Earnings release
Page 1
19710.53-187.99 2Q26 RESULTS B3 ANNOUNCES THE RESULTS FOR THE SECOND QUARTER OF 2026 14 16:30 171 [ B ] ³
Page 2
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 2 HIGHLIGHTS OF THE QUARTER ▪ R evenue of R$3 . 1 billion (+12% vs. 2 Q 25) , r eflecting 8% growth in procyclical revenues and 17% growth in the recurring revenue group ▪ Average daily traded volume (ADTV) of R$31 . 3 billion in Equities (+20% vs. 2 Q 25) , with highlights including 42% growth in BDRs and 74% growth in Listed Funds ▪ Public offerings totaled R$11.6 billion , comprising a R$3.0 billion IPO, the first in 5 years , and R$8.6 billion in follow - ons ▪ Resilience in derivatives, with revenue virtually stable in a more challenging volume environment, reflecting the recovery presented in June, the second highest month in terms of volume over the last 12 months, and the efficiency of the pricing model ▪ Continued growth in recurring revenues, with highlights including Data Analytics Solutions (Trillia) (+22%), Fixed Income and Credit (+17%), Capital Markets Solutions (+26%), and Technology and Platforms (+16%) ▪ Recurring EBITDA of R$1.9 billion, with a recurring EBITDA margin of 70% ▪ Distributions of R$ 1.3 billion in 2Q26, comprising R$ 1.1 billion in IoC and R$ 0.2 billion in share buybacks ▪ Recurring net income of R$ 1.4 billion (+8% vs. 2Q25), and recurring earnings per share of R$ 0.28 , up by 12% ▪ Beginning of supervised production of electronic trade receivables in July, launch of Financial Event Contracts linked to GDP and IPCA, expansion of assets eligible for RLP, start of the market maker program for debentures, and launch of new indices in the B3 Treasury IPCA family 1 Expenses adjusted for: (i) depreciation and amortization; (ii) long - term share - based incentive program – principal and charges; (iii) provisions; (iv) revenue - linked expenses; and (v) other extraordinary expenses . ( In R$ million , except EPS ) 2 Q 26 2 Q 25 2 Q 26/ 2 Q 25 1 Q 2 6 2 Q 26/ 1 Q 2 6 Total revenue 3 , 081 . 4 2 , 745 . 8 12 . 2% 3 , 201 . 7 - 3 . 8% Net revenue 2 , 765 . 7 2 , 542 . 3 8 . 8% 2 , 873 . 4 - 3 . 7% Expenses (975 . 6) (844 . 3) 15 . 5% (918 . 7) 6 . 2% Adjusted expenses 1 (611 . 2) (575 . 6) 6 . 2% (581 . 2) 5 . 2% Financial result 139 . 3 135 . 7 2 . 6% 112 . 0 24 . 4% Recurring EBITDA 1 , 93 8 . 6 1 , 7 15 . 5 1 3 . 0 % 2 , 05 3 . 2 - 5 . 6 % Recurring EBITDA margin 70 . 2% 69 . 7 % 4 7 bps 71 . 6% - 139 bps Net income 1 , 698 . 8 1 , 325 . 6 28 . 2% 1 , 477 . 0 15 . 0% Basic earnings per share 0 . 34 0 . 25 33 . 3% 0 . 29 15 . 2% Recurring net income 1 , 37 6 . 6 1 , 27 4 . 9 8 . 0 % 1 , 499 . 6 - 8 . 2 % Recurring earnings per share 0 . 28 0 . 25 12 . 3 % 0 . 30 - 8 . 1 % WEBCAST WEBCAST CONFERENCE CALL ( ENGLISH ) August, 12 10:00h (BRT) / 09:00h (NYC) Bra z il: +55 (11) 4680 - 6788 +55 (11) 4700 - 9668 Toll Free: +1 888 788 0099 Dial - In: +1 360 209 5623 Webinar ID: 851 0964 8669 Password : 957253 CONFERENCE CALL ( PORTUGUESE ) August, 12 11:00h (BRT) / 10:00h (NYC) Bra z il: +55 (11) 4680 - 6788 +55 (11) 4700 - 9668 Toll Free: +1 888 788 0099 Dial - In: +1 360 209 5623 Webinar ID: 829 5102 2245 Password : 590937
Page 3
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 3 MESSAGE FROM MANAGEMENT B3's revenue reached R$3.1 billion in 2Q26, up 12.2% compared to 2Q25 , reflecting growth across all of the Company's business segments . Even in a context of revised expectations regarding the interest rate path, procyclical revenues maintained solid performance, increasing 7.9% year over year , while recurring revenues grew 17.3% , demonstrating the resilience of B3's business model and the combination of different revenue streams . In Derivatives, average daily volume (ADV) totaled 11.1 million contracts , down by 8.3% compared to 2Q25, mainly due to lower trading volume in Cryptoassets , largely explained by changes in the margin requirements for trading these products, in addition to a lower activity environment observed in this market. In OTC Derivatives, the outstanding balance totaled R$8.9 trillion , up by 10.9% compared to 2Q25. The Company remains focused on strengthening and expanding its portfolio , as well as broadening access to existing products . During the quarter, the Company launched two Financial Event Contracts linked to IPCA and GDP , enabling the trading of inflation and economic growth expectations in a simple and transparent manner. In Equities, average daily traded volume (ADTV) in cash equities totaled R$31.3 billion, up by 20.1% compared to 2Q25 , with highlights including 41.8% growth in ADTV of BDRs and 73.6% growth in Listed Funds . The performance of these instruments contributed to the resilience of ADTV , offering investors exposure to different geographies and asset classes . Regarding the product agenda, the list of assets eligible for RLP (Retail Liquidity Provider) was expanded, with the gradual inclusion of cash equities, BDRs, ETFs and listed funds , contributing to increased liquidity in these instruments and to the strengthening of the market. In Fixed Income and Credit, issuances and the outstanding