# EDGAR Filing Document

**Accession Number:** 0002058601
**File Stem:** 0001213900-26-053495
**Filing Date:** 2026-5
**Character Count:** 107621
**Document Hash:** bf16c4fedca242d2118bdf7d40c61ba3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-053495.hdr.sgml**: 20260508

**ACCESSION NUMBER**: 0001213900-26-053495

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260507

**FILED AS OF DATE**: 20260508

**DATE AS OF CHANGE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BRBI BR Partners S.A.
- **CENTRAL INDEX KEY:** 0002058601
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D5
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42757
- **FILM NUMBER:** 26955526

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** AVENIDA BRIGADEIRO FARIA LIMA
- **STREET 2:** 3,732, FLOOR 28, CEP 04538-132
- **CITY:** SAO PAULO
- **PROVINCE COUNTRY:** D5
- **BUSINESS PHONE:** 55 11 3704 1197

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** AVENIDA BRIGADEIRO FARIA LIMA
- **STREET 2:** 3,732, FLOOR 28, CEP 04538-132
- **CITY:** SAO PAULO
- **PROVINCE COUNTRY:** D5

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BR Advisory Partners Holdings S.A.
- **DATE OF NAME CHANGE:** 20250227

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

Washington, D.C. 20549

**FORM 6-K**

Report of Foreign Private Issuer Pursuant to Rule 13a-16 or

15d-16 of the Securities Exchange Act of 1934

**For the month of May 2026**

**Commission File Number: 001-42757**

**BRBI BR Partners S.A.**

(Exact Name as Specified in its Charter)

**N/A**

(Translation of registrant's name into English)

**3,732, Floor 28, CEP 04538-132**

**Avenida Brigadeiro Faria Lima**

**São Paulo, SP, Brazil**

(Address of principal executive offices)

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)

**Form 20-F:** ☒ Form 40-F: ☐

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit<br> Number** | **Description of Document** |
| 99.1 | [Condensed parent company and consolidated interim financial information for the Three-month period ended March 31, 2026](ea028970901ex99-1.htm) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: May 7, 2026

---

| | |
|:---|:---|
| **BRBI BR Partners S.A.** | **BRBI BR Partners S.A.** |
| By: | /s/ Vinicius Carmona Cardoso |
| Name: | Vinicius Carmona Cardoso |
| Title: | Investor Relations Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![](ea028970901_ex99-1img1.jpg)

Content

---

| | |
|:---|:---|
| Comments on performance | 1 |
| Statements of financial position | 4 |
| Statements of profit or loss | 6 |
| Statements of comprehensive income | 7 |
| Statements of changes in shareholders' equity | 8 |
| Statements of cash flows | 9 |
| Statements of value added | 10 |
| Notes to the condensed parent company and consolidated quarterly financial information | 11 |

---

i

**Dear Shareholders,**

We submit, for your consideration, the condensed parent company and consolidated interim financial information of BRBI BR Partners S.A. ("Company") for the first quarter ended March 31, 2026.

**We highlight the following facts in the first quarter of 2026:**

**Economic context** 

The first quarter of 2026 was marked by the continuation of the global disinflation process, albeit at a more gradual pace, in an environment of moderate economic growth and increased geopolitical uncertainties. In Brazil, the start of the interest rate cut cycle was confirmed amid more benign inflation, despite localized pressures from food and fuel. In the United States, activity began to show signs of stabilization, while inflation continued on a decelerating path, leading the Federal Reserve to maintain a cautious and data-dependent stance, without starting the monetary easing cycle. In Europe, activity remained weak, with inflation slowing down but still above the target, keeping the European Central Bank in a cautious stance. China continued to face challenges related to domestic demand and the real estate sector, amid gradual stimulus measures and a more uncertain external environment. In the markets, the period was characterized by increased volatility, reflecting geopolitical tensions, fluctuations in commodity prices (especially oil), and changes in exchange rates, with mixed performance of risk assets.

In Brazil, the first quarter was marked by the beginning of the monetary easing cycle, supported by a more favorable inflationary dynamic. The IPCA - Extended Consumer Price Index continued to slowdown, reinforcing the reading of convergence to the target, although with pressures coming from more volatile components, such as food and fuels, throughout the period. Core inflation remained above the level consistent with the midpoint of the target, but with signs of gradual easing. Economic activity showed moderation, reflecting the lagged effects of the restrictive monetary policy implemented throughout 2025, although recent indicators have pointed to more resilient growth in some segments. The labor market remained relatively strong, with the unemployment rate at low levels, although there were initial signs of a slowdown on the margin. In the fiscal area, the environment remained challenging, with attention focused on achieving targets and the dynamics of expenses. The Central Bank began the Selic rate cut cycle this quarter, emphasizing in its communication the need for caution and data dependence for the continuation of the process, especially given a more uncertain external scenario. In this context, the easing cycle is expected to be more gradual and restrictive than initially anticipated, reflecting the persistence of elevated core inflation, the partial unanchoring of inflation expectations, and uncertainties regarding the fiscal and external outlooks.

In Europe, the first quarter was characterized by still fragile economic growth and the continuation of the disinflation process. The moderation in energy prices contributed to the slowdown of headline inflation, although service inflation remained pressured, requiring caution from monetary authorities. The European Central Bank kept its monetary policy unchanged throughout the period, reinforcing data dependence and the need for greater confidence in inflation convergence before any potential interest rate cuts. Economic activity remained heterogeneous across bloc countries, with gradual recovery in domestic demand in some economies, but persistent weakness in industry, particularly in sectors most exposed to global trade. The European environment also reflected geopolitical uncertainties and fluctuations in energy prices, maintaining a challenging scenario.

