Porto Seguro (PSSA3) investor relations material

Executive summary

• Recurring net income reached R$889 million in Q2 2026, up 1% year-over-year, with ROAE at 22% for the quarter, maintaining above 20% for the eighth consecutive quarter.

• Total revenues rose 11% year-over-year to R$11 billion, reflecting robust growth across all business verticals.

• Net income for H1 2026 reached R$2.03 billion, up 17% year-over-year, with a strong capital position and operational efficiency.

• The diversified business model enabled consistent profitability and resilience across market cycles.

• Client base grew by 1.2 million to 18.9 million, with NPS for brokers at 86 points.

Financial highlights

• Consolidated total assets reached R$58.9 billion as of June 2026, up from R$55.9 billion at year-end 2025.

• Recurring net income for Q2 2026 was R$889 million (+1% YoY); net income for H1 2026 was R$2.03 billion (+17% YoY).

• Porto Seguro ROAE: 32.9%; Porto Saúde: 24%; Porto Bank: 16.3%; Porto Serviço: 25.4%.

• Health revenue rose 14.4% to R$2.3 billion, with net income up 36.4% to R$144 million.

• Bank revenue grew 16.6% to R$1.9 billion, but net income fell 32% to R$138 million due to higher credit losses.

Outlook and guidance

• 2026 guidance maintained: insurance premium growth of 3–7%, health premium growth of 14–22%, and efficiency ratios for all verticals in line with previous projections.

• Porto Bank's credit loss guidance revised to R$3.1–3.5 billion, efficiency ratio target 24–28%.

• Financial result guidance for 2026 is R$1.4–1.8 billion.

• Management notes that projections are subject to external factors and may be revised.

• Expectation of slightly higher loss ratios industry-wide next year, but company expects to maintain technical discipline.