balance increased by 3.3% and 16.5% compared to 2Q25 , respectively, maintaining the positive trend observed in recent years. In corporate debt, the outstanding balance grew 14.4% , while in Treasury Direct, the outstanding balance increased 43.7%, with more than 3.5 million investors at the end of the quarter . In addition, the market maker program for debentures was launched on Trademate, aiming to foster liquidity and price formation in the secondar y market . Also in this segment, B3 received regulatory authorization to operate as a trade receivables registrar and began the supervised production phase in July , allowing for a gradual adaptation of market participants to the new model and strengthening the security of the credit market . In the remaining segments, Capital Markets Solutions reported revenue of R$201.0 million, up by 25.8% compared to 2Q25. As part of its innovation agenda, three indices in the B3 Treasury IPCA family were launched , with average maturity benchmarks of 2 , 5 and 10 years, expanding the alternatives available for tracking the Brazilian real interest rate curve . Additionally, the Company continued to advance on its digital assets’ agenda , highlighted by the beginning of the testing period for the infrastructure of its stablecoin, B3RL , seeking to enable asset tokenization and expand innovation and efficiency opportunities in the capital markets. In Data Analytics Solutions (Trillia), revenue totaled R$315.2 million, up by 22.0% , also impacted by the new SNG billing model 2 . Lastly, Technology and Platforms reported revenue of R$526.8 million , an increase of 15.7% year over year. Together, these segments maintained a consistent growth trajectory over the last few years, contributing to a more balanced revenue mix and lower dependence on market conditions. Expenses totaled R$975.6 million, up by 15.5% compared to 2Q25 , reflecting (i) non - recurring effects associated with changes in the Executive Board, and (ii) revenue - linked expenses, which were impacted by the change in the SNG billing model. Adjusted expenses increased 6.2%, or IPCA + 1.5%, reinforcing the Company's commitment to keeping expense growth close to inflation , without compromising investments in its strategic priorities . During the quarter, B3 exercised the put option for its entire 37.5% stake in Dimensa for R$665 million , resulting in the recognition of a non - recurring positive effect of R$123.9 million in 2Q26. The Company announced the payment of R$1,106.0 million in i nterest on capital (IoC) , comprising R$356 million in ordinary IoC and R$750 million in extraordinary IoC, related to unused balances from previous years . Combined with share buybacks totaling R$196.9 million , distributions to shareholders totaled R$1,302.9 million in 2Q26 , reinforcing the Company's commitment to efficient capital allocation and shareholder remuneration . Net income totaled R$1,701.2 million, up 28.2% compared to 2Q25 , while earnings per share totaled R$0.34, up 33.3% . In June, the Company announced the appointment of Christian Egan as its new CEO . In this new cycle, the Company will continue to be guided by three fundamental pillars: customers at the center of every decision, technology as a driver of transformation, and people as the key differentiator in fostering collaboration, innovation and sustainable results , strengthening its ability to create value for clients, shareholders and other stakeholders . 2 As of 1Q26, the Sistema Nacional de Gravames (SNG) billing model was implemented in some states, unifying collections through B3, with an impact on Data Analytics Solutions (Trillia) revenues and a corresponding amount recognized in revenue - linked expenses .
Page 4
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 4 OPERATIONAL PERFORMANCE AND REVENUES The comparisons in this document relate to the second quarter of 2025 ( 2 Q25), unless otherwise stated. Gross Revenue per Segment ( In R$ mil lion ) 2 Q 26 2 Q 25 2 Q 26/ 2 Q 25 1 Q 2 6 2 Q 26/ 1 Q 2 6 Markets 2 , 034 . 5 1 , 866 . 6 9 . 0% 2 , 153 . 3 - 5 . 5% Derivativ e s 881 . 5 893 . 0 - 1 . 3% 965 . 5 - 8 . 7% Equities 692 . 3 565 . 1 22 . 5% 749 . 2 - 7 . 6% Fixed Income and Credit 385 . 5 328 . 9 17 . 2% 362 . 1 6 . 4% Securities Lending 75 . 2 79 . 6 - 5 . 6% 76 . 5 - 1 . 7% Capital Markets Solutions 201 . 0 159 . 8 25 . 8% 201 . 7 - 0 . 4% Da ta for Capital Markets 99 . 0 77 . 1 28 . 4% 96 . 5 2 . 6% Deposit ory for Cash Equities 59 . 0 48 . 5 21 . 6% 70 . 1 - 15 . 8% List ing and Solutions for I ssuers 43 . 0 34 . 2 25 . 8% 35 . 1 22 . 4% Data Analytics Solutions (Trillia) 315 . 2 258 . 3 22 . 0% 317 . 5 - 0 . 7% Ve hicles and Real Estate 175 . 9 132 . 9 32 . 3% 177 . 6 - 1 . 0% Platforms and Analytics 139 . 3 125 . 4 11 . 1% 139 . 9 - 0 . 4% Tec hnology and Platforms 52 6 . 8 455 . 5 15 . 7% 52 5 . 1 0 . 3 % Tec hnology 346 . 6 314 . 4 10 . 3% 342 . 2 1 . 3% Market Support Services 162 . 7 123 . 8 31 . 4% 158 . 9 2 . 4% O ther 17 . 5 17 . 3 1 . 4 % 2 4 . 0 - 27 . 2 % O ther revenues 4 . 0 5 . 6 - 29 . 3% 4 . 2 - 5 . 1 % Total Gross Revenue 3 , 081 . 4 2 , 745 . 8 12 . 2% 3 , 201 . 