In the United States, data released throughout the first quarter indicated a stabilization of economic activity at levels close to potential, while inflation continued on a path of deceleration, albeit gradually. Price indicators recorded progress in the disinflation process, although with some resistance in more inertial components. The job market showed signs of moderation, with a slower pace of job creation, although remaining solid in historical terms. In this context, the Federal Reserve kept the interest rate unchanged throughout the quarter, adopting a cautious and data-dependent stance amid uncertainties related to the inflationary outlook and the global environment. The interest rate curve reflected this scenario, with adjustments throughout the period, while the dollar showed oscillating movements, influenced by both external factors and geopolitical issues.

China started 2026 still facing significant challenges related to domestic demand and the real estate sector, in an environment of moderate growth. The authorities maintained the strategy of gradual and targeted stimuli, aiming to sustain economic activity. Producer price inflation remained at low levels, reflecting excess capacity and still subdued demand in industrial segments, while consumer inflation remained moderate. Economic growth remained relatively stable, although without signs of stronger acceleration, reinforcing the need for the continuation of support policies, especially aimed at domestic consumption and the stabilization of the real estate sector, amid a more uncertain external environment.

**Business performance**

In the first quarter of 2026, despite the more challenging geopolitical and macroeconomic environment, the Financial Advisory area remained active, with well-diversified activities and mandates, including mergers and acquisitions, restructurings, as well as the preparation of fairness opinions for companies from different economic sectors. Four transactions have been announced, totaling a volume of R$6.1 billion.

The Capital Markets area maintained a strong pace of activity, leveraging the continued demand from issuers for debt instruments and the greater appetite from fixed-income investors for the primary market. During this period, R$2.4 billion was issued and 19 debt operations were structured, including CRIs, Debentures, CCBs, FIIs and FIDCs.

The Treasury Sales & Structuring area observed volatility in revenue generation, mainly explained by geopolitical conditions and the typical seasonality of year-end closing. Still, the trading volume of derivatives and foreign exchange in the quarter reached R$4.3 billion.

The Wealth Management area continued its growth and expansion plan throughout the quarter, partially impacted by the depreciation of the dollar due to a large portion of the managed assets being from international managed portfolios. At the end of March 2026, the Wealth Under Advisory reached R$6.1 billion.

**Consolidated financial performance**

Total revenues reached R$134.8 million in 1Q26, compared to R$127.5 million in 1Q25, reflecting a growth of 5.7%. Net income reached R$37.7 million, compared to R$43.1 million in the 1Q25, representing a -12.5% change. The return on shareholders' equity was 19.1%. The Company ended the period with shareholders' equity of R$793.4 million.

**Policy on reinvestment and distribution of dividends** 

The Company does not have a formal policy on reinvestment by its shareholders; all reinvestments verified thus far were deliberated by the shareholders at the AGM/EGM.

The Company's dividend policy provides for the annual distribution of the mandatory minimum dividend of 25%. However, the Company intends to remunerate its shareholders according to the calculation of the profits earned during the year, making its best efforts to distribute dividends at a higher percentage that established by current legislation.

**Social initiatives** 

The Company supports, through tax incentive laws, non-governmental organizations with projects mainly related to health, education, sports, diversity and gender equity.

**Relationship with independent auditors**

Pursuant to the provisions of CVM Resolution 162/22 of the Brazilian Securities and Exchange Commission, the Company has an established policy and process for hiring an independent audit, considering aspects of transparency, compliance, objectivity and independence. Furthermore, aspects of potential conflicts of interest when engaging the same audit company for services of other natures are assessed to mitigate risks of loss of independence or objectivity in the performance of its activities. Information related to audit company fees is made available annually in our Reference Form.

Executive Board

Accountant

Hideo Antonio Kawassaki

CRC 1SP 184007/O-5

**BRBI BR Partners S.A.**

Condensed statements of financial position as of March 31, 2026 and December 31, 2025

*(In thousands of reais)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Parent Company** | **Parent Company** | **Consolidated** | **Consolidated** |
|  | <br>Notes | 03/31/2026 | 12/31/2025 | 03/31/2026 | 12/31/2025 |
| **Assets** |  |  |  |  |  |
| **Cash and cash equivalents** | 4 | **16964** | **29504** | **118420** | **137792** |
| **Financial assets at fair value through profit or loss** | 5a | **97251** | **89557** | **13258314** | **11712650** |
| - Government bonds |  |  |  | 12988707 | 11369995 |
| - Private securities |  |  |  | 172356 | 174349 |
| - Investment fund quotas |  | 97251 | 89557 | 97251 | 168306 |
| **Financial assets at fair value through other comprehensive income** | 5b | **-** | **-** | **2959096** | **3308755** |
| - Private securities |  |  |  | 1180174 | 1385470 |
| - Investment fund quotas |  |  |  | 1778922 | 1923285 |
| **Derivative financial instruments** | 6a | **1584** | **3011** | **1126184** | **1023349** |
| **Financial asset at amortized cost** | 7 | **-** | **-** | **454279** | **1124190** |
| - Loans |  |  |  | 158926 | 184958 |
| - Other financial assets at amortized cost |  |  |  | 295353 | 939232 |
| Dividends receivable |  | 55496 | 55496 |  |  |
| Other assets |  | 1185 | 3072 | 43467 | 26874 |
| Deferred tax assets | 17b | 5607 | 5607 | 154289 | 92425 |
| Equity-accounted investees | 9 | 655298 | 627399 |  |  |
| Property, plant and equipment |  |  |  | 47840 | 44265 |
| Intangible assets |  |  |  | 11481 | 12283 |
| **Total assets** |  | **833385** | **813646** | **18173370** | **17482583** |

---

See the accompanying notes to the condensed parent and consolidated interim financial information.

