Company: BPOPM
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0001193125-25-147021
Chunk: 3

Company: POPULAR, INC.
Filing Date: 2025-06-25
Form: 11-K
Chunk 3
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 10,687,562 |
| Administrative expenses                                                         |     |   |     397,219 |
| Total deductions                                                                |     | $ |  11,084,781 |
| Net increase in assets available for benefits                                   |     | $ |  20,842,415 |
| Net assets available for benefits:                                              |     |   |             |
| Beginning of year                                                               |     | $ | 149,460,365 |
| End of year                                                                     |     | $ | 170,302,780 |

The accompanying notes are an integral part of these financial statements. 4

Popular, Inc. U.S.A. 401(k) Savings and Investment Plan

Notes to Financial Statements

December 31, 2024 and 2023

1. Description of Plan

The following description of the Popular, Inc. U.S.A. 401(k) Savings and Investment Plan (the “Plan”) provides only general information. Participants
should refer to the Plan Document for a more complete description of its provisions.

Plan Description

The Plan is sponsored by Popular, Inc. (the “Corporation”). The Plan is a defined contribution plan covering any United States (excluding Puerto
Rico), United States Virgin Islands and British Virgin Islands employees of the Plan Sponsor who have completed 30 days of service. The Plan provides the participants with the ability to invest in mutual funds, single group annuity contract, pooled
separate accounts and common stock in Popular, Inc. The Plan is subject to the provisions of Employee Retirement Income Security Act of 1974 (“ERISA”).

Contributions

Participants may make pre-tax contributions up to the maximum permitted amount based on IRS limitations (maximum $23,000 in 2024 and $22,500 in 2023), as defined in the Plan documents. Participants direct the investment of Plan
contributions into various investment options offered by the Plan. Also, the Plan permits catch-up contributions that are before tax contributions made in excess of the deferral limit by a participant who has
reached age 50, limited for the calendar year ended on December 31, 2024 to $7,500.

The plan provides that newly hired employees are automatically
enrolled in the Plan at a pre-tax rate of 6% (5% for the year December 31, 2023) with a match formula of 50% for each dollar pre-tax contribution up to a maximum of
8% and for an automatic annual increase of