PicS (PICS) Registration Filing summary

Company overview and business model

• Operates a two-sided digital financial ecosystem in Brazil, offering payments, banking, credit, insurance, investments, and business solutions to consumers and SMBs.

• Core products include a digital wallet, Pix instant payments, credit cards, personal and payroll loans, insurance, and investment platforms.

• Business model leverages open platform integration, enabling third-party financial products and services distribution, and proprietary product origination.

• Monetizes through transaction fees, interchange, interest income, commissions, and merchant discount rates.

• Focuses on financial inclusion, product cross-sell, and engagement, with a strong presence among younger, lower- and middle-income consumers.

Financial performance and metrics

• For the nine months ended September 30, 2025: total revenue and financial income R$7.26B (+92% YoY), net profit R$314M (+82% YoY).

• For the year ended December 31, 2024: total revenue and financial income R$5.57B (+61% YoY), net profit R$252M (+573% YoY).

• Adjusted Gross Profit for 9M25: R$2.55B (+26% YoY); Efficiency Ratio improved to 56.9% from 75.9% YoY.

• Total payment volume (TPV) for 9M25: R$392B (+32% YoY); deposits as of Sep 30, 2025: R$26.7B (+61% YoY).

• Credit portfolio as of Sep 30, 2025: R$18.7B (+125% YoY); NPL over 90 days at 6.2%; credit loss allowance at 12.8% of portfolio.

• Quarterly active clients: 42.1M (+12% YoY); ARPAC for Q3 2025: R$65.4 (+71% YoY); cost to serve per client: R$17.8.

Use of proceeds and capital allocation

• Net proceeds will be used for general corporate purposes, working capital, operating expenses, regulatory capital, and capital expenditures.

• A portion is earmarked for the acquisition of Kovr, a digital insurance company, pending regulatory approval.

• May use proceeds for future acquisitions or investments in businesses, products, or technologies.