**BRBI BR Partners S.A.**

Condensed statements of financial position as of March 31, 2026 and December 31, 2025

*(In thousands of reais)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Parent Company** | **Parent Company** | **Consolidated** | **Consolidated** |
|  | <br>Notes | 03/31/2026 | 12/31/2025 | 03/31/2026 | 12/31/2025 |
| **Liabilities** |  |  |  |  |  |
| **Financial liabilities at fair value through profit or loss** | 11a | **-** | **-** | **1268** | **33222** |
| **Financial liabilities at amortized cost** | 11b | **-** | **-** | **16663416** | **16062202** |
| - Repurchase agreements |  |  |  | 11332812 | 9938917 |
| - Client deposits |  |  |  | 1252004 | 1637964 |
| - Funds from securities issued |  |  |  | 3919985 | 3703658 |
| - Other financial liabilities |  |  |  | 158615 | 781663 |
| **Derivative financial instruments** | 6a | **1836** | **1666** | **384927** | **344451** |
| **Amounts payable** |  | **19681** | **9695** | **77075** | **53934** |
| - Suppliers |  | 270 | 251 | 3364 | 11243 |
| - Other amounts payable | 10 | 19411 | 9444 | 73711 | 42691 |
| Taxes payable |  | 161 | 158 | 16141 | 19998 |
| Current tax liabilities |  |  | 3173 | 6484 | 9382 |
| Deferred tax liabilities | 17b | 18272 | 15656 | 230624 | 176096 |
| **Total liabilities** |  | **39950** | **30348** | **17379935** | **16699285** |
| **Shareholders' equity** |  |  |  |  |  |
| Capital | 12a | 674940 | 674940 | 674940 | 674940 |
| Capital reserves |  | (30193) | (30193) | (30193) | (30193) |
| Profit reserves |  | 130126 | 149025 | 130126 | 149025 |
| Other comprehensive (loss) |  | (19152) | (10474) | (19152) | (10474) |
| Retained earnings |  | 37714 |  | 37714 |  |
| **Total shareholders' equity** |  | **793435** | **783298** | **793435** | **783298** |
| **Total liabilities and shareholders' equity** |  | **833385** | **813646** | **18173370** | **17482583** |

---

See the accompanying notes to the condensed parent and consolidated interim financial information.

**BRBI BR Partners S.A.**

Condensed statements of profit or loss for the three-month period ended March 31

*(In thousands of reais)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Parent Company** | **Parent Company** | **Consolidated** | **Consolidated** |
|  | <br>Notes | 03/31/2026 | 03/31/2025 | 03/31/2026 | 03/31/2025 |
| Interest revenues and gains on financial instruments |  | 9809 | 6487 | 2768529 | 1864332 |
| Interest expenses and (losses) on financial instruments |  | (3045) | (1615) | (2721918) | (1818712) |
| **Net interest revenue (expense) and gains (losses) on financial instruments** | 14 | **6764** | **4872** | **46611** | **45620** |
| Revenues from rendering of services |  |  |  | 88196 | 81866 |
| **Total service revenues** |  | **-** | **-** | **88196** | **81866** |
| **Total revenues** | 13 | **6764** | **4872** | **134807** | **127486** |
| Personnel expenses |  | (1391) | (1119) | (40595) | (34089) |
| Administrative expenses | 15 | (1152) | (3856) | (41110) | (27620) |
| Tax expenses | 16 |  |  | (8043) | (10741) |
| Provision due to expected credit losses |  |  |  | (821) | (521) |
| Other revenues |  |  |  | 197 | 139 |
| Other expenses |  | (468) | (313) | (679) | (411) |
| **Operating expenses** |  | **(3011)** | **(5288)** | **(91051)** | **(73243)** |
| **Profit/(loss) before income tax** |  | **3753** | **(416)** | **43756** | **54243** |
| Equity in net income of subsidiaries | 9 | 36577 | 43719 |  |  |
| **Profit before income tax** |  | **40330** | **43303** | **43756** | **54243** |
| Income taxes | 17a | (2616) | (180) | (6042) | (11120) |
| **Profit for the period** |  | **37714** | **43123** | **37714** | **43123** |
| **Profit attributed to the Company's shareholders** | 12c |  |  | **37714** | **43123** |
| Profit attributable to common shares |  |  |  | 24012 | 27456 |
| Earnings per common share |  |  |  | 0.12 | 0.14 |
| Profit attributable to preferred shares |  |  |  | 13702 | 15667 |
| Earnings per preferred share |  |  |  | 0.12 | 0.14 |

---

See the accompanying notes to the condensed parent and consolidated interim financial information.

**BRBI BR Partners S.A.**

Condensed statements of comprehensive income for the three-month period ended March 31

*(In thousands of reais)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Parent Company** | **Parent Company** | **Consolidated** | **Consolidated** |
|  | 03/31/2026 | 12/31/2025 | 03/31/2026 | 12/31/2025 |
| **Profit for the period** | **37714** | **43123** | **37714** | **43123** |
| **Items that may not be subsequently reclassified to income (loss)** | **(8678)** | **(1236)** | **(8678)** | **(1236)** |
| Fair value through other comprehensive income (FVOCI) |  |  |  |  |
| - Adjustment to fair value | (15287) | (1982) | (15287) | (1982) |
| - Tax effect | 6879 | 892 | 6879 | 892 |
| Foreign operations - foreign currency translation differences | (270) | (146) | (270) | (146) |
| **Comprehensive income attributable to:** |  |  |  |  |
| Company's shareholders | 29036 | 41887 | 29036 | 41887 |

---

See the accompanying notes to the condensed parent and consolidated interim financial information.