7 - 3 . 8% Segment’s Performance M arkets Derivativ e s 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 Interest rates in BRL ADV ( thousands of contracts ) 5 , 909 5 , 537 6 . 7% 7 , 323 - 19 . 3% Average RPC (R$) 0 . 786 0 . 745 5 . 5% 0 . 727 8 . 0% Stock indices futures ADV (thousands of contracts) 3 , 592 2 , 983 20 . 4% 3 , 912 - 8 . 2% Average RPC (R$) 0 . 920 0 . 977 - 5 . 8% 0 . 880 4 . 5% FX rates ADV (thousands of contracts) 837 934 - 10 . 5% 951 - 12 . 0% Average RPC (R$) 5 . 064 5 . 612 - 9 . 8% 4 . 953 2 . 2% Interest rates in USD and other currencies ADV (thousands of contracts) 370 316 16 . 9% 391 - 5 . 4% Average RPC (R$) 1 . 982 2 . 451 - 19 . 1% 2 . 119 - 6 . 5% C ryptoassets futures ADV (thousands of contracts) 357 2.307 - 84 . 5% 558 - 36 . 0% Average RPC (R$) 0 . 344 0 . 267 28 . 5% 0 . 281 22 . 3% Commodities ADV (thousands of contracts) 33 30 10 . 1% 37 - 12 . 4% Average RPC (R$) 1 . 720 1 . 794 - 4 . 1% 1 . 762 - 2 . 4% Total Total ADV (thousands of contracts) 11 , 098 12 , 107 - 8 . 3% 13 , 173 - 15 . 8% Average RPC (R$) 1 . 180 1 . 134 4 . 1% 1 . 103 7 . 0% OTC Derivatives Issuances (total in R$ billion) 4 , 575 4 , 261 7 . 4% 4 , 970 - 7 . 9% Pr ice (bps) 0 . 029 0 . 029 - 0 . 026 0 . 003 bps Outstanding balance (average in R$ billion) 8 , 856 7 , 983 10 . 9% 8 , 570 3 . 3% Pr ice (bps) 0 . 020 0 . 021 - 0 . 001 bps 0 . 020 - Not e : “ADV” means “Average Daily Volume”; “RPC” means “Revenue per Contract”; and “bps” means “basis points”. The ADV totaled 11.1 million contracts, down by 8.3% compared to 2Q25, mainly due to lower trading volume in Cryptoassets, partially offset by the increases of 6.7% and 20.4% in the ADV of Interest Rates in BRL and Stock Indices , respectively. Compared to 1Q26, the 15.8% decrease in ADV mainly reflects lower trading volume in Interest Rates in BRL , whose ADV reached an all - time high in Mar/26 due to higher volatility during the period following the start of the conflict in the Middle East.
Page 5
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 5 The average RPC increased by 4 .1% compared to 2Q25, mainly driven by the higher RPC of Interest Rates in BRL, reflecting the lower share of I DI Options in the trading mix. Regarding Bitcoin Futures, it is worth noting that, in Jun/25, changes to the required margin were announced, impacting tradi ng volumes which, combined with the lower level of activity in the cryptoasset market, explain the decrease in the product's ADV. On the other hand, changes were made to (i) pricing and (ii) contract size, both aimed at fostering liquidity. In OTC d erivatives and structured transactions, issuances increased by 7.4%, mainly driven by the 12.3% increase in forward issuances and the 5.1% increase in swap issuances. Regarding the average outstanding balance, volume increased by 10.9%. It is worth noting that this segment’s revenues are impacted by the cash flow hedge accounting set up in the bond issuance in Sep/21, where the bond is the hedging instrument and the highly probable future revenues in USD (mainly related to the listed FX d erivative contracts in USD and Interest Rate contracts in USD) are the hedging objects. As a result, the effects of exchange rate fluctuations on that bond are stated in Shareholders’ Equity and recognized in the income statement to the extent that revenues are realized. In 2 Q26, the net impact of this structure on derivatives revenues was positive at R$10.4 million , given the exchange rate variation in the period . Equities 2 Q 26 2 Q 25 2 Q 26/ 2 Q 25 1 Q 2 6 2 Q 26/ 1 Q 2 6 ADTV (R$ mil lion ) Equities 26 , 877 22 , 171 21 . 2% 29 , 410 - 8 . 6% ETF s 2 , 492 2 , 607 - 4 . 4% 3 , 349 - 25 . 6% BDR s 1 , 329 938 41 . 8% 1 , 436 - 7 . 4% Listed Funds 611 352 73 . 6% 613 - 0 . 4% Cash Equities - Total 31 , 310 26 , 067 20 . 1% 34 , 808 - 10 . 1% Margin (bps) 3 . 074 3 . 159 - 0 . 085 bps 2 . 944 0 . 131 bps Average market capitalization (R$ billion) 5 , 148 4 , 467 15 . 3% 5 , 212 - 1 . 2% Turnover velocity Annualized (%) 150 . 2% 145 . 9% 432 bps 165 . 0% - 1 , 476 bps Options market (stocks/indices) ADTV (R$ mil lion ) 1 , 201 780 54 . 0% 1 , 582 - 24 . 1% Marg in (bps) 13 . 230 11 . 491 1 . 739 bps 11 . 968 1 . 262 bps Forwards & Stock futures ADTV (R$ mil lion ) 251 233 8 . 0% 259 - 2 . 9% Marg in (bps) 5 . 361 5 . 756 - 0 . 395 bps 5 . 508 - 0 . 147 bps Trading days 61 61 - 61 - Note: “ADTV” means average daily traded financial volume; and bps (basis points) means “basis points”. In the cash equities market, the a verage d aily t raded v olume (ADTV) increased 20.1%, driven by increases of 21.2%, 41.8% and 73.6% in the trading volume of cash equities, BDRs and Listed Funds, respectively. During the quarter, the trading volume of ETFs, BDRs and Listed Funds represented 14.2% of total ADTV ( vs. 14.9% in 2Q25). It is worth highlighting the expansion of the universe of assets eligible for the Retail Liquidity Provider (RLP), through a phased implementation involving Ibovespa stocks not previously included, BDRs, ETFs, REITs and Agribusiness Investment Funds, expan ding the program's coverage and execution alternatives for investors. The trading and post trading margin in the cash equities market was 3.074 bps, down by 0.085 bps, explained both by the 20.1% increase in ADTV and by a higher exercise volume of indices options, for which part of the volume is not subject to fees . Compared to 1Q26, the increase of 0.131 bps is explained by (i) the 10.1% decrease in ADTV, in line with the new e quities pricing model, and (ii) the lower share of trading volumes executed through market maker and liquidity provider programs, which have differentiated pricing . Fixed Income and Credit 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 Issuances Bank funding (total in R$ billion) 6 , 146 5 , 844 5 . 