Slide 1: 1Q26 Earnings Presentation
1Q26 Earnings Presentation June 02, 2026
Slide 2: Disclaimer: Forward-Looking Statements
2 Disclaimer Forward -Looking Statements This presentation contains forward -looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements made pursuant to the safe harbor provi
Slide 3: Opening Remarks
4 André Cazotto Investor Relations, Strategy and M&A Officer Opening Remarks
Slide 4: Disclaimer: Forward-Looking Statements
* . 1c) Disclaimer P Forward-Looking Statements This jpresentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 193, as amended, «and Section 21E of the Securities Exchange Act of 1934, as amended, including statements made pursuant to the safe harbo
Slide 5: Strong Execution Leading to Guidance Beat
Strong Execution Leading to Guidance Beat 5 METRIC 1Q26 GUIDANCE 1Q26 ACTUAL GUIDANCE BEAT Total Credit Portfolio ~R$26.5B R$28.0B +5.8% Quarterly Cost of Risk ~3.7% 3.7% Aligned Managerial Revenues (1) ~R$3,150M R$3,190M +1.3% Net Interest Income ~R$1,650M R$1,704M +3.3% Gross Profit R$1,090M R$1,0
Slide 6: Performance Overview
6 Eduardo Chedid Chief Executive Officer Performance Overview
Slide 7: 1Q26 Results Highlights: Scaling with Consistency
Wallet & BanTPV 40.2 1Q25 42.7 4Q25 44.3 1Q26 62.1 67.0 68.6 +11% +2% Total Accounts 1Q25 4Q25 1Q26 119.2 157.5 156.0 +31% -1% 7 1Q26 Results Highlights Solid results in operational metrics / Scaling with Consistency Deposits 1Q25 4Q25 1Q26 21.1 28.7 30.8 +46% +7% 1Q25 4Q25 1Q26 103.1 139.4 125.4 +2
Slide 8: 1Q26 Results Highlights: Monetizing at Scale
1,996 68 1Q25 2,930 84 4Q25 3,190 322 1Q26 2,064 3,014 3,512 +70% +17% 8 1Q26 Results Highlights Solid results in financial metrics / Monetizing at Scale Note: (1) Managerial Revenues is the total net revenue and financial income excluding revenues from derivative and hedge accounting . (2) ARPAC me
Slide 9: 1Q26 Results Highlights: Efficiency Compounding
9 1Q26 Results Highlights Solid results in financial metrics / Efficiency Compounding Note: (1) We define the average cost to serve per quarterly active client as the sum of transaction expenses, technology expenses, marketing expenses (excluding customer acquisition expenses), personnel expenses (e
Slide 10: More resilient and diversified revenue model
10 20% 52% 4% 24% 1Q24 17% 35% 11% 37% 1Q25 21% 25% 23% 31% 1Q26 Float and hedge accounting Fees, commissions, and other services Secured credit products Unsecured credit products 1,137 2,064 3,512 Solid track record with a more resilient and diversified model Total Revenue and Financial Income (R$
Slide 11: Strong revenue growth, boosted by secured and non-credit revenues
11 Strong revenue growth, boosted by secured and non -credit revenues 1Q25 2Q25 3Q25 4Q25 1Q26 220 391 465 581 820 +272% +41% Note: (1) "Secured" includes interest revenues from the private payroll loan, public payroll loan, and FGTS portfolios . (2) "Unsecured" includes interest revenues from the p
Slide 12: Despite seasonality and capital increase, ROEs reaching 15.5%
12 Despite seasonality and capital increase, ROEs are reaching 15.5% Adjusted Net Income (1) (R$ MM) 1Q25 4Q25 1Q26 88 188 169 +92% -10% Quarterly Annualized Adjusted ROE (2) (%) 17.7% 1Q25 24.4% 4Q25 15.5% 1Q26 IPO capital increase Note: (1) Adjusted by the expenses of share -based long -term incen
Slide 13: Credit origination and portfolio delivering growth
13 1Q26 Results Highlights Credit origination and portfolio delivering relevant growth trends 1Q25 4Q25 1Q26 12.4 17.6 17.4 +41% -1% 1Q25 4Q25 1Q26 2.0 4.4 4.5 +119% +2% 12.9 (99% ) 0.1 (1%) 1Q25 22.5 (93% ) 1.6 (7% ) 4Q25 26.1 (93% ) 2.0 (7% ) 1Q26 13.0 24.1 28.0 +116% +17% PicPay Card TPV R$ billi
Slide 14: Recent Releases and Partnerships
