B3 - Brasil, Bolsa, Balcão (B3SA3) investor relations material

Executive summary

• Total revenues reached R$2.75 billion, up 0.7% year-over-year and 3.3% sequentially, supported by a diversified business model.

• Net income rose 6.6% year-over-year to R$1.33 billion, with EPS up 13.4%, reflecting operational resilience and buyback execution.

• Recurring EBITDA margin was 69.8%, down 353 bps year-over-year but up sequentially.

• Cash generation before distributions, capex, and acquisitions was R$4,256 million for 6M25.

• New product launches included Ethereum and Solana futures, and regulatory changes aim to facilitate capital market access for SMEs.

Financial highlights

• Net revenues grew 3.5% year-over-year and 6.5% sequentially, reaching R$2.54 billion, with a R$75 million non-recurring tax credit impact.

• Recurring EBITDA was R$1.72 billion, down 2.7% year-over-year but up 3.7% sequentially; margin at 69.8%.

• Recurring EPS rose 13.4% year-over-year and 20.2% sequentially to R$0.25.

• R$580 million was returned to shareholders via interest on capital and buybacks.

• Gross indebtedness at the end of June was 2.2x recurring LTM EBITDA.

Outlook and guidance

• Expense growth expected to align more closely with inflation, with less volatility between quarters.

• Management highlights ongoing risks from market volatility, regulatory changes, and technological shifts.

• Focus remains on expanding product offerings and maintaining competitiveness in domestic and foreign markets.

• Robust pipeline of new products, especially in crypto and interest rate derivatives, to continue throughout the year.

• On track to deliver expense guidance for the year, with deceleration in expense growth expected in the second half.