2% 6 , 017 2 . 1% Other (total in R$ billion) 400 491 - 18 . 6% 360 11 . 1% Outstanding Balance Bank funding (average in R$ billion) 5 , 431 4 , 588 18 . 4% 5 , 190 4 . 7% Corporate debt (average in R$ billion) 1 , 466 1 , 282 14 . 4% 1 , 454 0 . 9% Other (average in R$ billion) 2 , 790 2 , 444 14 . 1% 2 , 685 3 . 9% Tre a sury Direct Number of investors (average in thousand) 3 , 458 3 , 014 14 . 7% 3 , 377 2 . 4% Outstanding Balance (average in R$ billion) 236 164 43 . 7% 216 9 . 2% Note: “Bank funding” includes DI, CDB, Financial Bills and other instruments, such as RDB, LC, DPGE. “Other” includes instrum ents from the real estate market (LCI, CCI, CRI and LH), agribusiness (CRA, LCA, CDCA, CLCA and CTRA) and funding instruments (CCB, CCCB, NCE, CCE, Export Notes, NC).
Page 6
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 6 The volume of new issuances of bank funding instruments increased by 5.2%, mainly driven by the 30.4% increase in RDB issuances. In other fixed income instruments, the 18.6% decrease mainly reflects the 43.0% decline in Agribusiness Letters of Credit issuances. Regarding the average outstanding balance of bank funding instruments, growth was 18.4%, while the outstanding balance of debentures increased by 14.4%, once again demonstrating robust activity in the local corporate debt market. It is also worth highlighting the 14.1% growth in the outstanding balance of “Other” products, particularly the increases of 115.1%, 24.9% and 16.4% in the outstanding bala nces of Bank Credit Bills , Rural Product Notes and Real Estate Letters of Credit , respectively. Another highlight in the fixed income market was the continued growth of Treasury Direct, which recorded increases of 1 4 .7% in the number of investors and 4 3 . 7 % in the average outstanding balance. B3 offers an incentive program for brokerage firms to expand the investor base in this product, which is reviewed annually. Securities Lending 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 Securities lending Average open position (R$ billion) 219 155 40 . 6% 224 - 2 . 5% Average lender rate (% per year) 1 . 004% 1 . 396% - 39 bps 0 . 971% 3 bps Securities lending revenue totaled R$75.2 million, down 5.6%, mainly explained by the decline in the average lender rate of the transactions. Capital Markets Solutions Da ta fo r Capital Markets Revenue totaled R$ 9 9 . 0 million, an increase of 2 8. 4 %, explained by (i) the implementation of the new market data 3 pricing policy, which aimed to simplify pricing , aligning charges with different usage profiles, and (ii) increased sales of analytical products for the capital markets, with an expansion of recurring revenues. It is worth highlighting the main products within this vertical: (i) DataWise +, a product that offers detailed and customizable analyses of all listed products, including investor behavior and market share by instrument, (ii) Investor Segmentation, which consolidates indicators that enable the analysis, segmentation, and monitoring of market institutions’ client bases, and (iii) the launch of Smart Target, a product designed for companies’ investor relations teams, allowing them to monitor their shareholder bases. Deposit ory for Cash Equities 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 Number of individual investors Average (thousand) 5 , 667 5 , 335 6 . 2% 5 , 576 1 . 6% Number of accounts in depository (total) 6 , 498 6 , 128 6 . 0% 6 , 396 1 . 6% The average number of investors increased 6.2%, reflecting the Company's continued offering of new products and individual investors' search for greater portfolio diversification. Revenue totaled R$59 . 0 million, an increase of 21 .6%, explained by (i) a 13 . 6 % higher average balance in the depository during the period; (i i ) the new equities pricing structure , which began in 3Q25 and equalized t he custody fee for local and foreign investors, and (iii) the inflation adjustment of the Central Depository 4 fees, which came into effect at the beginning of 2026. List ing and Solutions for Issuers Revenue totaled R$43 . 0 million, an increase of 2 5 . 8 %, mainly explained by (i) the higher volume of public offerings ( IPOs and follow - ons) in the period and (ii) the inflation adjustment of Listing fees 5 . Data Analytics Solutions (Trillia) Ve hicles a nd Real Estate 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 SNG # of vehicles sold (thousand) 6 , 161 5 , 532 11 . 4% 5 , 633 9 . 4% # of vehicles financed (thousand) 1 , 884 1 , 730 9 . 0% 1 , 893 - 0 . 5% % vehicles financed / vehicles sold 30 . 6% 31 . 3% - 0 . 7 p.p. 33 . 6% - 3 . 0 p.p. 3 For more information, access the Circular Letter as of 09/16/2025 4 For more information, access the Circular Letter as of 12/23/2025 5 For more information, access the Circular Letter as of 12/18/2025
