30th, 2023 Our Market Risk Comes from a Market Making Business Market Making Book Performance¹ R$ 27 Mn Average² Daily VaR , 95% 0 Negative Months in 3 Years 50 100 150 200 250 300 350 Jan - 21
Slide 60: Roadmap for 2026 – Corporate & SMB
Roadmap for 2026 – Corporate & SMB¹ 60 Gross Revenue (in R$ Bn) 2019 3Q’23 LTM 2026 R$ 1.8 - 2.8 Bn R$ < 0.1 bn R$ 0.8 bn Note: 1 – Includes Corporate and SMB ex - investments. Gross Revenue by Product 60% 3Q’23 LTM 2026 20% 25 - 35% 20% 25 - 35% 25 - 35% Current Products Grow client base, mainly in
Slide 61: Financial Deep Dive
Financial Deep Dive INVESTOR DAY XP INC. 2023 Bruno Constantino CFO
Slide 62: Financial Overview
INVESTOR DAY XP INC. 2023 62 Financial Overview 04. Financial Deep Dive
Slide 63: XP Has Delivered Solid Value Creation Since the IPO
63 3Q’19 @IPO 3Q’23 LTM Current 3.2 x Gross Revenue 18.6 % 26.0 % + 735 bps Net Income Net Margin XP Has Delivered Solid Value Creation Since the IPO... R$ 4.7 Billion R$ 14.8 Billion 4.5 x R$ 3.6 Billion R$ 0.8 Billion
Slide 64: Improving Our Model Into A More Diversified Revenue Stream
2019 3Q23 LTM New Verticals + Corporate & SMB Retirement Plans Cards Digital Account Loans Insurance Global Investments FX Corporate & SMB¹ 64 64 Note: 1 – Includes Corporate and SMB ex - investments. 2.6 % 17.8 % 14 x New Verticals and Corporate & SMB as a % of Total Gross Revenue ...Improving Our
Slide 65: While Maintaining Strict Cost Discipline
...While Maintaining Strict Cost Discipline 3Q19 3Q20 3Q21 3Q22 3Q23 Efficiency Ratio¹ (%) Compensation Ratio³ (%) Efficiency Ratio Ex - SBC² 37.3% 33.5% 37.6% 38.9% 37.3% 38.4% 33.0% 41.7% 36.5% 3Q19 3Q20 3Q21 3Q22 3Q23 Compensation Ratio Ex - SBC² 25.7% 22.0% 24.8% 25.3% 23.7% 27.9% 22.6% 29.8% 24
Slide 66: Retail Unit Economics
INVESTOR DAY XP INC. 2023 66 Retail Unit Economics 04. Financial Deep Dive
Slide 67: XP Retail Investment Leadership
XP Retail Investment Leadership MORE Active Clients MORE Advisors MORE Assets 4.4 million Active Clients 187 % Growth since IPO 14.3 k Advisors 70 % IFAs Market Share¹ R$ 1.1 trillion Client Assets 11 % Market Share² 67 Notes: 1 – Considers Ancord (Brazilian Association of Securities Dealers) Data;
Slide 68: Full Financial Platform: New Products Launched
Digital Account 2022 Full Financial Platform x Capture Greater Wallet Share x Diversify Our Revenue Streams x Improve Lifetime Value We Launched Several New Products in the Last 4 Years Rapid Scalability Of Our Ecosystem + 868 thousand Active Credit Cards + 77 thousand Primary Active Accounts¹ R$ 27
Slide 69: Average Products per Client Across All Cohorts
Average Products per Client Across All Cohorts¹ 0 5 10 15 20 25 30 1.00 1.25 1.50 1.75 2.00 0 5 10 15 20 25 30 1.00 1.25 1.50 1.75 2.00 Advised Clients (B2B + B2C) Self - Directed (Rico + B2C Online) Q1 2021 Q3 2023 Registration date Months After Registration XP Advisory Improves Cross - Sell + 70 %
Slide 70: Cross-Sell Product Penetration
Cross - Sell Product Penetration 15 54 2 42 Active Clients with Multiple Products % of Total Active Clients (Only B2B and B2C) 1Q21 2Q22 1 Q23 2Q23 70 Note: Data includes only XP brand (B2B and B2C). Advised Clients Self - Directed Clients % % % % 3 Q21 2Q21 3 Q22 4Q22 1 Q22 4 Q21
