Porto Seguro S.a.BMFBOVESPA: PSSA3

Release 4Q25

· MarketScreener
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23 2 -X-40P77G230E81- A2P9S-RI

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G S I N

OUR STRATEGY IS A REFLECTION OF

PORTO'S ESSENCE.

Our way of operating comes from a unique combination of the constant practice of care, discipline, diversification, and an unwavering focus on the client experience. A foundation built over eight decades, which only increases confidence both in the path we have traveled so far and in the future we continue to build every day. Our numbers are the exact financial reflection of the essence that defines us.

4Q25

EARNINGS RELEASE PORTO SEGURO S.A.





Contents

Message from Management 03

Management Analysis and Result for the Period 05

Porto Seguro Vertical 06

Auto 08

P&C 09

Life 10

Summary and Income Statement - Insurance 11

Porto Saúde Vertical 12

Summary and Income Statement - Healthcare 15

Porto Bank Vertical 16

Financial Solutions for Credit 18

Consortium 20

Financial solutions for rent, guarantee and pension plan 21

Summary and Income Statement - Bank 22

Porto Serviço Vertical 23

Summary and Income Statement - Porto Serviço 25

Financial result 27

Investments and Capital Adequacy 29

Projections 30

Market Indicators 31

Operating Highlights 32

Financial Statements 33

ESG - Environmental, Social and Governance Factors 40

Ecosystem Strengthening 41

Appendix 43

Starting with the 4Q24 edition of the Earnings Release, you have become acquainted with some of our Employees, Brokers, and Service Providers. The results arise from the work of more than 60 people who look after the over 18million clients that Porto serves.

COVER: Erica - Accounting Analyst - 1.5 years in Porto.



2

28% profit growth and 12% revenue

growth in 2025

The year 2025 marked the 80th anniversary of Porto, a period during which the company demonstrated solid and sustainable growth, driven by its strategy of diversification and strengthening the Porto ecosystem: the annual revenue¹ reached R$ 41 billion, with an increase of 12% (vs. 2024), while the net income grew 28% (vs. 2024), reaching R$ 3.4 billion. We ended the year with a return on average equity (ROAE) of 22.7%, which represents an expansion of 2.7 p.p. compared to 2024.

Diversification played a particularly important role throughout 2025. All Verticals achieved a ROAE above 23% for the year, and the combined operations of Health, Bank, and Services now represent 49% of the total (+7 p.p. vs. 2024).

The fourth quarter of 2025 consolidates, with consistent results, the trajectory of solid and sustainable growth observed throughout the year. Revenues¹ and net income grew by double digits, and the ROAE remained above the 20% mark, a performance that reflects the strategy of strengthening the Porto ecosystem through the four business verticals.

In the 4Q25, our revenues¹ reached R$ 11 billion, an increase of 11% compared to the same period of the previous year. Net income for the quarter totaled R$ 839 million (+25% vs. 4Q24), with a ROAE of 22.5% (+2.2 p.p. vs. 4Q24).

Performance of Verticals, compared to 4Q24:

Porto Bank: Porto Bank's revenue¹ grew 31%, reaching R$ 2.1 billion, mainly due to the growth of the Consortium¹ (+38%); Card, Loans and Financing (+32%); Premium Bonds (+23%); and; Financial Risks (+15%). The risk-adjusted NIM decreased by 0.3 p.p., reaching 3.0%, while the efficiency ratio was 32.2%, an improvement of

1.3 p.p. The quarterly net income had a growth of 35%, totaling R$ 219 million.

Porto Saúde: Porto Saúde recorded a 23% increase in revenue, reaching R$ 2.3 billion. The growth was driven by a 23% increase in health insurance members, reaching 831 thousand, and a 19% expansion in dental lives, reaching 1.2 million. The Combined Ratio was 89%, an improvement of 1 p.p. mainly due to the lower loss ratio observed during the period (74%; -2 p.p.). Eventually, Income for the period was R$ 170 million (+22%).

Porto Seguro: Porto Seguro's revenues and premiums totaled R$ 5.8 billion (+3%), leveraged by Property and Life insurance, both segments with 13% growth. In Auto, premiums remained at the same level as the previous year (+0.2%), while the insured fleet grew 4%. The amplified combined ratio reached 85.3%, an improvement of 1 p.p. and the income for the period was

R$ 459 million (+4%).

Porto Serviço: Porto Serviço recorded R$ 663 million in revenue (+3%), with the digital products segment standing out (+38% in 4Q25 and +73% in 2025). The quarterly result was

R$ 84 million (42%).

The financial result was R$ 289 million in the quarter (+6%). Revenue from the financial investment portfolio (ex-pension plan, ALM and rollover of securities), managed by the Treasury, was R$ 473 million, explained by the performance of allocations in inflation-linked bonds. In the quarter, a portfolio rollover of

R$ 109 million was carried out, which will provide for an increase in the average rates of the inflation-linked securities and the extension of the duration of the securities in the portfolio.



¹Excluding the effects of the improvement in the Consortium's revenue and cost deferral method through the systemic implementation of the new granular control model by group and quota. 3

The operational efficiency ratio¹, which considers the sum of Administrative Expenses in relation to Total Revenue, reached 11.2%, remaining stable for the quarter. For the year, the ratio¹ was 10.9%, an improvement of 0.4 p.p. compared to the previous year. It was the sixth consecutive year of improvement in this indicator, aligned with our efforts for efficiency gains.

Furthermore, we celebrated one year since our inclusion in the Ibovespa Index and now we celebrate our integration into the IBrX 50. Our inclusion in this index, which brings together the 50 most liquid companies on the B3 stock exchange, reflects our consistent growth trajectory and increased investor engagement.

Highlights - 4Q25

35 M

Business (Dec/25)

16% YoY

R$ 11 B

in total revenue¹ (4Q25)

+11% YoY

Result of

R$ 839 M (4Q25)

+25% YoY

ROAE

22.5% (4Q25)

+2.2 p.p. YoY

For the fourth consecutive year, we were recognized as one of the ten best companies to work for in Brazil, according to the Great Place to Work (GPTW) ranking, a result of our genuine care for people through initiatives focused on wellbeing, learning, and development within our Team.

In 2025, Porto was once again recognized by Brand Finance as the third strongest brand in the country and was once again chosen as one of the 15 most valuable brands in Brazil by Interbrand.

Additionally, we achieved the leadership in Folha de SÉo Paulo's Top of Mind in the Insurance category for the 12th consecutive year and the EstadÉo Marcas Mais award for the fourth consecutive year in the same category.

This external perception is also observed through the assessment we receive for our products and services rendered: we ended the year with an NPS of 92 in the Porto Medical Team, 82 in Auto and Home Insurance, and 75 in Credit Card. These numbers reflect the quality of the products and services offered to our more than 18 million Clients, who entrust us with what matters most: their own health, their families, their savings and assets.

In 2025, we celebrated our 80th anniversary with the certainty that the Essence that brought us this far is what will take us forward.

Thanks to all who build this journey with us.

Paulo Kakinoff



¹Excluding the effects of the improvement in the Consortium's revenue and cost deferral method through the systemic implementation of the new granular control model by group and quota. 4



Management Analysis and Result for the Period

4Q25

Porto Seguro S.A.'S Income Statement

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Total Revenue (Retained Premium + Other Revenues) (a)

10,627.5

9,835.0

8.1

10,507.5

1.1

41,083.2

36,941.9

11.2

Retained Premium

8,033.9

7,428.4

8.2

7,802.1

3.0

30,596.1

27,800.5

10.1

Earned Premium (insurance and healthcare vertical)

7,783.7

7,163.8

8.7

7,692.4

1.2

30,044.7

27,478.6

9.3

Non-insurance revenues (a)

2,593.7

2,406.7

7.8

2,705.4

(4.1)

10,487.2

9,141.4

14.7

Retained Net Claims

(4,494.8)

(4,089.8)

9.9

(4,508.5)

(0.3)

(17,427.6)

(15,675.8)

11.2

Credit losses (b)

(710.6)

(495.4)

43.5

(571.4)

24.4

(2,305.3)

(1,816.6)

26.9

Commission

(1,592.6)

(1,673.2)

(4.8)

(1,862.7)

(14.5)

(6,955.1)

(6,430.7)

8.2

Tax Expenses (c)

(388.6)

(346.8)

12.0

(351.1)

10.7

(1,413.0)

(1,290.2)

9.5

Operating Expenses

(938.3)

(828.1)

13.3

(855.5)

9.7

(3,490.0)

(3,083.9)

13.2

Administrative Expenses

(1,223.5)

(1,102.9)

10.9

(1,129.3)

8.3

(4,525.6)

(4,194.1)

7.9

Operating income

1,029.1

1,034.4

(0.5)

1,119.3

(8.1)

4,415.3

4,128.6

6.9

Financial Results

288.7

271.6

6.3

382.8

(24.6)

1,430.2

918.4

55.7

Amortization of Intangible Assets

(11.1)

(12.5)

(11.1)

(11.1)

(0.1)

(44.3)

(44.7)

(0.9)

LAIR

1,306.7

1,293.5

1.0

1,491.0

(12.4)

5,801.2

5,002.2

16.0

Income Tax and Social Contribution (c)

(140.9)

(350.3)

(59.8)

(374.8)

(62.4)

(1,254.2)

(1,314.2)

(4.6)

Profit Sharing

(307.7)

(255.2)

20.6

(271.3)

13.4

(1,129.3)

(975.6)

15.8

Non-controlling shareholders in subsidiaries

(7.6)

(12.7)

(39.9)

(10.7)

(29.2)

(43.2)

(45.9)

(6.0)

Result of Investee Companies and Subsidiaries

(18.3)

(8.5)

114.9

1.7

-

(17.4)

(12.5)

38.4

Net Income (Ex-adoption of IFRS 17)

832.2

666.8

24.8

835.9

(0.4)

3,357.2

2,653.9

26.5

IFRS17 adjustment (d)

6.5

4.0

63.7

(4.0)

(262.8)

23.7

(9.1)

(360.7)

Net Income

838.7

670.8

25.0

831.9

0.8

3,380.9

2,644.8

27.8

Effective Income Tax over Net Income (before tax) and after Profit Sharing (c)

14.1%

33.7%

-19.6

30.7%

-16.6

26.8%

32.6%

-5.8

Average Shareholders' Equity

14,896.0

13,233.0

12.6

14,482.9

2.9

14,896.0

13,233.0

12.6

ROAE

22.5%

20.3%

2.2

23.0%

-0.5

22.7%

20.0%

2.7

Extraordinary Events

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Net income for the period

838.7

670.8

25.0

831.9

0.8

3,380.9

2,644.8

27.8

Oncoclínicas (e)

-

(15.6)

(100.0)

-

-

-

(39.0)

(100.0)

Write-off of investments (f)

-

41.0

(100.0)

-

-

-

41.0

(100.0)

Rollover of securities (g)

50.2

14.2

253.0

-

-

50.2

33.6

49.4

Recurring Net Income

888.8

710.4

25.1

831.9

6.8

3,431.0

2,680.4

28.0

  1. Excluding the effects of improvements to the Consortium's revenue and cost deferral method, Total Revenue would be RÇ 10.9 billion in 4Q25 (+10.9% YoY) and RÇ 41.4 billion in 2025 (+12.0% YoY).