Page 7
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 7 In 2 Q26, the number of vehicles sold in Brazil increased by 1 1 . 4 %, while the number of vehicles financ ed grew by 9 . 0 %. The percentage of vehicles financed reached 3 0 .6% of vehicles sold, a decrease of 0 . 7 p.p. compared to 2 Q25. Revenues totaled R$ 17 5 . 9 million, an increase of 3 2 . 3 %, explained by (i) the implementation of the new SNG billing model, which unified collections through B3 and added R$ 2 7 . 5 million in 2 Q26, with the full pass - through of this amount recorded under revenue - linked expenses, and (ii) a 9 . 0 % increase in the number of financed vehicles. Platform s and Analytics Revenue amounted to R$139. 3 million, an increase of 11 .1%, mainly explained by the continued positive performance of the Credit and Loss Prevention verticals. In the Credit vertical, highlights include (i) Fraud Velocity, which identifies fraud at the time the vehicle financing is originated, and (ii) AutoData, a vehicle intelligence solution that consolidates registration informatio n, histor ical data , restrictions, financing, claims and market value data for vehicle analysis. In the Loss Prevention vertical, highlights include (i ) Pathfinder, which enables the identification of corporate links and relationships among individuals and organizations, (ii) Lawsuits, designed for the search and analysis of legal proceedings involving clients, suppliers and othe r counterparties, and (ii i) Seeker, a compliance and fraud prevention decision engine that automates due diligence and onboarding processes for clients, suppliers and partners. Tec hnology and Platforms Tec hnology 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 OTC Utilization Average number of clients 24 , 328 22 , 372 8 . 7% 23 , 673 2 . 8% The average number of customers using the monthly utilization service for the OTC systems increased by 8 . 7 %, mainly as a result of the growth of the funds industry in Brazil. Technology revenues totaled R$34 6 . 6 million, an increase of 1 0 .3%, reflecting both the increase in the number of customers in the OTC segment and the annual inflation adjustments applied to prices in the OTC Utilization line. Market Support Services Revenue amounted to R$1 62 . 7 million, an increase of 31 . 4 %, mainly explained by (i) a 21 . 7 % increase in the average outstanding balance of fund quotas and (ii) adjustments in the pricing of fund quota registration and custody . O ther R evenue of R$17 . 5 million , an increase of 1 . 4 % . EXPENSES Expenses totaled R$9 75 . 6 million, an increase of 1 5 . 5 % compared to 2 Q25 , while a djusted expenses increased by 6. 2 %. • Pe rsonnel and charges : R$4 59 . 8 million , an increase of 22 . 0% , mainly explained by (i) extraordinary expenses related to the changes in the Executive Board during the quarter, including termination expenses and the acceleration of long term incentive plans associated with non - compete agreements, (ii) the Company's ongoing efforts aimed at optimizing its organizational structure, (iii) the higher provision for the Company’s profit - sharing plan (PLR), as a result of the performance achieved , and (iv) the annual salary adjustment (bargaining agreement), with collateral impacts on provisions and benefits . • Information technology 6 : R$186 . 1 mil lion , u p by 6.8% and 9.2% compared to 2Q25 and 1Q26, respectively, mainly reflecting (i) the intensification of cloud technology utilization , (ii) investments related to the modernization of B3's Clearing infrastructure, and (iii) expenses related to licensing and support of technology products . • Deprecia tion and amortization : R$95 . 3 mil lion , a decrease of 1,6%. • Revenue - linked expenses : R$143 . 1 million , an increase of 38 . 6%, mainly reflecting (i) the R$2 7 . 5 million impact arising from the implementation of the new SNG billing model , (ii) higher incentives from the Treasury Direct program , and (iii) the incentive program for trading ETFs, BDRs and Listed Funds 7 . 6 Formerly known as “ data processing ”. 7 For more information, access the Circular Letter as of 10 /0 7 /2025
Page 8
