Caixa Seguridade Participações (CXSE3) investor relations material

Executive summary

• Managerial net income reached BRL 1,182.5m in Q3 2026, up 3.7% YoY and a quarterly record; accounting net income was BRL 1,179.5m, up 3.4%.

• Growth in equity income, earned premiums, pension reserves and Premium Bonds offset lower distribution revenue and pressure on Credit Life.

Financial highlights

• Managerial operating revenue was BRL 1,532.1m, up 1.5% YoY; 9M26 revenue reached BRL 4,555.9m, up 6.6%.

• Managerial 9M26 net income was BRL 3,466.3m, up 8.6%; accounting net income was BRL 3,489.7m, up 8.4%.

• Equity income was BRL 927.2m, up 6.0% YoY; distribution revenue was BRL 604.9m, down 4.7%.

• Insurance operating margin reached BRL 1,365m, up 7% YoY; accumulation operating margin was BRL 768m, up 1% YoY.

• Accumulation operating revenue was BRL 1,045.7m, up 5.5% YoY; distribution operating margin was BRL 464m in Q3 and BRL 1.4bn YTD.

Outlook and guidance

• No formal 2027 guidance; Credit Life premiums are projected above the 2026 projection, supported by potential rate relief, broader payroll-loan eligibility and digital distribution.

• Management expects Q4 recovery of strike-delayed sales; October rebounded strongly, with year-end seasonality expected to support pension and Credit Letters.

• Mortgage lending is expected to support mortgage insurance; bundled Home and Mortgage Insurance cross-selling is a longer-term premium-growth opportunity.

• An individual life product was expected by year-end, using CRM, predictive models and digital sales; Too Seguros' penalty could add an estimated non-recurring BRL 210m to 2026 net income.