  2. Credit Losses from Credit Card, Loans and Financing and Financial Risks' operations.

  3. Starting in 4Q25, Porto Saúde began distributing Interest on Equity to Porto Seguro S.A., resulting in RÇ 123.2 million in tax benefits on income tax and an increase of RÇ 82.2 million in expenses related to PIS/COFINS.

  4. Corporate results are impacted by the adoption of the IFRS 17/CPC 50 standard, bringing changes to accounting practices, affecting insurance results. For management results purposes, insurance results remain accounted for according to the IFRS 4/CPC 11 accounting standard, in accordance with SUSEP standards.

  5. Joint venture of oncological medical services.

  6. Write-off of investment assets due to change of strategy

  7. Roll-over of government bonds to longer maturities at higher rates

    Operating Efficiency

    4Q25

    4Q24

    ∆%/p.p.

    3Q25

    ∆%/p.p.

    2025

    2024

    ∆%/p.p.

    Administrative Expenses

    (1,223.5)

    (1,102.9)

    10.9

    (1,129.3)

    8.3

    (4,525.6)

    (4,194.1)

    7.9

    Total Revenue (Retained Premium + Other Revenues)

    10,627.5

    9,835.0

    8.1

    10,507.5

    1.1

    41,083.2

    36,941.9

    11.2

    Operating Efficiency Ratio (h)

    11.5%

    11.2%

    0.3

    10.7%

    0.8

    11.0%

    11.4%

    (0.3)

  8. Excluding the effects of improvements to the Consortium's revenue and cost deferral method, the operational efficiency ratio would be 11.2% in 4Q25 (stable YoY) and 10.9% in 2025 (-0.4 p.p. YoY).

Insurance Vertical Result and ROAE

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Net Income (R$ million) Insurance

459.1

441.4

4.0

450.9

1.8

1,657.8

1,643.4

0.9

ROAE % Insurance

32.3%

29.7%

2.6

32.2%

0.2

29.2%

27.7%

1.5

Healthcare Vertical Result and ROAE

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Net Income (R$ million) Health care

169.7

138.8

22.2

126.3

34.4

581.1

393.6

47.7

ROAE % Healthcare

32.7%

38.0%

-5.3

25.7%

7.0

28.0%

27.0%

1.0

Bank Vertical Result and ROAE

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Net Income (R$ million) Bank

219.4

162.4

35.1

196.0

11.9

811.7

632.2

28.4

ROAE % Bank

28.4%

26.7%

1.7

26.1%

2.3

26.2%

26.0%

0.3

Service Vertical Result and ROAE

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Net Income (R$ million) Services

83.5

58.9

41.9

38.4

117.6

220.6

204.6

7.8

ROAE % Service

36.1%

25.8%

10.2

17.8%

18.3

23.8%

22.5%

1.4

Income - Parent Company and Others

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Net Income (R$ million) - Parent Company and Others

(93.1)

(130.7)

(28.8)

20.3

-

109.7

(228.9)

-

Result and Consolidated ROAE

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Net Income (R$ million) Porto Seguro S.A.

838.7

670.8

25.0

831.9

0.8

3,380.9

2,644.8

27.8

ROAE % Porto Seguro S.A.

22.5%

20.3%

2.2

23.0%

-0.5

22.7%

20.0%

2.7



5

4Q25 EARNINGS RELEASE PORTO SEGURO S.A.

CARLOS

Broker

30 years with Porto

Porto Seguro

4Q25

6



Main Highlights

17.2 M

of items/lives

(Dec '25) +8.2% YoY¹

R$ 5.8 B

in total revenue²

(4Q25) +3.0% YoY

Result of

R$ 459.1 M

(4Q25) +4.0% YoY

ROAE of

32,3%

(4Q25) +2.6 p.p. YoY

We ended the quarter with 17.2 million items/lives at Porto Seguro Vertical (+8.2% vs. 4Q24)¹, with emphasis on the increase of 561 thousand people in Life Insurance (+10.2% vs. 4Q24), 271 thousand items in Property Insurance (+6.4% vs. 4Q24), and

232 thousand vehicles in Auto Insurance (+3.9% vs. 4Q24)¹.

Through more targeted offers, Porto Seguro continues to advance in innovation to enhance the experience of its clients. The Company expanded its entry-level product portfolio, such as Azul Moto, Azul Seguro Compacto and Azul Proteção Combinada (auto + home insurance in a single contract) and, at the same time, strengthened its presence in the Premium and Private segments, ensuring a more personalized and exclusive service offering to high-income clients.



15.88



17.34



16.51



16.75



17.17

  • Addition of 561,000 people in Life vs. 4Q243

5.62

5.41

5.43

5.66

5.79

  • Loss ratio of 51.4% in Vertical; +0.3 p.p. vs. 4Q24

  • Administrative expenses of 10.5%; -0.2 p.p. vs. 4Q24

  • Vertical Result of RÇ 459.1 million in the 4Q25 +4.0% vs.

4Q24

1Q25

2Q25

3Q25

4Q25

4Q24

Total Revenue (R$ billion) Current Items/Lives (million)

  • ROAE de 32.3%, +2.6 p.p. vs. 4Q24

Combined Ratio

Net Income and Profitability



89.4%

92.7%

89.1%

89.6%

89.5%

29.7%



86.5%

89.4%

85.7%

85.3%

85.3%













31.1%

32.2%

32.3%

22.6%



%

%

%

%

%

2.9 1.1%

10.7%

2.6 1.5%

10.6%

2.9 1.1%

10.1%

2.8 1.2%

9.9%

  1. 0.6%

10.5%

23.7%

24.4%

24.5%

24.2%

24.8%

51.1%

53.6%

50.4%

51.6%

51.4%

441.4

434.4 450.9 459.1

313.4

4Q24

1Q25

2Q25

3Q25

4Q25

4Q24

1Q25

2Q25

3Q25

4Q25

C.R. (%) Amplified Combined Ratio (%)

O.E. (%)

Taxes (%)

G&A (%)

Commission (%)

Loss Ratio (%)

Net Income (R$ million) ROAE (% p.a.)

The result of Porto Seguro Vertical in the fourth quarter of 2025 was RÇ 459.1 million (+4.0% vs. 4Q24), while the ROAE reached 32.3% in the period (+2.6 p.p. vs. 4Q24). The Combined Ratio reached 89.5% in the quarter (+0.1 p.p. vs. 4Q24), highlighting the efficiency improvement, with a reduction of 0.5 p.p. in Operating Expenses and 0.2 p.p. in Administrative expenses.

  1. Criterion adopted as of 1Q25 readjusting the numbers from 1Q24 onwards: Volume data only considers identifiable clients, items instead of policies, and accounting of the volume on the last day of the period, and starting from 2Q25, the items from Porto Uruguay began to be considered.



  2. Total revenue comprises retained premiums + revenues.

  3. Criterion adopted as of 1Q25: volume data only considers identifiable lives as of 1Q24. 7

Auto

6.2 M

vehicles

(Dec '25)

+3.9 YoY

R$ 4.2 B

in written premium

(4Q25)

+0.2% YoY

  • Market share of 26.2% in 11M25¹

  • 6.2 million vehicles in the fleet in 4Q25 (+232 thousand vs. 4Q24)

  • Loss ratio of 57.7% in 4Q25; 1.2 p.p. increase (vs. 4Q24)

    Written Premium and Insured Fleet

    In 4Q25, the issued premiums for Auto Insurance reached

    RÇ 4.2 billion, an increase of 0.2% (vs. 4Q24), while the insured fleet reached 6.2 million vehicles, an increase of 3.9% (vs.

    4Q24).

    We maintained a focus on the discipline of pricing to preserve our margins while enhancing the client experience with personalized benefits and greater use of technology.

    In this direction, in the entry segments, we expanded our portfolio with the products Azul Moto, Azul Seguro Compacto, and Azul Proteção Combinada (Auto + Homeowner), broadening the offer of segmented coverage,

    6.00

    4.16

    6.17



    3.99

    6.20

    3.91

    6.21

    4.07

    6.23

    4.17

    which strengthens our strategy for insurance inclusion.

    At the same time, we strengthen our presence in the Premium and Private segments with exclusive and personalized offers.

    Additionally, we continue to capture operational efficiencies from the integration of our brands.

    Loss Ratio

    The Auto loss ratio reached 57.7% in the quarter, accounting for an increase of 1.2 p.p. compared to the fourth quarter of 2024 and an improvement of 0.5 p.p. versus 3Q25, remaining within the levels considered healthy by the Company.

    4Q24 1Q25 2Q25 3Q25 4Q25

    Written Premium (R$ billion) Insured Fleet (million)

    +1.2 p.p.

    56.5% 60.1% 58.5% 58.2% 57.7%

    4Q24 1Q25 2Q25 3Q25 4Q25

    Market View (11M25¹)

    Company

    Premium (R$B)

    ∆ YoY %

    % Market

    ∆ YoY p.p.

    % Loss Ratio

    ∆ YoY p.p.

    Porto Seguro Group

    14.58

    1.9%

    26.2%

    -1.2 p.p.

    58.9%

    1.5 p.p.

    2nd Largest

    9.87

    4.7%

    17.7%

    -0.3 p.p.

    61.4%

    -0.5 p.p.

    3rd Largest

    7.85

    6.6%

    14.1%

    0.0 p.p.

    57.5%

    0.2 p.p.

    4th Largest

    7.79

    21.6%

    14.0%

    1.8 p.p.

    63.8%

    -0.9 p.p.

    5th Largest

    6.27

    1.5%

    11.3%

    -0.5 p.p.

    58.0%

    0.5 p.p.

    Total Market

    (ex-Porto)

    41.05

    +8.1%

    -

    -

    60.3%

    -0.1 p.p.