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 8 • Third - party services : R$24 . 5 million , up by 24.0% and 43.5% compared to 2Q25 and 1Q26, respectively, mainly explained by (i ) higher expenses with strategic consulting services, including projects aimed at strengthening operational resilience and risk management, as well as initiatives related to product and solution development, (ii) legal fees related to court ordered payment s recognized during the quarter, and (iii) adjustments to infrastructure and facilities support contracts. • Other : R$37 . 3 million , a decrease of 17 . 2%, mainly explained by adjustments to provisions related to legal disputes , for which part of the amount under discussion is updated based on the Company’s share price. The tables below show the breakdown and evolution of adjusted expenses for the quarter. Reconcilia tion of adjusted expenses ( In R$ million ) 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 A djustments in expenses : (+) Depreciation and amortization 95 . 3 96 . 8 - 1 . 6% 95 . 7 - 0 . 4% (+) Long - term stock - based incentive program 52 . 1 34 . 5 51 . 0% 55 . 8 - 6 . 6% (+) Extraordinary expenses related to c hanges in the Executive Board 4 0 . 5 - - - - (+) Provisions (recurring and non - recurring) 18 . 4 32 . 6 - 43 . 7% 43 . 7 - 57 . 9% (+) Revenue - linked expenses 143 . 1 103 . 2 38 . 6% 135 . 6 5 . 5% (+) Other non - recurring expenses 15.1 1.5 915.2 % 6 . 8 12 2.6 % Adjusted expenses (611 . 2) (575.6) 6 . 2% (581 . 2) 5 . 2% Personnel and charges (3 67.2 ) (342 . 4) 7.3 % (357 . 6) 2.7 % Information technology (186 . 1) (174 . 2) 6 . 8% (170 . 4) 9 . 2% Third - party services (24 . 5) (18 . 2) 34 .2 % (17 . 1) 43 . 5% Other expenses (18 . 9) (12 . 4) 52 . 8% (15 . 1) 25 . 5% Other ( 14.6 ) (28 . 5) - 48.9 % (21 . 0) - 30.5 % EBITDA Recurring EBITDA totaled R$1,93 8 . 6 million in 2Q26, up by 1 3 . 0 % compared to 2Q25, with a recurring EBITDA margin of 70.2%, 4 7 bps higher than in 2Q25 . ( In R$ million ) 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 EBITDA 1 , 885 . 4 1 , 794 . 8 5 . 0% 2 , 050 . 4 - 8 . 0% (+) Extraordinary expenses related to c hanges in the Executive Board 4 0 . 5 - - - - (+) Other non - recurring expenses 15 . 1 1 . 5 915 . 2 % 6 . 8 122 . 6% (+) Reversal of provisions and other non - recurring revenues ( 2 . 4 ) ( 80 . 8 ) - 9 7 . 1 % (4 . 0) - 39 . 8% Recurring EBITDA 1 , 93 8 . 6 1 , 7 15 . 5 1 3 . 0 % 2 , 05 3 . 2 - 5 . 6 % Recurring EBITDA margin 70 . 2% 69 . 7 % 4 7 bps 71 . 6% - 139 bps FINANCIAL RESULT The financial result was positive at R$ 139 . 3 million in 2 Q2 6 . Financial revenues totaled R$5 71 . 5 million, an increase of 3 . 4 % . Compared to 1Q26, the 5.5% increase is mainly explained by the recognition of approximately R$ 19.1 million related to the monetary adjustment of a court ordered payment associated with the reimbursement of taxes unduly paid in previous periods. F inancial expenses totaled R$ 442.0 million, in line with 2Q25. Compared to 1Q26, the 4.4% decrease is mainly explained by a lower average CDI during the period. ( In R$ million ) 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 Financial result 139 . 3 135 . 7 2 . 6% 112 . 0 24 . 4% Financial revenues 571 . 5 552 . 8 3 . 4% 541 . 5 5 . 5% Financial expenses (442 . 0) (438 . 9) 0 . 7% (462 . 6) - 4 . 4% Net FX variations 9 . 9 21 . 8 - 54 . 8% 33 . 1 - 70 . 2% In addition, it is important to note that the financial result was also impacted by the effects of the FX variation on foreig n currency loans and on investments abroad held by the Company, and this impact was offset by the variation in the income tax and s ocial contribution line (hedge structure). The table below isolates these effects, both from the financial result and from income t ax and social contribution.
Page 9
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 9 ( In R$ million ) 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 Financial result 139 . 3 135 . 7 2 . 6% 112 . 0 24 . 4% (+/ - ) Effects of hedge on the financial result (8 . 6) (32 . 8) - 73 . 8% (41 . 7) - 79 . 5% Adjusted financial result (excluding hedge effects) 130 . 7 103 . 0 27 . 0% 70 . 3 86 . 0% Income before income tax 2 , 054 . 1 1 , 834 . 3 12 . 0% 2 , 064 . 0 - 0 . 5% (+/ - ) Effects of hedge on the financial result (8 . 6) (32 . 8) - 73 . 8% (41 . 7) - 79 . 5% Income before taxes on adjusted income (excluding hedge effects) - (A) 2 , 045 . 6 1 , 801 . 6 13 . 5% 2 , 022 . 3 1 . 2% Income tax and social contribution (352 . 9) (507 . 4) - 30 . 4% (586 . 9) - 39 . 9% (+/ - ) Effects of hedge on income tax and social contribution taxes 8 . 6 32 . 8 - 73 . 8% 41 . 7 - 79 . 5% Adjusted income tax and social contribution taxes (excluding hedge effects) - (B) (344 . 4) (474 . 6) - 27 . 4% (545 . 2) - 36 . 8% Effective Rate on Income Before Adjusted Income Tax and Social Contribution (excluding hedge effects) - (B) / (A) 16 . 8% 26 . 3% - 951 bps 27 . 0% - 1 , 012 bps I NCOME TAX AND SOCIAL CON TRIBUTION The i ncome tax and social contribution line totaled R$352.9 million in 2Q26, mainly impacted by the distribution of R$1,106.0 million in i nterest on capital (IoC), of which R$750.0 million was extraordinary, resulting from unused balances from previous years, more than offsetting the increase in the social contribution tax rate following Complementary Law 224/2025, which became effective as of 2Q26. Current tax reached R$317 . 2 million, while deferred income tax and social contribution was negative at R$35 . 