**BRBI BR Partners S.A.**

Condensed statements of changes in shareholders' equity for the three-month period ended March 31

*(In thousands of reais)*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | | **Profit reserve** | **Profit reserve** | **Other comprehensive income** | **Other comprehensive income** | | |
|  |<br>**Capital** |<br>**Capital reserves** | **Legal** | **Other<br> profit reserves** | **Equity valuation adjustments** | **Accumulated<br> translation adjustment** |<br>**Retained earnings** |<br>**Total<br> shareholders' equity** |
| **December 31, 2024** | **674940** | **(30193)** | **54686** | **114559** | **(9030)** | **(372)** | **-** | **804590** |
| Profit for the period |  |  |  |  |  |  | 43123 | 43123 |
| Other comprehensive (loss) |  |  |  |  | (1090) | (146) |  | (1236) |
| Interim dividends – 2025 |  |  |  | (31499) |  |  |  | (31499) |
| Additional dividends - 2024 |  |  |  | (18899) |  |  |  | (18899) |
| **March 31, 2025** | **674940** | **(30193)** | **54686** | **64161** | **(10120)** | **(518)** | **43123** | **796079** |
| **December 31, 2025** | **674940** | **(30193)** | **63440** | **85585** | **(10554)** | **80** | **-** | **783298** |
| Profit for the period |  |  |  |  |  |  | 37714 | 37714 |
| Other comprehensive (loss) |  |  |  |  | (8408) | (270) |  | (8678) |
| Interim dividends – 2026 |  |  |  | (18899) |  |  |  | (18899) |
| **March 31, 2026** | **674940** | **(30193)** | **63440** | **66686** | **(18962)** | **(190)** | **37714** | **793435** |

---

See the accompanying notes to the condensed parent and consolidated interim financial information.

**BRBI BR Partners S.A.** 

Condensed statements of cash flows for the three-month periods ended March 31

*(In thousands of reais)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Parent Company** | **Parent Company** | **Consolidated** | **Consolidated** |
|  | 03/31/2026 | 03/31/2025 | 03/31/2026 | 03/31/2025 |
| **Cash flows from operating activities** |  |  |  |  |
| **Profit for the period** | **37714** | **43123** | **37714** | **43123** |
| **Adjustments for:** |  |  |  |  |
| Effect of changes in exchange rates on cash and cash equivalents |  |  | (11354) | (15931) |
| Impairment losses |  |  | 821 | 521 |
| Depreciation and amortization |  |  | 2537 | 2485 |
| Deferred taxes | 2616 | 181 | (7336) | 6419 |
| Provision / update of contingencies |  |  | 85 | 54 |
| Share of profit of equity-accounted investees | (36577) | (43719) |  |  |
| Interest expenses - subordinated financial bills |  |  | (27913) | (17051) |
| **Adjusted net income** | **3753** | **(415)** | **(5446)** | **19620** |
| **Change in:** |  |  |  |  |
| Financial assets at fair value through profit or loss | (7694) | (6132) | (1545664) | (740100) |
| Derivative financial instruments | 1597 | 1260 | (62359) | 157759 |
| *Financial assets at amortized cost* |  |  |  |  |
| - Loans |  |  | 25211 | (87723) |
| - Other financial assets at amortized cost |  |  | 643879 | 274236 |
| Financial assets at fair value through other comprehensive income |  |  | 340981 | (90311) |
| Other assets | 1887 | (78) | (16592) | 1273 |
| Amounts payable – Suppliers | 19 | (8) | (7879) | 548 |
| *Financial liabilities at amortized cost* |  |  |  |  |
| - Repurchase agreements |  |  | 1393895 | 511626 |
| - Client deposits |  |  | (385960) | (125541) |
| - Debt issued and others |  |  | 259806 | 385040 |
| - Other financial liabilities |  |  | (623048) | (410865) |
| Financial liabilities at fair value through profit or loss |  |  | (31954) |  |
| Taxes payable | (2205) | 158 | (1859) | 6943 |
| Other amounts payable | (8932) | 1029 | 11628 | (17579) |
| **Cash (used in) operating activities** | **(11575)** | **(4186)** | **(5361)** | **(115074)** |
| Income tax and social contribution paid | (965) |  | (4896) | (13801) |
| **Net cash (used in) operating activities** | **(12540)** | **(4186)** | **(10257)** | **(128875)** |
| **Cash flows from investment activities** |  |  |  |  |
| Payment of capital in equity-accounted investees |  |  |  | (6) |
| Dividends received |  | 4185 |  |  |
| Acquisition of property, plant and equipment for use |  |  | (2972) | (468) |
| **Cash generated by (used in) investment activities** | **-** | **4185** | **(2972)** | **(474)** |
| **Cash flows from financing activities** |  |  |  |  |
| Lease liabilities |  |  | (1931) | (2038) |
| Payment of interest from subordinated financial bills |  |  | (15566) |  |
| Issuance of subordinated financial bills |  |  |  | 89700 |
| **Cash flow generated by (used in) financing activities** | **-** | **-** | **(17497)** | **87662** |
| **(Decrease) in cash and cash equivalents** | **(12540)** | **(1)** | **(30726)** | **(41687)** |
| Cash and cash equivalents at the beginning of the period | 29504 | 2 | 137792 | 575235 |
| Effect of changes in exchange rates on cash and cash equivalents |  |  | 11354 | 15931 |
| Cash and cash equivalents at the end of the period | 16964 | 1 | 118420 | 549479 |
| **(Decrease) in cash and cash equivalents** | **(12540)** | **(1)** | **(30726)** | **(41687)** |
| **Supplementary information of operating cash flows** |  |  |  |  |
| Interest received |  |  | 655020 | 468134 |
| Interest paid |  |  | (490520) | (365101) |

---

See the accompanying notes to the condensed parent and consolidated interim financial information.