    1. Market data for the accumulated period from January to November 2025. Source: SUSEP/Porto Seguro. 8

P&C

R$ 1 B

in written premium (4Q25)

+12.6% YoY

4.5 M

of items (Dec'25)

+6,4% YoY¹

  • Mark of RÇ 1 billion in premiums in the quarter (+12.6% vs. 4Q24)

  • Increase of 271 thousand items (vs. 4Q24)¹

  • Loss ratio of 34.6% in 3Q25; improvement of 3.0 p.p. (vs. 4Q24)

    Written Premium and Items Insured

    The revenues from P&C insurance grew 12.6% compared to 4Q24, mainly sustained by the expansion of Residential and Business insurance. There is also a significant growth in Bike and Cell Phone Insurance, which attracted new clients to the Company. In the Homeowner segment, the increase was 19.4%, and we expanded our entry products with the offer of Combined Protection (Auto + Homeowner) for Azul Seguros, in addition to a new hiring plan in Essential Homeowner insurance category. And complementing the portfolio, we strengthen our performance in high-end real estate with the Premium Home and Private Products.

    4.24 4.80 4.44 4.43 4.51



    901

    939

    842

    874

    1,015

    4Q24 1Q25 2Q25 3Q25 4Q25

    Written Premium (R$ million) Items Insured (million)

    Loss Ratio

    37.7%

    35.4%

    34.6%

    25.2%

    30.7%

    -3.0 p.p.

    The total loss ratio of P&C products reached 34.6% in 4Q25, showing an improvement of 3.0 p.p. compared to the fourth quarter of 2024, remaining at levels considered healthy by the Company.

    4Q24 1Q25 2Q25 3Q25 4Q25

    Market View (11M25²)

    Homeowner Commercial

    Company Premium (R$ B)

    ∆ YoY % % Market ∆ YoY

    p.p.

    % Loss Ratio ∆ YoY p.

    p.

    Company Premium (R$ B)

    ∆ YoY % % Market

    ∆ YoY

    p.p. % Loss Ratio

    ∆ YoY p.

    p.

    Porto Seguro

    Group

    1.25

    +9.2%

    20.5%

    -0.2 p.p.

    34.0%

    -3.3 p.p.

    Porto Seguro

    Group

    1.13

    +15.7%

    25.2%

    +0.4 p.p.

    29.8%

    -1.5 p.p.

    2nd Largest

    1.05

    +25.81%

    17.3%

    +2.1 p.p.

    16.3%

    -3.9 p.p.

    2nd Largest

    0.40

    +2.3%

    9.0%

    -1.0 p.p.

    38.9%

    +7.7 p.p.

    3rd Largest

    1.01

    +13.1%

    16.7%

    +0.4 p.p.

    17.7%

    -3.0 p.p.

    3rd Largest

    0.39

    +35.9%

    8.7%

    +1.4 p.p.

    45.3%

    -12.4 p.p.

    4th Largest

    0.55

    -26.5%

    9.0%

    -4.5 p.p.

    22.9%

    -2.2 p.p.

    4th Largest

    0.37

    +22.0%

    8.3%

    +0.5 p.p.

    45.9%

    -13.1 p.p.

    5th Largest

    0.44

    +11.2%

    7.2%

    +0.0 p.p.

    43.2%

    -5.3 p.p.

    5th Largest

    0.36

    +21.4%

    8.2%

    +0.5 p.p.

    25.6%

    -14.5 p.p.

    Total Market (ex-Porto)

    4.82

    +10.8%

    -

    -

    25.7%

    -3.3 p.p.

    Total Market (ex-Porto)

    3.34

    +13.5%

    -

    -

    40.5%

    -8.9 p.p.



    1. Criterion adopted as of 1Q25 readjusting the numbers from 1Q24 onwards: volumetric data consider only identifiable clients, items instead of policies, and accounting of the volume on the last day of the period.

    2. Market data for the accumulated period from January to November 2025. Source: SUSEP/Porto Seguro. 9

Life

6.1 M

R$ 457 M

  • 12.5% growth in premiums in 4Q25 (vs. 4Q24)

Lives

in Life premiums (4Q25)

  • Increase of 561 thousand lives (vs. 4Q24)¹

(Dec'25)

+10.2% YoY¹

+12.5% YoY

  • Life insurance loss ratio of 37.1% (+3.4 pp vs. 4Q24)

Written Premium and Insured Lives

In 4Q25, Life premiums increased by 12.5% and the number of lives insured grew 10.2% compared to 4Q24¹. The expansion observed during the period is mainly explained by the performance of Credit Life insurance, followed by Group and Individual insurance

In the Credit Life segment, quarterly premiums grew above the market² (+24.4% vs. 4Q24), driven by commercial actions that expanded the base of partners and enhanced the advancement in cross-selling within the Porto ecosystem.

In Group Life, expansion reached +7.9% (vs.4Q24), ratifying the growth strategy in the Small and Medium-Sized Enterprises segment and the expansion of the partnership with Porto Saúde through "Proteção Turbinada", an integrated Health and Life insurance solution for companies.

5.52 6.35 5.51 5.76 6.08

406

431

480 480 457

4Q24 1Q25 2Q25 3Q25 4Q25

Written Premium (R$ million) Lives Insured (million)

Loss Ratio - Life

The loss ratio for Life insurance reached 37.1% in 4Q25, an increase of

3.4 p.p. (vs. 4Q24), remaining within levels considered healthy by the company.

39.1%

39.5%

33.7%

37.1%

32.2%

4Q24 1Q25 2Q25 3Q25 4Q25

Market View (11M25³)

Company

Premium (R$ B)

∆ YoY %

% Market

∆ YoY p.p.

% Loss Ratio

∆ YoY p.p.

1st Largest

12.26

+8.3%

17.4%

-0.0 p.p.

36.0%

+4.8 p.p.

2nd Largest

6.81

+19.3%

9.7%

+0.9 p.p.

53.0%

-1.4 p.p.

3rd Largest

6.28

-5.0%

8.9%

-1.3 p.p.

18.6%

+0.5 p.p.

4th Largest

5.76

-9.0%

8.2%

-1.6 p.p.

27.3%

-1.9 p.p.

5th Largest

5.45

+12.9%

7.7%

+0.3 p.p.

20.6%

-1.8 p.p.

Porto Seguro Group (12nd

largest)

1.71

+13.3%

2.4%

+0.1 p.p.

38.0%

+0.4 p.p.

Total Market

70.5

+8.6%

-

-

29.4%

-0.6 p.p.

  1. Criterion adopted as of 1Q25: volume data only considers identifiable lives as of 1Q24.



  2. Data from the Credit Life segment from October to November based on SUSEP, lines 977 and 1377.

  3. Market data for Group Life, Individual, Credit Life, and Travel for the accumulated period from January to November 2025. Source: SUSEP/Porto Seguro. 10

Financial and Operational Summary and I/S

Financial and Operational Summary - Porto Seguro

Auto

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Written Premium (R$ million)

4,168.3

4,160.8

0.2%

4,072.3

2.4%

16,137.6

15,811.6

2.1%

Earned Premium (R$ million)

4,061.9

3,967.3

2.4%

4,062.5

0.0%

15,981.0

15,862.6

0.7%

Loss Ratio (%) - Chg. (p.p.)

57.7%

56.5%

1.2

58.2%

-0.5

58.6%

57.2%

1.4

Insured Fleet (thousand)

6,232.8

6,000.4

3.9%

6,209.9

0.4%

6,232.8

6,000.4

3.9%

P&C

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Written Premium (R$ million)

1,014.7

901.0

12.6%

938.8

8.1%

3,668.9

3,333.8

10.1%

Earned Premiums (R$ million)

873.0

794.8

9.8%

862.3

1.2%

3,350.2

3,034.7

10.4%

Loss Ratio (%) - Chg. (p.p.)

34.6%

37.7%

-3.0

30.7%

3.9

31.5%

33.0%

-1.5

Items (thousand)

4,507.3

4,235.9

6.4%

4,433.7

1.7%

4,507.3

4,235.9

6.4%

Life

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Written Premium (R$ million)

457.0

406.0

12.5%

479.9

-4.8%

1,848.1

1,615.3

14.4%

Earned Premiums (R$ million)

463.5

417.4

11.0%

450.4

2.9%

1,764.1

1,548.3

13.9%

Loss Ratio (%) - Chg. (p.p.)

37.1%

33.7%

3.4

39.5%

-2.4

37.0%

35.6%

1.4

Lives (thousand)

6,077.4

5,516.7

10.2%

5,760.9

5.5%

6,077.4

5,516.7

10.2%

Pension Plan¹

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Financial Administration Fee (TAF) (R$ million)

-

14.1

-

-

-

-

56.0

-

Loading Fee (R$ million)

-

0.2

-

-

-

-

1.0

-

Earned Premium (R$ million)

-

11.6

-

-

-

-

43.7

-

Total Effective Revenue (R$ million)

-

25.9

-

-

-

-

100.7

-

Total Active Participants (thousand)

-

107.6

-

-

-

-

107.6

-

Assets under Management (R$ million)

-

5,861.6

-

-

-

-

5,861.6

-

Uruguay Seguros

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Written Premium (R$ million)

211.5

182.9

15.6%

196.6

7.5%

784.5

651.3

20.5%

Earned Premium (R$ million)

195.2

169.9

14.9%

189.7

2.9%

743.4

617.2

20.5%

Loss Ratio (%) - Chg. (p.p.)

30.8%

34.7%

-3.9

32.8%

-2.0

31.6%

33.8%

-2.2

Service Revenue (R$ million)

10.9

9.6

14.1%

10.2

7.3%

41.8

38.8

7.6%

Business (thousand)²

344.0

0.0

0.0%

334.3

2.9%

344.0

0.0

0.0%

Other insurances

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Revenues/Premiums (R$ million)*

2.2

2.7

-20.6%

2.5

-11.3%

10.6

13.1

-19.2%

*Coinsurance, Trackers and Run Off (RCO and Others - Azul)

Reinsurance

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Reinsurance (R$ million)

-75.1

-69.6

8.0%

-37.5

100.1%

-201.1

-176.4

14.0%

Total Porto Seguro

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Total Revenue (Retained Premium + Revenues)

5,789.5

5,619.4

3.0%

5,662.7

2.2%

22,290.3

21,388.2

4.2%

Net Income (R$ million)

459.1

441.4

4.0%

450.9

1.8%

1,657.8

1,643.4

0.9%

ROAE (%) - Chg. (p.p.)