7 million. In addition, the income tax and social contribution line was also impacted by the hedge structure, as explained above. NET INCOME Excluding the non - recurring items highlighted below, net income would have reached R$1,376.6 million in the quarter, up by 8.0% compared to 2Q25. It is worth highlighting that, with the mergers of Neoway , Neurotech and Datastock , the Company began to recognize the tax benefit from the amortization of goodwill from these acquisitions, which totaled R$ 50 . 2 million in the quarter. A djustments to net income ( In R$ million ) 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 Net income (attributed to shareholders) 1 , 698 . 8 1 , 325 . 6 28 . 2% 1 , 477 . 0 15 . 0% (+) Reversal of provisions and other non - recurring revenues (2 1. 4) (10 9.4 ) - 80.4% (4.0) 441.6% (+) Sale of investment in a n associate (123 . 9) - - - - (+) Extraordinary expenses related to c hanges in the Executive Board 40 . 5 - - - - (+) O ther non - recurring expenses 15 . 1 1 . 5 915.2 % 6 . 8 122 . 6% (+) Tax impacts of non - r ecurring items 25 .5 3 6.7 - 30.5 % ( 0.9 ) - (+) Fiscal benefit from the extraordinary interest on capital (277 . 5) - - - - (+) Amortization of intangible assets 19 . 5 20 . 4 - 4 . 6% 20 . 7 - 5 . 9% Recurring net income 1 , 37 6.6 1 , 27 4.9 8.0 % 1 ,499.6 - 8 .2 % (+) Deferred tax (goodwill from Neoway and Neurotech) 50 . 2 40 . 7 2 3 . 5 % 40 . 7 2 3 . 5 % Recurring net income adjusted by goodwill tax benefit 1 , 42 6 . 8 1 , 315 . 5 8 . 4% 1 , 540 . 2 - 7 . 4% Note: amortization of intangible assets net of taxes , calculated based on the tax rate applied to the deductible portion, being 34% through 1Q26 and 37% as of 2Q26, and includes Neoway, Neurotech, PDTec and other subsidiaries Net income attributable to B3’s shareholders was R$ 1,698 . 8 million, a n increase of 28 . 2 %. Earnings per share were R$0. 34 , a n increase of 3 3.3 % in the period , reflecting the execution of the share buyback program by the Company over the last 12 months. The recurring earnings per share totaled R$0.28, a growth of 12.0% compared to 2Q25. (In R$ million, except EPS ) 2Q 26 2Q 25 2Q 26/ 2Q 25 1Q 2 6 2Q 26/ 1Q 2 6 Net income (attributable to shareholders) 1 , 698 . 8 1 , 325 . 6 28 . 2% 1 , 477 . 0 15 . 0% Earnings per share (EPS) 0 . 34 0 . 25 33 . 3% 0 . 29 15 . 2% Recurring Earnings per share 0 . 28 0 . 25 12 .3 % 0 . 30 - 8 .1 %
Page 10
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 10 MAIN ITEMS OF THE CONSOLIDATED BALANCE SHEET AS OF 06 /30 /2026 Assets, Liabilities and Shareholders’ Equ ity Accounts The Company ended 2Q26 with total assets of R$4 9 . 0 billion, 1 . 0 % higher than in Dec/2 5 . Cash and Financial Investments (current and non - current) totaled R$1 9 . 3 billion, in line with the balances reported at the end of 2025. At the end of 2Q26 , B3 had gross indebtedness of R$14.9 billion ( 83 % long term and 17 % short term), corresponding to 2. 0 x the recurring EBITDA of the last 12 months. OTHER FINANCIAL INFORMATION CAPEX Investments totaling R$55.3 million were made in 2Q26, and R$112.0 million in the first half of 2026, covering all of B3’s bu siness segments. These funds were allocated to capacity expansion, security enhancements , as well as the development of new products and functionalities. Highlights include the expansion of the co - location service, the development of the new depository infrastructure, the strengthening of the Fixed Income business through the electronic trading platform , Trademate , and the modernization of OTC and electronic trade receivables platforms. Additionally, it is worth not ing that part of the Company's investments is recognized as operating expenses, given the nature of these initiatives . In this context, expenditures related to the modernization and technological and infrastructure development of B3, including items classified as both CAPEX and OPEX, amounted to R$229 million in 2Q26 and R$451 million in the first half of 2026. Distribu tions to shareholders On June 18 , 202 6 , the Board of Directors approved the payment of interest on capital in the amount of R$ 1,106 . 0 million, comprising R$356.0 million in ordinary IoC and R$750.0 million in extraordinary IoC, resulting from unused balances from previous years . In the quarter, share buybacks under the 2026 Share Buyback Program totaled R$196.9 million which, combined with the IoC, amounted to R$1,302.9 million returned to shareholders in the period. SUST AINABILITY During 2Q26, the main highlights related to B3's sustainability agenda were: • Dow Jones Best in Class Index: B3 joined the global and emerging markets portfolios of the index, positioning the Company among the companies with the strongest sustainability performance assessed by S&P Global and increasing its visibility among international investors . • ISE B3 2026: disclosure of the new Corporate Sustainability Index (ISE B3) portfolio, composed of 69 companies selected based on environmental, social and governance criteria. • Carbon Credit Registration : the volume of carbon credits registered with B3 exceeded 6.4 million, an increase of 16.5% compared to the end of 2025, reinforcing the Company's role in developing the infrastructure for the carbon market in Brazil .
Page 11