**BRBI BR Partners S.A.**

Condensed statements of value added for the three-month period ended March 31

*(In thousands of reais)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Parent company** | **Parent company** | **Consolidated** | **Consolidated** |
|  | 03/31/2026 | 03/31/2025 | 03/31/2026 | 03/31/2025 |
| **Revenues** | **9809** | **6487** | **2856101** | **1945816** |
| Financial Intermediation | 9809 | 6487 | 2768529 | 1864332 |
| Rendering of services |  |  | 88196 | 81866 |
| Impairment losses |  |  | (821) | (521) |
| Other |  |  | 197 | 139 |
| **Financial expenses** | **(3045)** | **(1615)** | **(2721918)** | **(1818712)** |
| **Inputs acquired from third parties** | **(1620)** | **(4170)** | **(37991)** | **(24006)** |
| Materials, energy and others | (650) | (383) | (11144) | (9741) |
| Outsourced services | (502) | (3473) | (26167) | (13854) |
| Other operating expenses | (468) | (314) | (680) | (411) |
| **Gross value added** | **5144** | **702** | **96192** | **103098** |
| **Depreciation and amortization** | **-** | **-** | **(2537)** | **(3504)** |
| **Net value added produced by the Company** | **5144** | **702** | **93655** | **99584** |
| **Value added received as transfer** | **36577** | **43720** | **-** | **-** |
| Equity in net income of subsidiaries | 36577 | 43720 |  |  |
| **Total value added payable** | **41721** | **44422** | **93655** | **99594** |
| **Distribution of value added** | **41721** | **44422** | **93655** | **99594** |
| **Personnel** | **1189** | **976** | **35504** | **29517** |
| Direct remuneration | 1069 | 773 | 31152 | 24610 |
| Benefits | 115 | 197 | 3740 | 4110 |
| FGTS (severance indemnity fund) | 5 | 6 | 612 | 797 |
| **Taxes, duties and contributions** | **2818** | **323** | **19176** | **26443** |
| Federal | 2818 | 323 | 14859 | 22426 |
| Municipal |  |  | 4317 | 4017 |
| **Third-party capital remuneration** | **-** | **-** | **1261** | **511** |
| Rents |  |  | 1261 | 511 |
| **Remuneration of equity capital** | **37714** | **43123** | **37714** | **43123** |
| Profit for the period | 37714 | 43123 | 37714 | 43123 |

---

See the accompanying notes to the condensed parent and consolidated interim financial information.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**1. Operations**

BRBI BR Partners S.A. ("Company" or "Parent Company", and jointly with subsidiaries, "BR Partners Group" or "Group") is a publicly-held corporation, headquartered at Avenida Brigadeiro Faria Lima nº 3.732 – 28º floor, in the city of São Paulo, State of São Paulo, and shares traded in units on stock exchanges.

In Brazil, shares are traded on B3 S.A. - Brasil, Bolsa, Balcão ("B3 S.A.") under the ticker BRBI11. Each unit consists of two preferred shares and one common share. The Company also has Level II American Depositary Receipt ("ADRs"), which are backed by four units listed on the B3 and traded on the Nasdaq Inc.

The Company is engaged in investing in other companies, domestic or foreign, as a partner, quota holder or shareholder and management of our assets. The ultimate control is held by BR Partners Holdco Participações S.A. ("Holdco"), which holds for 29% and 55.01% at March 31, 2026 and December 31, 2025, respectively – of the Company's total capital.

The Group is part of a context of businesses related to investment banking, capital markets, treasury for clients, investments and wealth management.

**2. Preparation basis and presentation of condensed interim financial information**

**a. Statements of conformity (regarding the IFRS and Accountant Statements Committee - CPC rules)**

The condensed parent company and consolidated interim financial information was prepared in accordance with Technical Pronouncement CPC 21 (R1) – Interim Financial Reporting, issued by the Accounting Pronouncements Committee ("CPC") and approved by the Brazilian Securities and Exchange Commission ("CVM") and IAS 34 – Interim Financial Reporting, issued by the International Accounting Standards Board ("IASB"). All material information specific to the condensed parent company and consolidated interim financial information, and only thereto, is being ascertained, and corresponds to the information used by Management in managing the company.

The information regarding the bases for the preparation and presentation of the condensed parent company and consolidated interim financial information, as well as summary of material accounting policies did not undergo material changes in relation to those disclosed in the Company's parent company and consolidated financial statements for the year ended December 31, 2025, which should be read together.

The Company's condensed interim financial information was approved by the Board of Directors on May 5, 2026.

**b. Functional and presentation currency**

The condensed parent company and consolidated interim financial information is presented in thousands of Reais, which is the Company's functional currency.

Transactions in foreign currencies are translated into the functional currency using the exchange rates prevailing on the transaction dates, with exchange gains and losses recognized in the statements of profit or loss in the "Interest revenues and gains on financial instruments" or "Interest expenses and losses on financial instruments" captions.

For investments abroad that have a functional currency other than the Real, the effects of the translation are recorded in shareholders' equity under "Other Comprehensive Income".

**c. Condensed interim financial information**

In the process of interim financial information consolidation, equity interests, asset and liability account balances, revenues, expenses and intercompany unrealized income were eliminated.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

We highlight the subsidiaries (direct and indirect) included in the condensed consolidated interim financial information:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | | | % interest | % interest |
|  | <br>Line of business | <br>Country | 03/31/2026 (1) | 12/31/2025 (1) |
| **Direct subsidiaries** |  |  |  |  |
| BR Partners Assessoria Financeira Ltda. | Rendering of Services | Brazil | 99.99 | 99.99 |
| BR Partners Gestão de Recursos Ltda. | Rendering of Services | Brazil | 99.99 | 99.99 |
| BR Partners Participações Financeiras Ltda. | *Financial holding company* | Brazil | 99.99 | 99.99 |
| BR Partners Mercados de Capitais Ltda. | Rendering of Services | Brazil | 99.99 | 99.99 |
| BR Partners Assessoria em Soluções de Capital Ltda. | Rendering of Services | Brazil | 99.99 | 99.99 |
| BR Partners Assessoria Financeira Rio de Janeiro Ltda. | Rendering of Services | Brazil | 100 | 100 |
| **Indirect subsidiaries** |  |  |  |  |
| BR Partners Banco de Investimento S.A. | Investment bank | Brazil | 99.99 | 99.99 |
| BR Partners Europe B.V. | Rendering of Services | Netherlands | 100 | 100 |
| BR Partners Corretora de Seguro Ltda. | Rendering of Services | Brazil | 99.99 | 99.99 |
| **Investment funds (2)** |  |  |  |  |
| Total Fundo de Investimento Financeiro – Classe de Investimento Multimercado Crédito Privado – Responsabilidade Limitada | Investment fund | Brazil | 100 | 100 |
| BR Partners Capital | Investment fund | Cayman | 100 | 100 |

---

<sup>(1)</sup> Percentages below 100% refer to the interest of BR Partners Holdco Participações S.A. (Holding Company).