32.3%

29.7%

2.6

32.2%

0.2

29.2%

27.7%

1.5

Managerial Income Statement - Porto Seguro

Porto Seguro Income Statement

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Total Revenue (Retained Premium + Revenues)

5,789.5

5,619.4

3.0

5,662.7

2.2

22,290.3

21,388.2

4.2

Retained Premium

5,776.4

5,592.5

3.3

5,650.1

2.2

22,238.0

21,279.1

4.5

Earned Premium

5,593.6

5,361.0

4.3

5,564.9

0.5

21,838.7

21,106.4

3.5

Revenues

13.1

26.8

(51.3)

12.6

3.6

52.3

109.1

(52.0)

Retained Net Claims

(2,877.8)

(2,740.6)

5.0

(2,869.0)

0.3

(11,300.2)

(10,842.2)

4.2

Commission

(1,387.6)

(1,270.2)

9.2

(1,347.7)

3.0

(5,335.8)

(4,904.6)

8.8

Operating Expenses

(40.8)

(64.0)

(36.2)

(76.0)

(46.4)

(273.1)

(296.7)

(8.0)

Tax Expenses

(124.4)

(153.8)

(19.2)

(153.6)

(19.0)

(571.7)

(600.9)

(4.9)

Administrative Expenses

(591.1)

(576.4)

2.6

(553.1)

6.9

(2,257.7)

(2,263.1)

(0.2)

Operating Result

585.1

582.9

0.4

578.0

1.2

2,152.5

2,307.9

(6.7)

Financial result

284.3

153.8

84.9

280.0

1.5

975.4

709.6

37.5

Amortization of intangible assets

(3.2)

-

-

(3.2)

-

(12.7)

-

-

Results before Tax

866.3

736.6

17.6

854.8

1.3

3,115.2

3,017.5

3.2

Income Tax and Social Contribution

(269.8)

(163.9)

64.5

(269.3)

0.2

(962.6)

(870.0)

10.7

Net Income before Participation

596.5

572.7

4.2

585.6

1.9

2,152.6

2,147.5

0.2

Shareholding

(137.4)

(131.1)

4.8

(134.7)

2.0

(494.9)

(503.8)

(1.8)

Result from Investee Companies

0.0

(0.2)

(109.0)

(0.0)

(177.5)

0.1

(0.4)

(133.0)

Net Income

459.1

441.4

4.0

450.9

1.8

1,657.8

1,643.4

0.9

ROAE (%) - Chg. (p.p.)

32.3%

29.7%

2.6

32.2%

0.2

29.2%

27.7%

1.5

Combined Ratio (%) - Chg. (p.p.)

89.5%

89.4%

0.1

89.6%

-0.1

90.2%

89.4%

0.8

Amplified Combined Ratio (%) - Chg. (p.p.)

85.3%

86.5%

-1.2

85.3%

0.0

86.3%

86.3%

0.1

Basis - Financial investments

6,086.4

5,397.5

12.8

6,114.3

(0.5)

6,086.4

5,397.5

12.8



11

  1. Starting in 1Q25, the Pension Plan product was no longer accounted for in the Porto Seguro Vertical and started being integrated into the Porto Bank vertical.

  2. As of 2Q25, Porto Uruguay's items were considered.

4Q25 EARNINGS RELEASE PORTO SEGURO S.A.

RENATA

Porto Medical Staff 3 years with Porto

Porto Saúde

4Q25

12



Members and Revenues

R$ 2.3 B

in revenues in 4Q25

(+22.7% vs. 4Q24)

831 k lives

+156k lives in Health Insurance

(+23.2% vs. 4Q24)

R$ 169.7 M

in net income in 4Q25

(+22.2% vs. 4Q24)

32.7%

ROAE

(-5.3 p.p. vs. 4Q24)

  • Reaching 831 thousand lives in Health Insurance

  • Revenues and Premiums increased R$ 423M, +22.7% (vs. 4Q24)

  • The loss ratio for Health + Dental in 4Q25 improved by 1.6 p.p. (vs. 4Q24)

  • Net income of R$ 169.7 million (+22.2% vs. 4Q24)

  • ROAE of 32.7% in 4Q25 (-5.3 p.p. vs. 4Q24)

Members



+23.2% +6.0%

Health Insurance reached 831 thousand members, maintaining a series of 21 consecutive quarters of growth. We increased 156K lives compared to 4Q24 and + 47K lives compared to the immediately previous quarter.

The Dental Insurance reached 1.184K lives, increasing by 189K lives compared to 4Q24 and 47 K compared to the immediately previous quarter.

543

562

606

641

675

702

751

784

831



4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25

Members - Health (thousand)



+19.0% +4.1%

1,032

1,091

1,138

1,184

785

811

879

946

995

4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25

Members - Dental (thousand)

Revenues

+22.6%

+3.9%



Porto Saúde's revenues grew R$ 423 million (+22.7% vs. 4Q24) and R$ 95.5 million in the quarter (+4.4% vs.

3Q25), reaching R$ 2.3 billion in the quarter and 8.4

1,771

1,872

1,954

2,091

2,172

4Q24 1Q25 2Q25 3Q25 4Q25

+87.9%

8,088

6,302

4,304



2023 2024 2025

+22.7%

+4.4%



billion for the year (+27.7% vs. 2024).

Health Insurance (R$ million)

1,863

1,965

2,048

2,190

2,286

+83.7%

8,488

6,649

4,621



4Q24 1Q25 2Q25 3Q25 4Q25 2023 2024 2025

Porto Saúde (R$ million)



13

-1.4 p.p.



Loss ratio and Results

Loss Ratio

76.3% 70.8% 78.4% 78.3% 74.9%

The Health Insurance loss ratio closed at 74.9% (-1.4 p.p. compared to 4Q24), once again reinforcing the effects of our virtual verticalization strategy, with the Porto Medical Team, Partnerships, new products and actions to combat fraud.

The loss ratio of Health Insurance + Dental Insurance was 73.5% (-1.6 p.p. vs 4Q24).

4Q24 1Q25 2Q25 3Q25 4Q25

Health Insurance

-1.6 p.p.



75.2% 69.8% 77.3% 77.3% 73.5%

4Q24 1Q25 2Q25 3Q25 4Q25

Health Insurance + Dental Insurance

Combined Ratio

Net income and Profitability

89.4%

83.6%

92.6% 92.0%



88.5%

38.0%

39.7%

86.6%

82.2%

90.6% 89.2%

32.7%

33.8%

179.6

22.4%

25.7%

169.7

138.8

15.6

126.3

105.5

123.2



85.9%

1.7%

2.4%

1.4%

6.9% 6.7 4.8%

4.6%1.2%

1.0%

1.4% 7.3%

4.6%1.0% 1.0%

1.0%

7.7 4.6%

%

4.9%1.2%

%

7.9%

75.2%

69.8%

77.3%

77.3%

73.5%

4Q24

1Q25

2Q25

3Q25

4Q25

4Q24

1Q25

2Q25

3Q25

4Q25

O.E. (%)

Taxes (%)

G&A (%) C.R. (%)

Commission (%)

Loss Ratio (%) ICA (%)

Impact of strategic partnerships¹

Result (R$ million) ROAE (% p.a.)

ROAE ex strategic partnerships (% p.a.)

The Porto Saúde's Combined Ratio improved 0.9 p.p. (vs. 4Q24) to 88.5% in the quarter, reflecting a lower loss ratio and efficiency in operating expenses. Net income reached R$ 169.7 million in 4Q25 (+22.2% vs. 4Q24) and R$ 581.1 million in 2025 (+47.7% vs. 2024). Positive profitability was reflected in ROAE of 32.7% in the quarter (-5.3 p.p. vs. 4Q24) and 28.0% in 2025 (+1.0 p.p. vs. 2024).

Results 2021−2024

We ended a four-year cycle with very consistent results, with constant growth in lives and gains in profitability year after year.

2021

2022

2023

2024

2025

CAGR 21-25

Members - Health (# thousand)

349

413

543

675

831

24.2%

Revenue (R$ M)

2,394.1

3,339.5

4,621.2

6,648.1

8,488.3

37.2%

Combined Ratio (%)

96.9%

98.4%

95.9%

91.8%

89.3%

-7.7 p.p.

Net income (R$ M)

57.1

86.3

200.4

393.6

581.1

78.6%

ROAE (%) ² ³

12.1%

15.6%

17.7%

27.0%

28.0%

+15.9 p.p.

  1. Non-recurring impact of R$ 15.6 million in 4Q24 related to strategic partnerships. Excluding this effect, the ROAE for the quarter would reach 33.8%.



  2. ROAE for 2021 and 2022 uses the Required Minimum Capital criterion, starting in 2023, the criterion used is Shareholders' Equity.

  3. Recurring ROAE (without Oncoclinicas effect) would be 14.6% in 2023 and 24.3% in 2024. 14

Financial and Operational Summary and I/S

Financial and Operational Summary - Porto Saúde

Health Insurance

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Written Premium (R$ million)

2,171.9

1,771.1

22.6%

2,090.6

3.9%

8,088.2

6,302.3

28.3%

Members - (thousand)

831

675

23.1%

784

6.0%

831

675

23.1%

Dental

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Written Premium (R$ million)

73.6

53.2

38.3%

60.7

21.2%

245.6

201.7

21.8%

Members - (thousand)

1184

995

19.0%

1,138

4.1%

1184

995

19.0%

Other

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Revenues (R$ million)

40.2

38.4

4.7%

38.9

3.3%

154.4

144.1

7.2%

Clients - (thousand)

142

146

-2.6%

144

-1.2%

142

146

-2.6%

Total Porto Saúde

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Revenues (R$ million)

2,285.7

1,862.7

22.7%

2,190.2

4.4%

8,488.3

6,648.1

27.7%

Net Income (R$ million)

169.7

138.8

22.3%

126.3

34.4%

581.1

393.6

47.6%

ROAE (%) - Chg. (p.p.)

32.7%

38.0%

-5.3%

25.7%

7.0%

28.0%

27.0%

1.0%

Combined Ratio (%) - Chg. (p.p.)