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 11 CONSOLIDATED INCOME STATEMENT ( In R$ thousands ) 2 Q 2 6 2 Q 2 5 2 Q 2 6 / 2 Q 2 5 1 Q 2 6 2 Q 2 6 / 1 Q 2 6 Total revenue 3 , 081 , 392 2 , 745 , 796 12 . 2% 3 , 201 , 744 - 3 . 8% Markets 2 , 034 , 450 1 , 866 , 572 9 . 0% 2 , 153 , 287 - 5 . 5% Derivatives 881 , 527 892 , 956 - 1 . 3% 965 , 514 - 8 . 7% Equities 692 , 296 565 , 147 22 . 5% 749 , 194 - 7 . 6% Fixed Income and Credit 385 , 460 328 , 868 17 . 2% 362 , 128 6 . 4% Securities Lending 75 , 167 79 , 601 - 5 . 6% 76 , 451 - 1 . 7% Capital Markets Solutions 200 , 999 159 , 811 25 . 8% 201 , 709 - 0 . 4% Data for Capital Markets 98 , 991 77 , 096 28 . 4% 96 , 500 2 . 6% Depository for Cash Equities 58 , 993 48 , 518 21 . 6% 70 , 069 - 15 . 8% Listing and Solutions for Issuers 43 , 015 34 , 197 25 . 8% 35 , 140 22 . 4% Data Analytics Solutions (Trillia) 315 , 162 258 , 334 22 . 0% 317 , 496 - 0 . 7% Vehicles and Real Estate 175 , 856 132 , 915 32 . 3% 177 , 566 - 1 . 0% Platforms and Analytics 139 , 306 125 , 419 11 . 1% 139 , 930 - 0 . 4% Technology and Platforms 526 , 814 455 , 471 15 . 7% 52 5,074 0 .3 % Technology 346 , 649 314 , 401 10 . 3% 342 , 160 1 . 3% Market Support Services 162 , 659 123 , 802 31 . 4% 158 , 870 2 . 4% Other 17 , 506 17 , 268 1 . 4% 2 4 , 044 - 27 . 2 % Reversal of provision and recovery of expenses 3 , 967 5 , 608 - 29 . 3% 4,178 - 5.1 % Revenue deductions (315 , 645) (203 , 500) 55 . 1% (328 , 325) - 3 . 9% PIS and Cofins (255 , 086) (150 , 825) 69 . 1% (266 , 365) - 4 . 2% Service tax (60 , 559) (52 , 675) 15 . 0% (61 , 960) - 2 . 3% Net revenue 2 , 765 , 747 2 , 542 , 296 8 . 8% 2 , 873 , 419 - 3 . 7% Expenses (975 , 625) (844 , 348) 15 . 5% (918 , 677) 6 . 2% Personnel and charges (459 , 758) (376 , 837) 22 . 0% (413 , 417) 11 . 2% Information technology 8 (186 , 100) (174 , 211) 6 . 8% (170 , 444) 9 . 2% Depreciation and amortization (95 , 276) (96 , 844) - 1 . 6% (95 , 679) - 0 . 4% Revenue - linked expense (143 , 090) (103 , 225) 38 . 6% (135 , 613) 5 . 5% Third - party services (24 , 477) (19 , 733) 24 . 0% (17 , 052) 43 . 5% General maintenance (8 , 199) (8 , 272) - 0 . 9% (8 , 067) 1 . 6% Promotion and disclosures (12 , 535) (11 , 948) 4 . 9% (10 , 186) 23 . 1% Taxes and fees (4 , 026) (3 , 592) 12 . 1% (4 , 703) - 14 . 4% Board and committee members’ compensation (4 , 905) (4 , 713) 4 . 1% (4 , 789) 2 . 4% Other (37 , 259) (44 , 973) - 17 . 2% (58 , 727) - 36 . 6% Operating income 1 , 790 , 122 1 , 697 , 948 5 . 4% 1 , 954 , 742 - 8 . 4% Operating margin 64,7% 66,8% - 206 bps 68,0% - 330 bps Results from equity method investments 854 660 29 . 4% (2 , 739) - Gain on disposal of i nvestment in associates 123 , 875 - - - - Financial results 139,298 135,726 2.6% 112,013 24.4% Financial income 571 , 478 552 , 817 3 . 4% 541 , 475 5 . 5% Financial expenses (442 , 040) (438 , 929) 0 . 7% (462 , 593) - 4 . 4% Net FX variation 9 , 860 21 , 838 - 54 . 8% 33 , 131 - 70 . 2% Income before taxes 2 , 054 , 149 1 , 834 , 334 12 . 0% 2 , 064 , 016 - 0 . 5% Income tax and social contribution (352 , 932) (507 , 353) - 30 . 4% (586 , 882) - 39 . 9% Current (317 , 225) (497 , 158) - 36 . 2% (533 , 941) - 40 . 6% Deferred (35 , 707) (10 , 195) 250 . 2% (52 , 941) - 32 . 6% Net income (loss) for the period 1 , 701 , 217 1 , 326 , 981 28 . 2% 1 , 477 , 134 15 . 2% Net margin 61,5% 52,2% 931 bps 51,4% 1 , 010 bps At tributed to : B3 Shareholders 1 , 698 , 848 1 , 325 , 647 28 . 2% 1 , 476 , 968 15 . 0% Net margin 61,4% 52,1% 928 bps 51,4% 1 , 002 bps Non - controlling shareholders 2 , 369 1 , 334 77 . 6% 166 1 , 327 .0 % 8 Formerly known as “data processing”.
Page 12
EARNINGS RELEASE 2 Q 2 6 ri.b3.com.br 12 SUMMARY OF CONSOLIDATED BALANCE S HEET (R$ thousands ) A ssets 0 6 /30 /202 6 12 /31 /202 5 Liabilities and Shareholders’ Equity 0 6/30 /2026 12 /31 /202 5 Current 19 , 047 , 627 17 , 712 , 103 Current 9 , 942 , 058 9 , 291 , 962 Cash and cash equivalentes 1 , 163 , 233 1 , 603 , 617 Collateral for transactions 2 , 654 , 736 3 , 711 , 718 Financial investments 15 , 308 , 164 13 , 925 , 625 Derivative financial instruments 8 , 020 6 , 562 Other 2 , 576 , 230 2 , 182 , 861 Loans and debentures 2 , 623 , 296 870 , 588 Long - term non - current assets 3 , 812 13 , 907 O ther 4 , 656 , 006 4 , 703 , 094 Non - current 29 , 899 , 681 30 , 761 , 637 Non - current 20 , 279 , 660 21 , 731 , 606 Long - term receivables 3 , 411 , 346 3 , 647 , 949 Loans and debentures 12 , 310 , 020 14 , 073 , 716 Financial investments 2 , 819 , 895 3 , 012 , 984 Deferred income tax and s ocial contribution 6 , 840 , 697 6 , 654 , 751 Other 591 , 451 634 , 965 Other 1 , 128 , 943 1 , 003 , 139 Invest ments 125 , 925 662 , 554 Shareholders’ Equity 18 , 729 , 402 17 , 464 , 079 Property and Equipment 827 , 878 880 , 467 Capital 12 , 898 , 655 12 , 898 , 655 Intang ible assets 25 , 534 , 532 25 , 570 , 667 C apital reserve 688 , 519 723 , 945 Goodwill 24 , 358 , 874 24 , 358 , 874 O ther 5 , 117 , 789 3 , 819 , 534 Software and projects 1 , 175 , 658 1 , 211 , 793 Non - controlling interests 24 , 439 21 , 945 Total Assets 48 , 951 , 120 48 , 487 , 647 Total Liabilities and Shareholders’ E quity 48 , 951 , 120 48 , 487 , 647