Porto Seguro (PSSA3) investor relations material

Executive summary

• Achieved total revenue of R$10B in Q2 2025, up 12% year-over-year, and net income of R$878M, a 50% increase, with ROAE at 24.6%.

• First half 2025 revenue grew 13% to R$20B, net income up 38% to R$1.7B, and ROAE at 24%.

• Client base reached 18M active clients, reflecting strong ecosystem growth.

• Recognized as a top brand and employer in Brazil, entering the top 15 most valuable brands.

• Maintained focus on operational efficiency, digital transformation, and ecosystem strengthening.

Financial highlights

• Net income rose 50% year-over-year to R$878M in Q2 2025; total revenue increased 12% to R$10B.

• Financial investment portfolio revenue in Q2 2025 was R$431.2M, representing 86.4% of CDI.

• Operational margins for H1 2025 grew 25%, with an operational margin of 13% due to lower claims and expenses.

• Financial result reached R$376M, up 121% year-over-year.

• Effective income tax rate decreased to 28.4% from 33.0% in Q2 2024.

Outlook and guidance

• Porto Saúde premium growth guidance revised to 25–40%, loss ratio to 73–78%.

• Porto Bank revenue expected to grow 20–28% year-over-year; efficiency ratio projected at 32–34%.

• Effective tax rate guidance revised to 28–32% due to higher SELIC rates.

• Porto Seguro earned premium growth projected at 2–5%.

• Financial result guidance maintained, expecting stable revenue despite lower IPCA in H2.