88.5%

89.4%

-1.0%

92.0%

-3.8%

89.1%

91.8%

-3.0%

Managerial Income Statement - Porto Saúde

Porto Saúde Income Statement

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Total Revenue (Retained Premium + Revenues)

2,285.7

1,862.7

22.7

2,190.2

4.4

8,488.3

6,648.1

27.7

Retained Premium

2,245.5

1,824.2

23.1

2,151.3

4.4

8,333.9

6,504.0

28.1

Earned Premium

2,176.8

1,800.2

20.9

2,129.5

2.2

8,178.1

6,362.9

28.5

Revenues

40.2

38.4

4.7

38.9

3.3

154.4

144.1

7.2

Retained Net Claims

(1,600.7)

(1,352.9)

18.3

(1,646.2)

-2.8

(6,099.0)

(4,842.2)

26.0

Commission

(171.4)

(123.6)

38.7

(163.8)

4.6

(607.1)

(529.9)

14.6

Operating Expenses

(44.4)

(51.2)

-13.2

(52.8)

-15.9

(206.2)

(163.2)

26.3

Tax Expenses

(29.7)

(24.1)

23.2

(25.1)

18.1

(105.9)

(81.7)

29.7

Administrative Expenses

(113.9)

(89.9)

26.7

(104.7)

8.8

(415.7)

(349.4)

19.0

Operating Profit

256.9

197.0

30.4

175.8

46.1

898.6

540.5

66.3

Financial Results

67.4

60.8

10.9

66.6

1.2

213.5

182.8

16.8

Earnings before Tax

324.3

257.8

25.8

242.4

33.8

1,112.2

723.3

53.8

Income Tax and Social Contribution

(102.5)

(81.5)

25.8

(77.3)

32.6

(352.5)

(223.5)

57.7

Net Income before Participation

221.8

176.3

25.8

165.1

34.4

759.7

499.8

52.0

Shareholding

(52.1)

(37.5)

39.0

(38.8)

34.4

(178.5)

(106.3)

68.0

Net Income

169.7

138.8

22.3

126.3

34.4

581.1

393.6

47.6

ROAE (%) - Chg. (p.p.)

32.7%

38.0%

-5.3

25.7%

7.0

28.0%

27.0%

1.0

Combined Ratio (%) - Chg. (p.p.)

88.5%

89.4%

-0.9

92.0%

-3.5

89.2%

91.8%

-2.6

Amplified Combined Ratio (%) - Chg. (p.p.)

85.9%

86.5%

-0.6

89.2%

-3.3

87.0%

89.3%

-2.3

Basis - Financial investments

1,614.5

956.4

68.8

1,687.1

-4.3

1,614.5

956.4

68.8



15

4Q25 EARNINGS RELEASE PORTO SEGURO S.A.

Porto Bank

4Q25

JULIO

Broker

23 years with Porto

16



Main Highlights

  • Net income of 219.4 million (+35.1% YoY), with ROAE of 28.4%

6.2 M

Business (Dec '25)

+36,3% YoY

R$ 2.1 B

in Revenues (4Q25)

+30.9% YoY¹

  • Total Revenue of RÇ 2.1 B (+30.9% YoY)¹

  • Efficiency ratio 32.2% (-1.3 p.p. YoY)²

• +1.1 million digital accounts for individuals.

Porto Bank maintains a trajectory of expansion with net income of RÇ 219.4 million in 4Q25 (+35.1% and a ROAE of 28.4%).

The Consortium continues to show strong growth, with a 33.3% increase in Items and a 35.9% increase in Managed Portfolio (YoY). The revenues end 2025 with a growth of 30.9%¹ vs. 2024, with diversification between Fee Based and Credit. ARPAC maintains continuous growth each quarter, reaching RÇ 160.4 in 4Q25.

The efficiency ratio decreased by 1.6 p.p. QoQ and 1.3 p.p. YoY, serving as a pillar for scale gain and better profitability of the portfolio.

Net Income and Profitability

26.7%

27.0%

27.6%

26.1%

28.4%

192.1

204.1

196.0

162.4

219.4

Porto Bank sustains its trajectory of expansion and profitability, even in a scenario of greater credit selectivity. In 4Q25, we achieved a net income of RÇ 219.4 million, a significant increase of 35.1% compared to the same period last year, with a ROAE of 28.4%.

Porto Bank reached a historic milestone of 6.2 million transactions (+36.3% YoY), driven by the acceleration of digital fronts and the capture of synergies in the Porto ecosystem.

This growth was accompanied by a continuous improvement in

4Q24 1Q25 2Q25 3Q25 4Q25

Result (R$ million) ROAE (%)

the efficiency ratio, which reached 32.2% in the quarter, with operational efficiency and technological investments preparing our ecosystem for business scale.

New functionalities have been implemented to strengthen the digital experience and the value proposition, such as:

Revenues

140.9 146.3

150.2

157.4

139.1

160.4

2,074

installment payment of invoices with down payment, advance of installment purchase, installment payment of cash purchase, maintenance of the zero IOF benefit on international purchases, and the new digital journey for vehicle financing.

1,041

1,017

806

816

901

741

781

1,015

926

1,056

1,056

1,798

1,942

1,831

1,732

1,584

803



Highlight for the Porto App, driving the growth of production in the digital channel for Loans and Financing, focusing on Auto-Secured Loans and the pilot products for Legal Entities, such as Receivables Advance and Working Capital.

4Q24 1Q25 2Q25 3Q25 4Q25 4Q251

Average Monthly Revenue per Active Client (R$) Fee-Based Revenue (R$ million)

Net Financial Revenue (R$ million)

The loan portfolio recorded an increase of 22.3% compared to 4Q24, totaling RÇ 23.5 billion. The managed portfolio of the Consortium grew 35.9% compared to the previous year, reaching RÇ 107.3 billion.

Efficiency Ratio2

33.5%

33.4%

33.2%

33.8%

32.2%

4Q24

1Q25

2Q25

3Q25

4Q25













  1. Excluding the effects of the improvement in the Consortium's revenue and cost deferral method through the systemic implementation of the new granular control model by group and quota.

  2. Calculation methodology: (Operating and Administrative Expenses - Rewards) / (Revenue net of taxes - Commission - Rewards). 17

Financial Solutions for Credit

Revenue

Cards

Loans and

financing

R$ 1.3 B

R$ 1.1 B

R$ 181.1 M

+32.1% YoY

+33.8% YoY

+22.8% YoY

956.9

1,062.8

1,113.0

1,141.9

1,264.0

4Q24 1Q25 2Q25 3Q25 4Q25

1.5% 1.9%

2.7%

3.2%

3.3%*

4.5% 4.7%

3.4%

3.0%

Total revenue (R$ million)

Credit Portfolio

+22.3%

23,515

21,711

20,923

20,094

22,840

21,149

20,437

19,693

18,869

674

562

485

401

19,224

355



604.1

638.4

624.0

732.8

408.7

424.8

452.9

485.8

495.5

4Q24

1Q25

2Q25

3Q25

4Q25

4Q23 1Q24 2Q24 3Q24

4Q24 1Q25 2Q25 3Q25 4Q25

Portfolio 0-360d (R$ million) Portfolio 361-540d (R$ million)

NII (R$ million)

Risk-adjusted NIM (%)

*Considering the effects of the portfolio sale carried out in 4Q24, the Risk-Adjusted NII was 1.9%.

The Credit Card reached RÇ 20.5 billion (+22.8% vs. 4Q24) in loan portfolio. Loans and Financing with a portfolio of RÇ 3.1 billion, focusing on products with collateral.

In 4Q25, the risk-adjusted NIM reached 3.0%, a level that consolidates sustainable and resilient profitability in the face of the current macroeconomic cycle. This result reflects a comparison base that has already been normalized, free from the non-recurring effects of stop accrual observed in previous quarters, which provides greater transparency and predictability to our value generation.

Aware of the volatility of default in the market, we reaffirm our strategy of strict selectivity within the Porto ecosystem. We maintain an intensive monitoring schedule and active management of the portfolio, focusing on preserving the quality of the assets and on the preventive mitigation of credit impacts. This diligent posture ensures the protection of our client base and guarantees that the expansion of the portfolio occurs with the necessary solidity for the upcoming cycles.

NPL ratio

(Overdue >90 days)

8.5%*

9.0%

7.8%

7.2%

6.2%*

6.9%

7.3%

6.0%



9.6%

9.9%

Coverage Ratio4



137%*

138%

129%

130%

133%



121%*

125% 118% 117% 119%

4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25

Over90 (Base 360d) Over 90 (Base 540d) IC (Base 360d) IC (Base 540d)

*Considering the effects of the portfolio sale carried out in 4Q24, the NPL ratio for the base up to 360 days was 5.2% and for the base up to 540 days was 7.0%.

*Considering the effects of the portfolio sale carried out in 4Q24, the Coverage

ratio for the base up to 360 days was 148% (131% for the base up to 540 days).

The NPL ratio above 90 days (based on 360 days) of Porto Bank ended 4Q25 at controlled levels (7.2% in 3Q25 vs. 7.3% in 4Q25). The coverage ratio expanded by 3.0 p.p. to 133%.

  1. NII = Financial revenue - Financial expenses - Loan Operation Commission.

  2. NIM = (NII x 4) / Average Spread Sensitive Portfolio.



  3. Adjusted NIM for Risk = (NII - Loss x 4) / Average Spread Sensitive Portfolio..

  4. Coverage Ratio = Allowance for Doubtful Accounts / Balance of portfolio overdue for over 90 days. 18

Financial Solutions for Credit

Credit Card

82.5

79.0

82.8

82.3



+12.3%



90.3

3,433

3,558

3,643

3,676

3,855

16.5

15.9

16.5

16.9

18.5

4Q24 1Q25 2Q25 3Q25 4Q25

4Q24 1Q25 2Q25 3Q25 4Q25

Ready-to-use cards (thousands) Number of transactions (million) TPV (R$ billion)

The total number of credit cards reached 3.86 million in 4Q25, accounting for an increase of 12.3% compared to 4Q24.

Total payment volume (TPV) grew 12.3% in 4Q25 compared to 4Q24, reaching RÇ 18.5 billion. Driven by greater engagement from the active base, the increase in the transaction volume directly reflected in the expansion of revenues. The average value transacted per card increased by 2.6%, while the number of transactions was 90.3 million, 9.4% above the same period of the previous year.

4Q24 1Q25 2Q25 3Q25 4Q25

Credit Release (R$ million)

In 4Q25, the volume of credit released reached RÇ 687 million, accounting for a growth of 38.9% compared to 4Q24.

Loans and Financing (L&F)

+38.9%

687

495

530

437

495



The developments and improvements made to the digital contracting journeys, especially in the Porto app, were fundamental to the growth in sales.

The results reinforce Porto's focus on intelligently digitizing while maintaining the proximity and trust that the broker represents, but adding an additional distribution model, in a direct manner. This strengthens the loan portfolio, allowing for a more resilient client base aligned with the Porto ecosystem.



19

Consortium

Revenue

R$ 484.0 M

+38.0% YoY¹

Managed Portfolio

The Consortium Credit Portfolio reached RÇ 107.3 billion, representing an expansion of (35.9% YoY). This performance was driven by the growth of 40.0% in the vehicle segment and 34.9% in the real estate modality.

