Financial Data and Key Metrics Changes - Adjusted pre-tax earnings reached BRL 241 million for Q4 2025, 12.1% above guidance, and BRL 592 million for the full year, 11.5% above guidance [4] - Adjusted net income was BRL 180 million for Q4, 31.5% above guidance, and BRL 502 million for the full year, 14.1% above guidance [5] - Net revenues grew to BRL 3 billion in Q4, up 69% year-over-year, and BRL 10.3 billion for the full year, an 85% increase [9] Business Line Data and Key Metrics Changes - Total payment volume reached BRL 157.5 billion in Q4, up 28%, and BRL 550 billion for the full year, a 31% increase [6] - Cash-in grew to BRL 139.4 billion in Q4, up 27%, and BRL 483.4 billion for the year, up 29% [7] - Deposits increased by 44%, reaching BRL 28.7 billion, indicating growing client trust [7] Market Data and Key Metrics Changes - The credit portfolio reached BRL 24.1 billion, up 128% year-over-year, driven by secured and unsecured products [8] - Personal loans origination more than doubled in Q4, reaching BRL 4.4 billion, up 116% [8] - The average revenue per active client (ARPAC) rose to BRL 71 in Q4, up 52% [9] Company Strategy and Development Direction - The company is focusing on expanding its affluent consumer segment with the launch of Epic, targeting high-income clients [12] - A new Global Account was introduced, allowing multi-currency balances and a global debit card [13] - The strategy includes deepening integration with small and medium businesses and enhancing the B2B ecosystem [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong growth while managing asset quality, particularly with the shift towards secured products [47] - The company anticipates continued revenue growth and margin expansion in 2026, focusing on credit product penetration and customer engagement [41][42] - Management acknowledged the competitive landscape but remains optimistic about sustaining growth despite new entrants [66][70] Other Important Information - The company reported a significant shift in revenue mix, with float fees and commissions now representing 48% of revenues [10] - The efficiency ratio fell below 50% for the first time, reflecting improved operational leverage [28] - The company is actively seeking additional funding sources to support rapid credit portfolio growth [36][37] Q&A Session Summary Question: Asset quality and credit growth sustainability - Management expects to maintain a strong growth pace with improving asset quality, particularly due to the focus on secured products [47] Question: Evolution of third-party card transactions - Revenues from third-party credit cards represent low teens percentage of total net revenues, with a significant shift towards PicPay's own credit capabilities [49] Question: AI efforts and efficiency - The company has integrated AI into customer service, avoiding the need for thousands of customer service representatives, and is leveraging AI for cross-selling [59] Question: Seasonality in first-quarter guidance - Management acknowledged that Q1 is typically weaker but expects strong performance, with credit card TPV and loan origination remaining robust [64][65] Question: Competition in the private payroll product market - While competition is increasing, management believes they can maintain growth due to strong product offerings and customer relationships [66][70]

Financial Data and Key Metrics Changes - Adjusted pre-tax earnings reached BRL 241 million for Q4 2025, 12.1% above guidance, and BRL 592 million for the full year, 11.5% above guidance [3] - Adjusted net income was BRL 180 million for Q4 2025, 31.5% above guidance, and BRL 502 million for the full year, 14.1% above guidance [4] - Net revenues grew to BRL 3 billion in Q4, up 69% year-over-year, and BRL 10.3 billion for the full year, an 85% increase [8] - Gross profit for the year was BRL 3.6 billion, up 28%, with earnings before taxes reaching BRL 241 million in Q4, nearly four times the prior year [9] Business Line Data and Key Metrics Changes - Total payment volume reached BRL 157.5 billion in Q4, up 28%, and BRL 550 billion for the full year, a 31% increase [5] - Cash-in accelerated to BRL 139.4 billion in Q4, up 27%, and BRL 483.4 billion for the year, up 29% [6] - Deposits grew 44% to BRL 28.7 billion, indicating increased client trust [6] - Personal loans origination more than doubled in Q4 to BRL 4.4 billion, up 116%, totaling BRL 11.4 billion for the year, a 67% increase [7] Market Data and Key Metrics Changes - The credit share of wallet for existing customers stands at around 6%, indicating significant growth potential [18] - Market share for private payroll loans increased from 0% to 3.7% in one year, while personal loans market share nearly doubled from 0.9% to 1.78% [19] Company Strategy and Development Direction - The company is focusing on expanding its affluent consumer segment with the launch of Epic, targeting high-income clients [11] - A Global Account was introduced to extend services beyond Brazilian reais, offering multicurrency balances and a global debit card [12] - The strategy includes deepening integration between consumer banking and business platforms to enhance service offerings for small and medium businesses [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth while maintaining asset quality, particularly with the shift towards secured products [45] - The company anticipates continued revenue growth and margin expansion, driven by increased credit product penetration and enhanced customer engagement [40] Other Important Information - The company reported a significant shift in revenue mix, with float fees and commissions now representing 48% of revenues, indicating a more balanced revenue base [10] - The average revenue per active client (ARPAC) rose to BRL 71 in Q4, up 52% year-over-year [8] Q&A Session Summary Question: Asset quality and credit growth sustainability - Management expects to maintain a strong growth pace with improved asset quality, projecting a cost of risk between 3.5%-3.7% for 2026 [44][46] Question: Evolution of third-party card transactions - Revenues from third-party credit cards represent low teens percentage of total net revenues, with PicPay Card becoming the primary funding source for transactions [47][48] Question: AI efforts and efficiency - The company has integrated AI into customer service, significantly reducing the need for customer service representatives and enhancing revenue through AI-driven recommendations [53][56] Question: Seasonality in first quarter guidance - The first quarter is traditionally the weakest, but the company expects strong performance, with credit card TPV and loan origination remaining robust [60][63] Question: Competition in private payroll product market - While competition is increasing, the company believes it can maintain growth due to operational improvements and a strong market position [64][66]

4Q25 & 2025 Earnings Presentation March 18, 2026 1 Disclaimer Agenda Forward - Looking Statements This presentation contains forward -looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (the "forward -looking statements") . All statements other than statements of historical fact ...

As filed with the Securities and Exchange Commission on January 20, 2026. Registration No. 333-292572 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ––––––––––––––––––––––––––––––––––– Amendment No. 1 to FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ––––––––––––––––––––––––––––––––––– Picpay Holdings Netherlands B.V.* (Exact Name of Registrant as Specified in its Charter) ––––––––––––––––––––––––––––––––––– The Netherlands 7389 N/A (State or other jurisdiction of ...

As filed with the Securities and Exchange Commission on January 5, 2026. Registration No. 333-______ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ––––––––––––––––––––––––––––––––––– FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ––––––––––––––––––––––––––––––––––– Picpay Holdings Netherlands B.V.* (Exact Name of Registrant as Specified in its Charter) ––––––––––––––––––––––––––––––––––– The Netherlands 7389 N/A (State or other jurisdiction of incorporation or org ...