<sup>(2)</sup> Investment funds in which the Group substantially assumes or retains risks and rewards were consolidated.

 

**d. Use of significant estimates and judgments**

In the preparation of this condensed parent company and consolidated interim financial information, Management used judgments and estimates that affect the Group's application of accounting policies and amounts reported of assets, liabilities, revenues and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on a continuous basis. Revisions to estimates are recognized prospectively and information on judgments is continuously reviewed by an annual basis by the Management areas.

**Fair value of financial instruments**

Financial instruments recorded at fair value in our parent company and consolidated financial information is mainly comprised by financial assets measured at fair value through profit or loss, including derivatives and financial assets measured at fair value through other comprehensive income. The fair value of a financial instrument corresponds to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between willing market participants at the measurement date.

Financial instruments are categorized within a hierarchy based on the lowest level of information, which is significant for measuring fair value. For instruments classified as Level 3, we use our own judgment to arrive at the fair value measurement.

We base our judgment decisions on our knowledge and observations of the markets relevant to the individual assets and liabilities, and those judgments may vary based on market conditions. In applying our judgment, we look at a range of third-party prices and transaction volumes to understand and assess the extent of market benchmarks available and the judgments or modeling required in third-party processes.

Based on these factors, we determine whether the fair values are observable in active markets or whether the markets are inactive. Imprecision in estimating unobservable market inputs can impact the amount of revenue or loss recorded for a particular position. Furthermore, while we believe our valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value on the reporting date. For a detailed discussion of the determination of fair value of financial instruments please, see Note 20.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**3. Risk management**

The Group maintains a financial risk management structure – comprising market, credit, liquidity and capital management – based on strategic guidelines and governance by specialized committees. The operational model ensures the segregation of duties, with the Risk Management area operating independently from the business units and reporting directly to the Executive Board for the purposes of monitoring, control, and mitigation of exposures.

**a. Operating limits** 

Capital is managed by BR Partners Group Management and aims to ensure that the analysis of capital sufficiency (Basel ratio) is performed in an independent and technical manner, considering existing risks and those included in strategic planning.

---

| | | |
|:---|:---|:---|
| **Consolidated (1)** | 03/31/2026 | 12/31/2025 |
| **Reference Equity (PR) - (a)** | **1295176** | **1296697** |
| **Level I** | **1010029** | **1022245** |
| Principal capital | 572203 | 586070 |
| Supplementary capital | 437826 | 436175 |
| **Level II** | **285147** | **274452** |
| Subordinated Financial Bills Eligible for Capital | 285147 | 274452 |
| **Total risk-weighted exposure - (b)** | **5770922** | **5741744** |
| Credit risk | 3376111 | 3511133 |
| Market risk | 1617484 | 1670339 |
| Operating risk | 777327 | 560272 |
| **Basel Ratio - (a/b)** | **22.4%** | **22.6%** |
| Tier I Capital | 17.5% | 17.8% |
| Tier II Capital | 4.9% | 4.8% |

---

<sup>(1)</sup> The information pertains to BR Partners Banco de Investimento S.A., which follows the regulations of the Brazilian Central Bank for calculating the capital ratio.

In the period ended March 31, 2026 and year ended December 31, 2025, the Basel ratio complies with the minimum amount required by the Central Bank of Brazil (minimum required is 10.5%).

**b. Market risk**

Market risk is defined as the possibility of incurring losses due to adverse fluctuations in prices, market rates, shares and commodities in the Group's portfolio positions. Market risk management is defined as the continuous process of identifying, measuring, evaluating, mitigating, monitoring and reporting exposures arising from positions held in foreign exchange, interest rates, shares and commodities, with the objective of keeping them within the regulatory limits.

**i. Market risk management**

The Group segregates its exposure to market risk between the Trading and Banking portfolios. Trading portfolio includes proprietary positions, which are represented by financial instruments (assets and liabilities) managed based on fair value. The banking portfolio is predominantly characterized by operations from the banking business and related to the management of the Group's assets (credit portfolio) and liabilities (funding portfolio) financial instruments.

The Assets and Liabilities Committee ("ALCO") is responsible for setting limits for each type of risk in aggregate and by type of portfolio, mitigating and preventing exposure to market risk. The market risk policy, reviewed annually, defines the market risk management framework.

**ii. Market risk exposures – Trading portfolio**

The main types of risk in this portfolio are exchange rates, interest rates, price indices and inflation rates. The tool used to measure and control exposure to market risk in the Group's trading portfolio is Value-at-Risk ("VaR"). The VaR of a trading portfolio is the estimated maximum loss that can occur with a specified probability (confidence level) over a given period, considering adverse market changes. The VaR model used by the Group is parametric, based on a 99% confidence level for daily losses.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

The VaR model used is based on a parametric approach, with daily volatilities calculated for each risk factor using the EWMA ("Exponentially Weighted Moving Average") methodology, applying a Lambda factor of 0.96 (based on an effective period of 126 observations). Furthermore, the correlation between the daily returns of the risk factors is calculated, resulting in the creation of a correlation matrix that is applied to calculate the portfolio's VaR.

The general structure of VaR limits is subject to review and approval by ALCO is measured daily to ensure proper monitoring of market risk. Monthly reports are submitted to ALCO for approval and backtesting is also carried out to validate the calculated models.