R$ 107.3 B

+35.9% YoY

After the implementation of the new technology platform, we concluded in 4Q25 the compliance with Resolution 4966/352, as well as the evolution of the method of deferral of revenue and cost, with retroactive effects in the year 2025. Excluding these impacts, revenue shows growth of 16.3% (QoQ) and 38.0% (YoY).

Revenue

(R$ million)

484¹

Active Businesses

(thousands)

351

373

377

416

154

54

246

2304

4

245

270

121

132

128

146

208

233

217

217

294

267

204

199

190

249

256

408 416 438

523 543

4

4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25

Real Estate

Vehicles

Pro-forma revenue

Real Estate (thousand) Vehicles (thousand)

The active business base of the consortium segment of Porto Bank reached 543 thousand quotas, representing a 33.3% YoY expansion, which reaffirms the solidity and effectiveness of the strategies adopted for the product. In 2025, the business showed an increase in credit sales of 37.4% in relation to 2024.

Managed Portfolio

The Consortium Credit Portfolio reached RÇ 107.3 billion in 4Q25, recording a growth of 35.9% compared to the same period of previous year. The main highlights were the growth of 40.0% in the vehicle segment and 34.9% in the real estate modality. These results reflect the efficiency in the management of the administered groups and the effectiveness of the sales and origination strategies for new business.

+35.9%

78.9

15.3

81.2

16.4

82.2

16.7

102.5

20.5

107.3

21.4

82.0

85.9

63.6

64.8

65.5



4Q24 1Q25 2Q25 3Q25 4Q25

Real Estate (R$ billion) Vehicles (R$ billion)

Group Management

The groups managed recorded a positive performance in 4Q25, with a highlight on the significant increase in awarded consortiums and improvement in the quality of the portfolio. Over 21 thousand units awarded (RÇ 2.5 billion in letters of credit), accounting for an increase of 33.0% YoY.



(1) Excluding the effects of the improvement in the Consortium's revenue and cost deferral method through the systemic implementation of the new granular control

model by group and quota. 20

Financial Solutions for Rent and Guarantee

Revenue

R$ 321.4 M

+16.4% YoY

Rental Guarantee Contracts

467.5 K

+7.9% YoY

Premium Bonds Portfolio

R$ 2.4 B

+17.1% YoY

Revenue

(R$ million)

Active Contracts

(thousands)

+7.9%



43

47

47

64 54

233

237

249

260

268

+16.4%

276

285

297

324

321



433 442 445 455 467

334

340

340

350

359

99 102 104 106 108

4Q24 1Q25 2Q25 3Q25 4Q25

Landlord Protection Premium Bonds

4Q24 1Q25 2Q25 3Q25 4Q25

Landlord Protection Premium Bonds

Premium Bonds Portfolio

(R$ billion)

Credit losses

2.09

2.17

2.27

2.34

2.44

40.9%

38.0%

39.7%

34.3%

32.7%



4Q24 1Q25 2Q25 3Q25 4Q25

4Q24

1Q25

2Q25

3Q25

4Q25

Revenue from Landlord Protection totaled RÇ 267.7 million in 4Q25, with a growth of 15.1% compared to the previous year. The product remains consolidated in the leadership of the rental market, with a 53.1% share, reinforcing its relevance and competitiveness.

The credit loss improves by 7.0 p.p. QoQ driven by the lower frequency of claims and greater efficiency in reimbursements. Revenue from special savings bonds reached RÇ 464.5 million, accounting for an increase of 16.3% compared to 4Q24, reflecting

the continuous strengthening of the solution in the company's portfolio.

The performance of the two products highlights the effectiveness of the investment strategy in partnerships with real estate agencies, and reinforces the importance of responsible and regulated management of this business model.

Pension Plan

21.6 22.3 21.2 22.1 21.9

Effective Revenue and Active Participants

We have been focusing on actions with the purpose of improving funding. Furthermore, we have evolved in relationship actions with clients and brokers, such as monthly sessions with fund managers, preparation of suggested portfolios, among other initiatives.

Assets under Management

Pension Plan's assets under management reached RÇ 6.33 billion at the end of the quarter.



4Q24 1Q25 2Q25 3Q25 4Q25

Total Revenue (R$ million)

5.86 5.98 6.09 6.17 6.33

4Q24 1Q25 2Q25 3Q25 4Q25

Assets under Management (R$ billion)

21

Financial and Operational Summary and I/S

Financial and Operational Summary - Porto Bank

Card and Financing Operating

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Net financial revenues

751.3

542.3

38.5%

682.9

10.0%

2,774.8

2,054.5

35.1%

Gross financial revenue

864.1

617.7

39.9%

795.3

8.7%

3,179.5

2,373.7

33.9%

Financial expense

-112.8

-75.3

49.7%

-112.3

0.4%

-404.7

-319.3

26.8%

Fee-Based Revenue (1)

512.7

414.5

23.7%

459.0

11.7%

1,807.0

1,498.6

20.6%

Total Net Revenue (R$ million)

1,264.0

956.9

32.1%

1,141.9

10.7%

4,581.7

3,553.1

29.0%

Provision for Loan Losses - Chg. p.p. (2)

9.7%

7.7%

2.0

9.4%

0.3

9.7%

7.7%

2.0

Loan and financing contracts (thousand units)

113.6

108.0

5.2%

126.1

-9.9%

113.6

108.0

5.2%

Credit Card (thousand units)

3,855.1

3,432.5

12.3%

3,675.5

4.9%

3,855.1

3,432.5

12.3%

Commission

18.5

46.6

-60.3%

58.9

-68.6%

175.4

195.4

-10.2%

Credit losses

590.9

420.5

40.5%

468.8

26.1%

1,895.5

1,490.6

27.2%

Average Credit Portfolio Sensitive to Spread

19,183.0

16,190.1

18.5%

18,399.1

4.3%

19,183.0

16,190.1

18.5%

Write-Off to Loss Net of Recoveries

322.0

353.0

-8.8%

263.4

22.3%

322.0

353.0

-8.8%

Financial risks

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Net Financial Revenue (R$ million)

267.7

232.7

15.1%

260.1

2.92%

1,014.6

887.5

14.3%

Earned Premiums (R$ million)

255.6

223.6

14.3%

248.1

3.01%

970.2

844.6

14.9%

Financial result (R$ million)

12.2

9.1

34.1%

12.0

1.09%

44.4

42.9

3.4%

Credit Loss (%) - Chg. (p.p.)

32.7%

34.3%

-1.6

39.7%

-7.0

37.7%

38.8%

-1.1

Financial Risk Contracts (thousand)

359.4

333.6

7.7%

349.8

2.7%

359.4

333.6

7.7%

Premium Bonds

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Total Revenues (R$ million)

53.6

43.4

23.5%

63.7

-15.8%

212.2

167.0

27.1%

Fee-Based Revenue (R$ million)

31.0

25.8

20.2%

39.4

-21.4%

125.4

95.6

31.1%

Net Financial Revenue (R$ million)

22.6

17.6

28.2%

24.2

-6.7%

86.9

71.4

21.6%

Current Premium Bonds (thousand)

108.1

99.5

8.7%

105.7

2.3%

108.1

99.5

8.7%

Consortium

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Adjusted Total Revenues (R$ million) (3)

484.0

350.8

38.0%

416.1

16.3%

1,650.1

1,237.8

33.3%

Total Revenues (R$ million)

208.0

350.8

-40.7%

416.1

-50.0%

1,374.1

1,237.8

11.0%

Adjusted Total Revenues (R$ million) (3)

484.0

350.8

38.0%

416.1

16.3%

1,650.1

1,237.8

33.3%

Fee-Based Revenue (R$ million)

180.4

340.2

-47.0%

386.5

-53.3%

1,268.6

1,195.3

6.1%

Net Financial Revenue (R$ million)

27.6

10.6

159.7%

29.6

-7.0%

105.5

42.4

148.7%

Active Business (thousand)

543.3

407.6

33.3%

523.0

3.9%

543.3

407.6

33.3%

Other products

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Revenue with Other Products (R$ million) (4)

4.2

0.2

-

59.8

-92.9%

119.6

1.3

-

Total Porto Bank

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Total Revenues (R$ million) (5)

1,797.6

1,583.9

13.5%

1,941.7

-7.4%

7,302.2

5,846.6

24.9%

Net Income (R$ million)

219.4

162.4

35.1%

196.0

11.9%

811.7

632.2

28.4%

ROAE (%) - Chg. (p.p.)

28.4%

26.7%

1.7

26.1%

2.3

26.2%

26.0%

0.3

Efficiency Ratio (%) - Chg. (p.p.) (6)

32.2%

33.5%

-1.3

33.8%

-1.6

33.1%

33.1%

0.0

Managerial Income Statement - Porto Bank

I/S - Porto Bank

4Q25

4Q24

∆

3Q25

∆

2025

2024

∆

Fee Based

741.2

781.1

(5.1)

900.8

(17.7)

3,264.2

2,790.8

17.0

Net financial revenues (i)

1,056.3

802.9

31.6

1,040.8

1.5

4,038.0

3,055.9

32.1

Total Revenues (6)

1,797.6

1,583.9

13.5

1,941.7

(7.4)

7,302.2

5,846.6

24.9

Tax Expenses

(106.4)

(108.0)

(1.5)

(113.5)

(6.3)

(432.7)

(375.0)

15.4

Net revenue

1,691.2

1,475.9

14.6

1,828.1

(7.5)

6,869.5

5,471.7

25.5

Credit Losses (ii)

(687.2)

(497.1)

38.3

(569.8)

20.6

(2,279.7)

(1,818.4)

25.4

Total expenses

(609.3)

(700.7)

(13.1)

(881.1)

(30.9)

(3,068.6)

(2,532.3)

21.2

Commission

72.0

(222.8)

(132.3)

(298.2)

(124.2)

(732.1)

(798.5)

(8.3)

Operating Expenses

(416.8)

(274.4)

51.9

(313.7)

32.8

(1,353.7)

(988.8)

36.9

Administrative Expenses

(264.5)

(203.5)

30.0

(269.1)

(1.7)

(982.8)

(745.0)

31.9

Results before Tax

394.7

278.2

41.9

377.3

4.6

1,521.3

1,121.1

35.7

Income Tax and Social Contribution

(109.4)

(75.2)

45.4

(118.5)

(7.7)

(462.9)

(334.8)

38.2

Profit Sharing

(64.2)

(42.9)

49.5

(62.1)

3.3

(246.8)

(166.4)

48.3

Result from Investee Companies

(1.8)

2.4

(176.6)

(0.6)

182.0

0.1

12.3

(99.3)

Net Income (R$ million)

219.4

162.4

35.1

196.0

11.9

811.7

632.2

28.4

ROAE (%) - Chg. (p.p.)