PicPay Card Skip purchases Recent Releases and Partnerships Kovr Acquisition SUSEP (insurance regulator) and Central Bank CADE (Antitrust Agency) Strategic Partnership PicPay + TIM Lower CAC Higher Engagement Two -way distribution agreement • PicPay will offer TIM ´s telecom plans in app Partnership
Slide 15: New Brand Positioning: Your Next Bank
brand favorability achieved versus 44% average in the financial services category 81% "Your Next Bank" marks PicPay's evolution from a payment platform to a full -service bank — building trust and daily relevance while preserving the simplicity and innovation that set us apart. Your Next Bank New Br
Slide 16: Credit Overview
16 Danilo Caffaro Executive Vice President of Consumer Banking Credit Overview
Slide 17: Significant room to increase credit market share
Significant room to increase credit market share Private Payroll Loans Portfolio¹ Personal Loans Portfolio¹² Cards TPV³ Credit Cards Portfolio¹ 0.20% 4.93% 2.00% 2.76% 1.18% 1.53% 0.77% 1.08% Market Share (1) – 1Q26 (%) Note: (1) Market data from the Central Bank of Brazil, as of March 2026 and Marc
Slide 18: Credit growth driven by secured products and mature credit cards
18 Credit growth driven by secured products and mature credit cards Consumer Credit Portfolio Evolution R$ Bn 22.5 4Q25 Public Payroll Loans 60% Private Payroll Loans Mature Cards (12+ mo) New Cards (< 12mo) Unsecured Personal Loans 26.1 1Q26 FGTS 2% 8% (9)% 30% 6% 4% Less risk More risk +R$ 3.6 Bn
Slide 19: Private Payroll Loans: growth acceleration
19 Private Payroll Loans | A more mature product and deeper risk knowledge supported growth acceleration Origination 12.6% $FPD30 (1) Note: (1) First payment default over 30 days. (2) Expected results based on current performance and lifetime projections. Delinquency Rate (% 30 days past due) (matur
Slide 20: Private Payroll Loans: Higher-risk expansion and unit economics
20 Private Payroll Loans | Higher -risk expansion has been intentional and driven by strong unit economics, with rapid response to changing risk dynamics Note: (1) NIMAL, ROE, and Loss Absorption (LA) are lifetime projections based on current performance. (2) First payment default ove r 30 days of 1
Slide 21: Financial Results
21 Rodrigo Couto Chief Financial Officer Financial Results
Slide 22: Increasing Profitability Driven by Fast Revenue Growth and Scale Gains
Managerial Revenue (1) & Adj. Operating Expenses (2) R$ MM; % Adj. Efficiency Ratio (3)(4) & Adj. Quarterly Annualized ROE (5) Evolution % 22 Increasing Profitability Driven by Fast Revenue Growth and Scale Gains 683 739 773 772 848 1,996 1Q25 2,364 2Q25 2,601 3Q25 2,930 4Q25 3,190 1Q26 17.7% 1Q25 2
Slide 23: Financial Margin Expansion
23 Financial Margin Expansion Net Interest Income (NII) (1) & Net Interest Income Margin (NIM) (2) R$ MM & % Notes: (1) NII is calculated as financial income less interest and other financial expenses. (2) NIM is calculated as NII mul tiplied by 4 and then divided by the average of the following bal
Slide 24: Strong Credit Growth Focused on Secured Products
24 Strong Credit Growth Increasingly Focused on Secured Products Total Credit Portfolio R$ MM 42% 58% 1Q25 45% 55% 2Q25 44% 56% 3Q25 51% 49% 4Q25 54% 46% 1Q26 12,986 16,084 18,662 24,068 28,043 +3,975 +116% +17% Secured Unsecured 69% 31% 1Q26 Secured Unsecured 3,975 Portfolio growth driven by secure
Slide 25: Portfolio Classification by Stages and Coverage
25 Portfolio Classification by Stages and Coverage Total Credit Portfolio R$ MM Coverage by Stage % Stage 1 Stage 2 Stage 3 Stage 1 83.8% 84.1% 83.5% 76.4% 77.0% 56.8% 1Q25 56.6% 2Q25 59.1% 3Q25 62.0% 4Q25 63.9% 1Q26 Stage 3 1.0% 1.5% 1.1% 1.4% 1.3% Stage 2 + 3 Revision of S3 criteria in 4Q25 result
Slide 26: Evolution of Stage Formation