Slide 71: Cross-Sell Provides a Positive Impact to ARPAC & Churn
Cross - Sell Provides a Positive Impact to ARPAC & Churn +74 % ARPAC Increase +39 % ARPAC Increase 1+ Products 2+ Products 3+ Products 100 % of Clients 50 % of Clients 22 % of Clients 1+ Products 2+ Products 3+ Products 100 % of Clients 50 % of Clients 22 % of Clients - 43 % Lower Churn - 36 % Lower
Slide 72: Improving Client Lifetime Value
More Cross - Sell Better Retention Higher Share of Wallet More ARPAC Higher Lifetime Value …Improving Client Lifetime Value 5 x Higher Lifetime Value Cross - Sold Clients Have 72
Slide 73: Balance Sheet
INVESTOR DAY XP INC. 2023 73 Balance Sheet 04. Financial Deep Dive
Slide 74: We Operate with a Comfortable Balance Sheet
2021 2022 3Q23 26.9% 25.5% 22.1% We Operate with a Comfortable Balance Sheet ... Managerial BIS 1 (%) x Comfortable Capital Position Sustaining business dynamics x Growth Opportunities Poised to disrupt new businesses while returning capital to shareholders 1 – Company data based on Central Bank met
Slide 75: Maintaining an Asset-light Approach
...Maintaining an Asset - light Approach XP Inc. Total RWA¹ (R$ billion) Total RWA / Total Assets vs. Peers ² 34% 31% 34% 0 10 20 30 40 50 60 70 80 0 80 2021 2022 3Q23 46.7 59.5 78.2 Total RWA RWA / Total Assets 45% 88% 83% 89% 86% 68% 19% 4% 2% 5% 23% 36% 8% 14% 9% 9% 9% 3% 100 100 100 100 100 100
Slide 76: Total Credit Portfolio
R$ billion Secured Unsecured Total Loans 18.9 1.1 20.1 Credit Card 4.6 2.2 6.8 Corporate Securities 2.9 10.0 12.9 Credit Portfolio 26.4 13.3 39.8 76 • Credit Portfolio Note: 1 – Gross of Expected Credit Losses. Data as of September 30 th , 2023. New Disclosure: Total Credit Portfolio 1 Main Activiti
Slide 77: Liquidity Above Industry Average
0 50 100 150 200 250 300 Liquidity Above Industry Average... 77 3Q22 4Q22 1Q23 2Q23 3Q23 38.0 39.1 40.4 55.1 49.2 212 % 217 % Eligible High Quality Liquid Assets¹ (R$ Bn) Liquidity Coverage Ratio¹ 77 Note: 1 – Company Data based on Central Bank Methodology.
Slide 78: Roadmap For 2026
INVESTOR DAY XP INC. 2023 78 Roadmap For 2026 04. Financial Deep Dive
Slide 79: Roadmap for 2026: Additional Gross Revenue Levers
R$ 14.8 Bn 3Q23 LTM 2026E Roadmap for 2026 Additional Gross Revenue Levers + New Verticals Cross - Sell¹ + Market Share + Turnover + Mix + Corporate & SMB² 79 79 R$ 5 - 7 Bn R$ 2 - 3 Bn R$ 1 - 2 Bn R$ 22.8 - 26.8 Bn Note: 1 – Includes only Individuals; 2 – Includes Corporate and SMB ex - investments
Slide 80: Final Remarks & Q&A
Final Remarks & Q&A INVESTOR DAY XP INC. 2023 Thiago Maffra CEO
Slide 81: Final Remarks
INVESTOR DAY XP INC. 2023 81 Final Remarks 05. Final Remarks & Q&A
Slide 82: XP Is Better Positioned Today vs 2019
82 XP Is Better Positioned Today vs 2019 x Bigger. Stronger. Better. Market Position Business Model Growth Engine Operating Efficiency Long - Term Value 1 2 3 4 5 x More Diversified & Resilient x Battle Proven in a Difficult Market x More Efficient with Better Ratios x Greater Ability to Create Valu
Slide 83: Q&A
INVESTOR DAY XP INC. 2023 83 Q&A 05. Final Remarks & Q&A
Slide 84: Investor Day 2023 XP Inc.
INVESTOR wa DAY = 2023 XP=inc. 7)