28.4%

26.7%

1.7

26.1%

2.3

26.2%

26.0%

0.3

Financial Risk Monitoring Framework - Bank Vertical Income

Statement

4Q25

4Q24

∆

3Q25

∆

2025

2024

∆

(i) Earned Premium embedded in Financial Revenues

255.6

223.6

14.3

248.1

3.0

970.2

844.6

14.9

(ii) Retained Claims embedded in Credit Loss

(83.4)

(76.6)

9.0

(98.4)

(15.2)

(366.0)

(327.7)

11.7

(i) Financial Result embedded in Financial Revenues

12.2

9.1

34.1

12.0

1.1

44.4

42.9

3.4

  1. The fee-based breakdown is as follows: revenue from services/other, revenue from the provision of consortium services, revenue from capitalization and revenue from other services;

  2. For the calculation of this indicator, we consider only the Prevision for Loan Losses and portfolio up to 360 days in arrears, to maintain comparability with the history;

  3. Excluding the effects of improvements to the Consortium's revenue and cost deferral method, Porto Bank's total revenue would be R$ 2.1 billion in 4Q25 (+30.9% YoY) and R$ 7.6 billion in 2025 (+29.6% YoY).

  4. Starting from 1Q25, the Pension Plan product began to be accounted for in the Porto Bank vertical. Previously, the product was located in Porto Seguro Vertical;



  5. Financial Risks consider Earned Premiums + Financial Revenues;

  6. Efficiency Ratio New Methodology = (Operating and Administrative Expenses - Rewards) / (Revenue Net of Taxes - Commission - Rewards). 22

4Q25 EARNINGS RELEASE PORTO SEGURO S.A.

Porto Serviço 4Q25

MURILLO

Residential Service Provider

13 years with Porto

23



698 K

car services in 4Q25

709 K

services for homes and businesses in 4Q25

81

NPS of Services in 2025

Porto Serviço operates in three segments: Porto Seguro Partnership, Strategic Partners and Digital Products, with a wide portfolio of mobility services (such as towing, tire changing and others) and for homes and companies (such as installation and maintenance of household appliances and hydraulic and electrical assistance, among others).

Porto Serviço, through the Porto Seguro Partnership, offers services to Porto clients, included in insurance policies. On the other hand, the Strategic Partnerships line includes services offered in the B2B2C model, such as automotive assistance for automakers, rental companies and insurance companies and installation services for household appliances, TVs and help desks for clients of large retailers in the country, as well as services for utilities, telecom and payment companies.

Vertical has been expanding the number of strategic partnerships with clients outside the Porto Seguro Partnership, with the aim of promoting the increase in diversification of the areas of operation.

The Digital Products' service line has assistance services offered even to those who are not Porto clients, under B2C model. We are intensifying actions in the segment, aiming to expand this line of business through initiatives with brokers and digital offers in condominiums.



Porto Serviço ended 4Q25 with revenue of RÇ 662.9 million (+3.4% vs. 4Q24), consolidating annual revenue at RÇ 2.6 billion (+2.1% vs. 2024). Throughout the year, there was a reduction in the volume of services derived from the Porto Seguro Partnership, reflecting a lower severity and changes in the mix of the Insurance operation. On the other hand, the digital products segment achieved a growth of 72.7% in annual revenue, driven by a broader portfolio of services compared to the traditional benefits of insurance policies, the launch of new service bundles, and the intensification of media campaigns at the end of the year.

Revenue from Strategic Partnerships

and Digital Products

Income Distribution

0.7%

0.7%

0.7%

0.8%

0.9%

26.1%

23.9%

23.4%

22.6%

24.1%



171.7

4.6

164.6

4.5

150.4

4.5

141.2

4.6

166.2

6.3

167.1

160.1

145.8

136.6

159.9



73.2%

75.4% 75.9%

76.7%

74.9%

4Q24

1Q25

2Q25

3Q25

4Q25

4Q24

1Q25

2Q25

3Q25

4Q25

Strategic Partnerships (R$ million) Digital Products (R$ million)

Porto Seguro Partnership Strategic partnerships

Digital Products

Net Income and Profitability*

EBITDA and EBITDA

Margin

R$ 108.2 M of EBITDA in 4Q25

16% EBITDA

Margin in 4Q25

25.6%

25.8%

26.3%

36.1%

21.5%

17.8%

83.5

58.9

53.6

45.1

38.4



71.5

26.7%

66.7

22.0%

56.8

18.6%

49.1

34.4%



91.1

4Q24 1Q25 2Q25 3Q25 4Q25 4Q24 1Q25 2Q25 3Q25 4Q25

Porto Result (R$ million) ROAE (% p.a.) Porto Result + Minority Interest (R$ million)

In the fourth quarter of 2025, we achieved net income of RÇ 83.5 million (+41.9% vs. 4Q24), EBITDA of RÇ 108.2 million (+5.1% vs. 4Q24), EBITDA margin of 16.3% (+0.3 p.p.), and ROAE of 36.1% (+10.2 p.p.). In the quarter, the merger of the companies Porto Assistência and CDF by Porto Serviço generated a tax benefit of RÇ 30.0 million.

We maintained the focus on structuring, expansion of partnerships and sales of digital products, seeking to extend the provision of

recognized quality services to users other than just the Company's insured parties.

*The Shareholders' equity in 1Q25 dropped R$ 130.7 million, resulting in a consequent benefit for the ROAE, due to the following factors: (i) acquisition of 6.7% of minority



shares by Porto Assistência, a subsidiary that is part of the DRE of Porto Serviço, and (ii) distribution of dividends. 24

Financial and Operational Summary and I/S

Financial and Operational Summary - Porto Serviço

Porto Seguro Partnership

4Q25

4Q24

∆

3Q25

∆

2025

2024

∆

Revenues from Services (R$ million)

496.8

469.6

5.8%

464.3

7.0%

1,940.2

1,911.4

1.5%

Business (thousand)

1,096.0

1,113.8

-1.6%

1,092.6

0.3%

1,096.0

1,113.8

-1.6%

Strategic partnerships

4Q25

4Q24

∆

3Q25

∆

2025

2024

∆

Revenues from Services (R$ million)

159.9

167.1

-4.3%

136.6

17.1%

602.5

586.7

2.7%

Business (thousand)

5,536.6

6,192.3

-10.6%

5,399.5

2.5%

5,536.6

6,192.3

-10.6%

Digital Products

4Q25

4Q24

∆

3Q25

∆

2025

2024

∆

Revenues from Services (R$ million)

6.3

4.6

37.7%

4.6

35.9%

20.0

11.6

72.7%

Business (thousand)

11.6

7.3

58.4%

5.9

95.5%

11.6

7.3

58.4%

Total Service

4Q25

4Q24

∆%/p.p.

3Q25

∆%/p.p.

2025

2024

∆%/p.p.

Total Revenues (R$ million)

662.9

641.2

3.4%

605.5

9.5%

2,562.6

2,509.7

2.1%

Net Income before Minority Interest (R$ million)

91.1

71.5

27.5%

49.1

85.5%

263.8

250.5

5.3%

Minority Interest (R$ million)

-7.6

-12.7

-39.9%

-10.7

-29.2%

-43.2

-45.9

-6.0%

Net Income (R$ million)

83.5

58.9

41.9%

38.4

117.6%

220.6

204.6

7.8%

EBITDA (R$ million)

108.2

103.0

5.1%

91.0

19.0%

414.2

411.1

0.8%

EBITDA Margin (%) - Chg. (p.p.)

16.3%

16.1%

0.3

15.0%

1.3

16.2%

16.4%

-0.2

ROAE (%) - Chg. (p.p.)

36.1%

25.8%

10.2

17.8%

18.3

23.8%

22.5%

1.4

Managerial Income Statement - Porto Serviço

Porto Serviço

4Q25

4Q24

∆

3Q25

∆

2025

2024

∆

Service Revenue

662.9

641.2

3.4

605.5

9.5

2,562.6

2,509.7

2.1

Cost of services rendered

(404.0)

(363.7)

11.1

(380.9)

6.1

(1,557.0)

(1,440.7)

8.1

Tax Expenses

(35.0)

(31.3)

11.6

(27.2)

28.6

(121.2)

(122.8)

(1.3)

Commission

(42.1)

(51.0)

(17.3)

(35.3)

19.2

(176.0)

(205.2)

(14.2)

Operating Expenses

(4.2)

(14.7)

(71.5)

(6.6)

(37.0)

(27.9)

(38.1)

(26.6)

Income before Administrative Expenses

177.7

180.6

(1.6)

155.5

14.3

680.4

702.9

(3.2)

Administrative Expenses

(42.4)

(58.1)

(26.9)

(50.3)

(15.6)

(189.3)

(225.7)

(16.1)

Operating Result

135.2

122.5

10.4

105.2

28.6

491.1

477.2

2.9

Financial result

(2.4)

5.4

(144.9)

0.0

-

5.7

(9.8)

(158.4)

Amortization of Intangible Assets

(8.0)

-

-

(8.0)

(0.2)

(31.7)

-

-

Results before Tax

124.8

127.9

(2.4)

97.2

28.4

465.2

467.4

(0.5)

Income Tax and Social Contribution

(5.7)

(36.3)

(84.3)

(33.0)

(82.7)

(120.4)

(147.4)

(18.3)

Income before interests

119.1

91.6

30.1

64.2

85.5

344.8

320.0

7.7

Profit Sharing

(28.0)

(20.1)

39.6

(15.1)

85.7

(81.0)

(69.5)

16.6

Income before Minority Interest

91.1

71.5

27.5

49.1

85.5

263.8

250.5

5.3

Minority

(7.6)

(12.7)

(39.9)

(10.7)

(29.2)

(43.2)

(45.9)

(6.0)

Net Income

83.5

58.9

41.9

38.4

117.6

220.6

204.6

7.8

EBITDA (R$ million)

108.2

103.0

5.1

91.0

19.0

414.2

411.1

0.8

EBITDA Margin (%) - Chg. (p.p.)

16.3%

16.1%

0.3

15.0%

1.3

16.2%

16.4%

-0.2

ROAE (%) - Chg. (p.p.)

36.1%

25.8%

10.2

17.8%

18.3

23.8%

22.5%

1.4



25

4Q25 EARNINGS RELEASE PORTO SEGURO S.A.