**Presentation of Values at risk (in the year) - Trading Portfolio**

---

| | | |
|:---|:---|:---|
|  | **Closing** | **Closing** |
| *(R$ amounts in thousands)* | 03/31/2026 | 12/31/2025 |
| - Interest rate | 226 | 316 |
| - Price index / inflation rate | 1157 | 668 |
| - Foreign exchange | 124 | 106 |
| - Other | 97 | 44 |
| **Non-correlated Trading Portfolio** | **1604** | **1134** |
| **Correlated Trading Portfolio** | **1280** | **891** |

---

**iii. Market risk exposures – Banking portfolio**

The principal risk to which the Banking portfolio is exposed is the risk of loss due to fluctuations in future cash flows or the fair value of financial instruments because of a change in market interest rates, price index and inflation rates. ALCO is the committee responsible for monitoring and complying with the daily limits for this portfolio.

Banking portfolio risks are calculated based on the contractual cash flows of eligible financial instruments, using the Delta NII methodology, as established by the regulator. Sensitivity analysis for instruments in the Banking portfolio subject to market risk begins by classifying them according to their exposure to risk factors. The Group applies parallel shocks to the respective yield curves as a sensitivity analysis methodology, monitoring the behavior of exposures and the gaps of each risk factor. The methodology used to define the reasonably possible changes in risk factors for a period of 1 year considers probability intervals of 95% and 99%, based on a historical period of 10 years for each risk factor. Aiming to analyze sensitivity, possible stress scenarios were defined, the shocks of which were applied to the operations contained in the Banking portfolio, considering the changes that would negatively affect the Group's positions, based on market data on the respective dates.

The shocks used in each scenario are described below (delta in annual NII in thousands of Reais):

***Interest rate***

The risk factors are related to financial instruments (assets and liabilities) which are sensitive to changes in interest rates. The shocks were calculated considering the cash flows of these financial instruments.

● Scenario 1: +11 bp (0.1% p.a.) in the interest rate in reais.

● Scenario 2: +54 bp (0.5% p.a.) in the interest rate in reais.

● Scenario 3: +69 bp (0.7% p.a.) in the interest rate in reais.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 | 12/31/2025 | 12/31/2025 | 12/31/2025 |
| Portfolio | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 1 | Scenario 2 | Scenario 3 |
| Banking | 305 | 1448 | 1844 | 349 | 1658 | 2112 |
| **Total** | **305** | **1448** | **1844** | **349** | **1658** | **2112** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

 ****

***Price Index/Inflation Rate***

These are exposures sensitive to changes in coupon rates related to price indices and inflation rates. The shocks were calculated on the cash flows of the financial instruments (assets and liabilities).

● Scenario 1: +20 bp (0.20% p.a.) in the price index/inflation rate in Reais.

● Scenario 2: +57 bp (0.57% p.a.) in the price index/inflation rate in Reais.

● Scenario 3: +83 bp (0.83% p.a.) in the price index/inflation rate in Reais.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 | 12/31/2025 | 12/31/2025 | 12/31/2025 |
| *Portfolio* | Scenario 1 | Scenario 2 | Scenario 3 | Scenario 1 | Scenario 2 | Scenario 3 |
| Banking | 2773 | 7815 | 11419 | 4572 | 12885 | 18828 |
| **Total** | **2773** | **7815** | **11419** | **4572** | **12885** | **18828** |

---

**c. Credit risk**

Credit risk is defined as the possibility of losses associated with the failure, on the part of the borrower or counterparty, to meet their respective financial obligations under the agreed-upon terms, devaluation of the credit agreement resulting from the deterioration in the classification of the borrower's risk, reduction of gains or remuneration, advantages granted in the renegotiation, and costs of recovery.

The Group has an internal model to assign credit risk ratings to its clients, which considers their size, the nature and complexity of their operations and their risk profile. Accordingly, the main factors considered when constructing the internal rating include the business risk profile, financial risk profile and adjustment factors (financial policy, liquidity, influence of the economic group, etc.).

The estimates of losses due to default are based on the value at risk, the probability of default, and the expected losses from default, taking into account all recovery efforts.

**d. Liquidity risk**

It is defined as the possibility that the Group may not be able to efficiently meet its expected and unexpected (current and future) obligations, including those arising from binding guarantees, without affecting its daily operations and incurring material losses. Management is centralized in the Treasury and monitored by the Risk area and the ALCO. The control uses stress scenarios, Minimum Liquidity Reserve (MLR), and Contingency Plan, assessing short-term flows (up to 90 days) and the potential cash depletion under adverse conditions.