Evolution of Stage 2 and 3 Formation 26 Stage 3 Formation (2) Notes : (1) The stage 2 formation rate is calculated considering stage 2 credit balance in the end of the period minus the stage 2 credit balance in the previous period plus write-off in the current period divided by the total credit port
Slide 27: Loss Absorption, Cost of Risk and Coverage
27 Performance in line with Loss Absorption guidelines, Stable Cost of Credit, and Higher Portfolio Coverage Quarterly Cost of Risk (2) % Loss Absorption Ratio (1) % Note: (1) Represents all the expected losses over all the lifetime credit -related revenues of a given credit concession . (2) Quarter
Slide 28: Increasing Funding Base with Stable Cost
Increasing Funding Base with Stable Cost 95.7% 1Q25 96.4% 2Q25 94.2% 3Q25 93.6% 4Q25 94.0% 1Q26 21.2 24.8 27.8 30.0 32.5 +53% +8% Cost of Funding Third-party funds Third -party funds (1) and Cost of Funding (2) (R$ Bn & % of CDI) 28 Note: (1) Third -party funds include the following : (i) user CDBs
Slide 29: Stronger capital base, boosted by IPO Proceeds
Stronger capital base, boosted by IPO Proceeds CET1 ratio (R$ billion; % of RWA) 29 2.0 (8.5%) 1.5 (6.2%) 0.5 (2.0%) 1Q26 16.7% Excess Capital Held at PicS N.V. Excess Capital Held at PicPay Bank Required Regulatory Capital (1) Including Conservation Buffer Note: (1) The required regulatory capital
Slide 30: Final Remarks
30 Eduardo Chedid Chief Executive Officer Final Remarks
Slide 31: 2Q26 Guidance (ex-Kovr)
2Q26 Guidance (ex -Kovr ) 31 Total Credit Portfolio Quarterly Cost of Risk Managerial Revenues (1) Net Interest Income Gross Profit IFRS Net Income Adjusted EBT Adjusted Net Income IFRS EBT 1Q26 RESULTS R$ 28.0 B 3.7% R$ 3,190 M R$ 1,704 M R$ 1,096 M R$ 152 M R$ 248 M R$ 169 M R$ 222 M QoQ GROWTH +1
Slide 32: Resilient Portfolio, Confident Outlook
32 Resilient Portfolio, Confident Outlook Although some market credit indicators suggest some deterioration, a closer look at PicPay's portfolio - which is more resilient by design - reassures us about our risk -adjusted return policy and our ability to continue growing profitably. Focus on Risk Adj
Slide 33: Q&A
3 3 Q&A
Slide 34: Non-IFRS Measures Reconciliation
3 4 Non-IFRS Measures Reconciliation
Slide 35: Adjusted Profit Before Income Taxes Reconciliation
35 Adjusted Profit Before Income Taxes Reconciliation 1Q26 4Q25 1Q25 ΔQoQ ΔYoY (in R$ M) % Profit before income taxes 221.7 (33.2) 76.6 n.a. 189.4% Adjustments : Expenses related to share -based long -term incentive plan 26.8 210.1 - (87.3)% n.a. Expenses related to provision for contingencies - 64.
Slide 36: Adjusted Profit Reconciliation
36 Adjusted Profit Reconciliation 1Q26 4Q25 1Q25 ΔQoQ ΔYoY (in R$ M) % Profit for the period 151.7 827.8 88.1 (81.7%) 72.2% Adjustments : Expenses related to share -based long -term incentive plan 17.6 196.1 - (87.3)% n.a. Expenses related to provision for contingencies - 54.2 - n.a. n.a. Recognitio
Slide 37: Glossary
Glossary
Slide 38: Glossary
Glossary • Adjusted Efficiency Ratio : Efficiency Ratio considers the sum of transactional expenses , technology expenses , marketing expenses , personnel expenses , administrative expenses , and other expenses divided by total revenue and financial income minus interest and other financial expenses
Slide 39: Glossary
Glossary • Margin from credit products : We calculate margin from credit products as the sum of total net revenue from transaction activities and other services and financial income from our credit operations (cards and loans ) minus cost of funding from these products . • Margin from credit product
Slide 40: Glossary
Glossary • Total Accounts : We define total accounts as the number of PicPay accounts opened by individuals , excluding accounts that have been charged -off, blocked or voluntarily closed by our consumers . Our management uses total accounts data to measure the growth of our brand and to evaluate ou
Slide 41: Thank you
Thank you