Porto 4Q25

NATALIA

Renewal Operation Service

3 years of Porto

26



Financial Result | 4Q25

Investment Portfolio

(R$ B)

R$ 23.4 B

Investment Portfolio

20.3 21.1 21.6 22.8 23.4

(Dec '25)

2.5

2.7

2.6

3.0

3.2

6.1

12.9

11.9

5.9

12.5

6.0

14.0

6.2

13.6

6.2

4Q24

1Q25

2Q25 3Q25 4Q25

Bank¹

Other Assets Pension Plan Reserves¹

(1) Return on investments allocated in the Porto Bank Vertical

Breakdown of Investment Portfolio

Benchmark Return by asset class

Benchmark

4Q25

3Q25

4Q24

1.2%

3.5%

JGP Index-CDI 3.4%

-8.7%

5.3 %

10.2%

Ibovespa

Accumulated IPCA 0.6% 0.6% 1.5%

3%

4% 2%

4% 3%

19%

15%

19%

41%

36%

38%

39%

37%

35%

3%

4Q24

Equities Corporate Bonds²

3Q25

Floating rate Fixed rate³ ⁴

4Q25

Inflation-linked³

  1. Allocation primarily in floating rates.

  2. Allocation mostly marked on the curve.

  3. In 4Q25, we had an increase in the duration of fixed-rate securities through derivatives, despite the reduction in the percentage exposure of the equity.

Profitability of Financial Investments vs. CDI

Risk Indicators of Investment Portfolio

Ex-pension

plan % CDI

Last 3 months

2.0%

56.4%

Ex-pension,

rollovers and ALM

2.8%

% CDI

79.3%

In the year 10.8% 75.1% 12.1% 84.5%

0.6%

0.6%

0.5%

0.5%

0.6%

0.5%

0.6%

0.7%

0.4%

1.0%

Last 60 months

56.8%

83.4%

58.7%

86.2%

Position as of: 12/31/2025

4Q24 1Q25 2Q25 3Q25 4Q25

Stress % NAV Annualized Vol



27

Financial Result | 4Q25

The Financial Results was R$ 288.8 million in 4Q25 (+6.3% vs. 4Q24) and de R$ 1.43 billion in 2025 (55.7% vs. 2024)

Revenue from the financial investment portfolio (ex-pension plan, rollover of securities and ALM), managed by the Treasury, was RÇ 472.9 million in 4Q25, which accounts for 79.3% of CDI. The results of 4Q25, when compared to the CDI, were impacted by allocations in inflation-linked bonds. The main impact of the securities marked on the curve is the result of a portfolio rollover (impact of RÇ -109.4 million in 4Q25), with mark-to-market recognition. The rollover will lead to an increase in the average rates of inflation-linked bonds and a lengthening of the duration of the bonds held in the portfolio.

The total portfolio of financial investments, which includes resources from pension plan participants, reached RÇ 23.4 billion. Excluding resources from social security technical reserves, the total portfolio of financial investments totaled RÇ 17.2 billion and reached a return of 2.0% in the quarter (56% do CDI).

The Company considers the pursuit of capital preservation to be a relevant objective within the strategy for allocating the financial investment portfolio due, for example, to the need to protect operations against inflationary components (e.g.: parts inflation, which has an impact on the cost of motor vehicle insurance indemnities, collective bargaining, among others). And for that, it incorporates other asset classes in its portfolio allocation, which may result in a detachment in relation to the CDI.

Breakdown of Nominal Portfolio - 4Q25

(R$ M)

Breakdown of Nominal Portfolio - 2025

(R$ M)

2.7

24.8

336.0

(56.4%)

472.9

(79.3%)

109.4

5.7

84.2

1,787.3

(84.5%)

109.4

1,588.0

(75.1%)

Total Revenue (% CDI)

Pension Plan (Traditional) (1)

ALM PortoCap (1) Rollover of

securities

Adjusted Revenue (% CDI)

Total Revenue (% CDI)

Pension Plan (Traditional) (1)

ALM PortoCap (1) Rollover of

securities

Adjusted Revenue (% CDI)

Income from Financial Investments

Income from financial investments

4Q25

4Q24

Δ %

3Q25

Δ %

2025

2024

Δ %

Revenue Managed by the Treasury¹

472.9

346.6

36.4

450.5

5.0

1,787.3

1,187.9

50.5

Impact of ALM, Pension Plan and Rollout

(136.9)

(36.7)

273.0

(27.5)

397.8

(199.3)

(93.3)

113.6

Total revenue from financial investments

336.0

310.0

8.4

423.0

(20.6)

1,588.0

1,094.7

45.1

Result of Business Allocations at Porto Bank and Resources not Managed by the Treasury

(78.3)

(59.1)

32.5

(80.3)

(2.5)

(281.6)

(235.1)

19.8

Result from financial investments²

Additional fractionation³

257.7

39.5

250.9

40.7

2.7

(3.0)

342.7

39.4

(24.8)

0.1

1,306.4

155.0

859.6

167.8

52.0

(7.6)

Interest on Loans

(13.6)

(20.8)

(34.8)

(15.1)

(10.2)

(48.8)

(74.1)

(34.1)

Other financial results

5.2

26.1

(80.2)

15.8

(67.4)

17.8

12.5

42.7

Financial Result - ex. pension plans

288.8

296.8

(2.7)

382.8

(24.6)

1,430.3

965.8

48.1

Financial Result of the Pension Plan Operations4

-

(25.2)

(100.0)

-

-

-

(47.4)

(100.0)

Total financial result

288.7

271.6

6.3

382.8

(24.6)

1,430.2

918.4

55.7



(1) Result generated on funds invested by the Company to mitigate the mismatch between assets and liabilities (ALM) of Traditional Pension Plan operations (product whose sale was discontinued), Loan Operations (Porto Bank) and Capitalization (PortoCap). (2) The difference between total treasury revenue (R$ 450.5 M in 3Q25) and the result of financial investments (R$ 382.8 M in 2Q25) is explained by adjustments to allocations between lines of income from financial services which are currently reallocated mainly to Porto Bank and to funds not managed by the treasury area. (3) Result related to the installment payment of policies in the Insurance vertical. (4) As of 1Q25, the results of

pension plan operations began to be allocated to the financial revenues of Porto Bank. 28



Capital, Projections and Market Indicators | 4Q25

Investments and Capital Adequacy

Investments (CAPEX) - (R$ million) Capital Adequacy* - (R$ million)

543

421

470

363

367

94

2,366

6,490

921

2,460

2,940 11,890

2021 2022 2023 2024 2025

Insurance

5.569

7.935

3.955

Companies

Financial Holding

company

PLA

Capex (R$ million) Capital Sufficiency Capital Requirement

We have made significant investments (CAPEX) in innovation and digital transformation projects, such as our Sales Hub, which allows the purchase of Porto products on a single digital platform; the R3 project, with the purpose of incorporating Azul, with several expected synergy and systems shutdown benefits; the Corporate account project of Porto Bank, which will enable service to several stakeholders inside and outside the Porto ecosystem; the Orquestrador Project, which centralizes all technology and payment policy; the Project to adapt to the Tax Reform; in addition to recurring investments in information security, systems development, acquisition of software licenses and hardware infrastructure, such as servers and notebooks, aimed at improving and controlling processes of technological renewal of the Company.

Adjusted shareholders' equity (PLA): Shareholders' Equity adjusted by additions and deletions, in accordance with SUSEP, BACEN, National Regulatory Agency for Private Health Insurance and Plans (ANS) and Central Bank of Uruguay regulations;

Capital requirement: minimum capital required in accordance with the regulatory models of SUSEP, BACEN, National Regulatory Agency for Private Health Insurance and Plans (ANS) and the Central Bank of Uruguay;

Capital Sufficiency: difference between the Adjusted Net Worth and the capital requirement.

(*) The capital adequacy required does not necessarily reflect the capital adequacy of the verticals, but the accounting capital.



29



Guidance

Guidance 2025 - Realized





A table is presented below showing the Company's guidance and figures for 2025:

Range

Realized

Range

Realized

Vertical Earned Premium Change (vs. 2024)

+2% at +5%

+3%



Vertical Earned Premium Change (vs. 2024) +25% to +40%

29%



Vertical Loss Ratio

51% to 55%

52%



Vertical Loss Ratio 73% to 78%

75%





Vertical G&A Ratio

10.0% to 10.5%

Range

10.3%



Realized



Vertical G&A Ratio 4.5% to 5.5%

Range

5.0%



Realized

Total Vertical Revenue Change (vs. 2024)

+20% to +28%

+25%



Total Vertical revenue 2.4 to 2.6 B

2.6 B



Credit Losses (R$)

-2.0 to -2.3 B

-2.3 B



Vertical G&A Ratio 7.5% to 8.5%

7.4%



Efficiency Ratio

32 to 34%



33%



Range Realized

1.4 B

27%

1.2 to 1.4 B

28% to 32%

Financial income (loss) (R$)

Effective rate



Guidance 2026*

Guidance for the year 2026 on the evolution of indicators considered relevant by the Company:





*The Company clarifies that the projections disclosed reflect Management's expectations regarding the Company's business and therefore do not represent a promise of performance or result. The realization of these expectations will depend on several factors, many of them external to the Company, and actual results may differ from the projections presented. The projections will be monitored and reviewed by the Company, pursuant to the applicable regulations.

Range

Range

Vertical Earned Premium Change (vs. 2025) Vertical Loss Ratio

Vertical G&A Ratio

+3% to +7%

50.5% to 54.5%

10.0% to 10.6%

Vertical Earned Premium Change (vs. 2025) Vertical Loss Ratio

Vertical G&A Ratio

+14% to +22%

72% to 77%

4.7% to 5.7%



Range



Range

Total Vertical Revenue (R$ B)¹

7.5 to 7.9

Total Vertical Revenue (R$)

2.6 to 2.9 B

Credit Losses (R$)

-2.7 to -3.1

Vertical G&A Ratio

9% to 10%

Efficiency Ratio²

27% to 31%



Range

Financial Result (R$ bn) 1.4 to 1.8

Effective rate 28% to 32%

¹Total Revenue Porto Bank

Revenue impacted by improvements in the Consortium's revenue and cost deferral method and now net of expenses with rewards and card brands.

²Porto Bank Efficiency Ratio

New Porto Bank Efficiency Ratio calculation: (Operating and Administrative Expenses net of rewards and card brand fees) / (Revenue net of taxes, rewards, and card brand fees - Comission). Starting in 2026, rewards and card brand expenses are reclassified from operating expenses to revenue deductions. The projected 2026 efficiency ratio implies Administrative and Operating Expenses between R$ 1.8 billion and R$ 2.0 billion. Under this new criterion, 2025 administrative and operating expenses would have totaled R$ 1.6 billion.



30

ar