**Exposure to liquidity risk**

We present below the contractual maturities of financial assets and liabilities. These amounts are gross and include accrual of contractual interest.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Consolidated - Contractual cash flows** | **Consolidated - Contractual cash flows** | **Consolidated - Contractual cash flows** | **Consolidated - Contractual cash flows** | **Consolidated - Contractual cash flows** |
|  |<br>Total account amount on 03/31/2026 | ≤3 months | 4–12 months | 1–3 years | >3 years | Projected balance |
| **Financial assets** |  |  |  |  |  |  |
| - Cash and cash equivalents | 118420 | 118420 |  |  |  | 118420 |
| - Financial assets at fair value through profit or loss | 13258314 | 11640557 | 490352 | 588869 | 1384179 | 14103957 |
| - Financial assets at fair value through other comprehensive income | 2959096 | 236911 | 23199 | 384388 | 8580802 | 9225300 |
| - Financial asset at amortized cost | 454279 | 157043 |  | 322185 | 5644 | 484872 |
| **Derivative financial instruments** |  |  |  |  |  |  |
| - Swap | 909640 | 100060 | 81868 | 63675 | 1755605 | 2001208 |
| - NDF | 45471 | 31830 | 7730 | 3638 |  | 43198 |
| - Options | 132566 | 1326 | 46398 | 115333 |  | 163057 |
| - Futures | 38507 | 385 | 1540 | 5006 | 63921 | 70852 |
| **Total** | **17916293** | **12286532** | **651087** | **1483094** | **11790151** | **26210864** |
| **Financial liabilities** |  |  |  |  |  |  |
| **-** Financial liabilities at fair value through profit or loss | 1268 | 1268 |  |  |  | 1268 |
| Amortized cost |  |  |  |  |  |  |
| - Suppliers | 3364 | 3364 |  |  |  | 3364 |
| - Client deposits | 1252004 | 110527 | 756849 | 521109 | 12407 | 1400892 |
| - Debt issued and others | 3919985 | 352799 | 1411195 | 1881593 | 3959185 | 7604772 |
| - Repurchase agreements | 11332812 | 11332812 |  |  |  | 11332812 |
| - Other financial liabilities | 158615 | 158615 |  |  |  | 158615 |
| - Lease liabilities | 36066 | 1931 | 7726 | 15451 | 22533 | 47641 |
| **Derivatives** |  |  |  |  |  |  |
| - Swap | 306635 | 33730 | 27597 | 21464 | 591804 | 674595 |
| - NDF | 37508 | 26256 | 6376 | 3001 |  | 35633 |
| - Options | 26670 | 267 | 9334 | 23203 |  | 32804 |
| - Futures | 14114 | 141 | 565 | 1835 | 23430 | 25971 |
| **Total** | **17089041** | **12021710** | **2219642** | **2467656** | **4609359** | **21318367** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Consolidated - Contractual cash flows** | **Consolidated - Contractual cash flows** | **Consolidated - Contractual cash flows** | **Consolidated - Contractual cash flows** | **Consolidated - Contractual cash flows** |
|  |<br>Total account amount on 12/31/2025 | ≤3 months | 4–12 months | 1–3 years | >3 years | Projected balance |
| **Financial assets** |  |  |  |  |  |  |
| - Cash and cash equivalents | 137792 | 137792 |  |  |  | 137792 |
| - Financial assets at fair value through profit or loss | 11712650 | 10142132 | 84251 | 743436 | 1469910 | 12439729 |
| - Financial assets at fair value through other comprehensive income | 3308755 | 235308 | 83211 | 627340 | 8310745 | 9256604 |
| - Financial asset at amortized cost | 1124190 | 939231 |  | 226503 |  | 1165734 |
| **Derivative financial instruments** |  |  |  |  |  |  |
| - Swap | 869232 | 43462 | 147770 | 121693 | 1521158 | 1834083 |
| - NDF | 32552 | 12695 | 16276 | 2279 |  | 31250 |
| - Options | 106239 |  | 39308 | 95615 |  | 134923 |
| - Futures | 15326 | 7203 | 8123 | 613 |  | 15939 |
| **Total** | **17306736** | **11517823** | **378939** | **1817479** | **11301813** | **25016054** |
| Financial liabilities |  |  |  |  |  |  |
| - Financial liabilities at fair value through profit or loss | 33222 | 33222 |  |  |  | 33222 |
| Amortized cost |  |  |  |  |  |  |
| - Suppliers | 11243 | 11243 |  |  |  | 11243 |
| - Client deposits | 1637964 | 458630 | 720704 | 638806 | 16380 | 1834520 |
| - Debt issued and others | 3703658 | 163375 | 1306993 | 1568392 | 3278023 | 6316783 |
| - Repurchase agreements | 9938917 | 9938917 |  |  |  | 9938917 |
| - Other financial liabilities | 749095 | 749095 |  |  |  | 749095 |
| - Lease liabilities | 32568 | 1850 | 3699 | 20346 | 20962 | 46857 |
| **Derivatives** |  |  |  |  |  |  |
| - Swap | 264236 | 13212 | 44920 | 36993 | 462413 | 557538 |
| - NDF | 46317 | 18063 | 23159 | 3242 |  | 44464 |
| - Options | 4522 |  | 1673 | 4070 |  | 5743 |
| - Futures | 29376 | 13807 | 15569 | 1175 |  | 30551 |
| **Total** | **16451118** | **11401414** | **2116717** | **2273024** | **3777778** | **19568933** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**e. Foreign exchange risk**

A summary of the Group's exposure to foreign exchange risk is presented below, highlighting that the amounts in reais may differ from the figures presented in the consolidated financial information:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 | 03/31/2026 |
|  | R$(Real) | US$(Dollar) | € (Euro) | ¥ (Yen) |
| Foreign exchange exposure | (58237) | 54129 | 4108 |  |
| **Derivatives** |  |  |  |  |
| Swap | 269180 | (269180) |  |  |
| NDF | 176512 | (17454) |  | (159058) |
| Options | 43223 | (43223) |  |  |
| Futures | (435366) | 277449 | (752) | 158669 |
| **Total** | **(4688)** | **1721** | **3356** | **(389)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 |
|  | R$(Real) | US$(Dollar) | € (Euro) | ¥ (Yen) |
| Foreign exchange exposure | (39047) | 34369 | 4678 |  |
| **Derivatives** |  |  |  |  |
| Swap | 3695 | (3695) |  |  |
| NDF | 622499 | (520777) |  | (101722) |
| Options | (38632) | 38632 |  |  |
| Futures | (552444) | 453096 | (1618) | 100966 |
| **Total** | **(3929)** | **1625** | **3060** | **(756)** |

---

**4. Cash and cash equivalents**

---

| | | |
|:---|:---|:---|
| **Parent Company** | 03/31/2026 | 12/31/2025 |
| Banks - Checking account | 1 | 1 |
| Bank Certificate of Deposits | 16963 | 29503 |
| **Total** | **16964** | **29504** |

---

---

| | | |
|:---|:---|:---|
| **Consolidated** | 03/31/2026 | 12/31/2025 |
| Banks - Checking account | 2700 | 3040 |
| Balances with Brazilian Central Bank | 100 | 1034 |
| Bank accounts in foreign currency | 31862 | 3675 |
| Money market repurchases agreements (1) | 83758 | 130043 |
| **Total** | **118420** | **137792** |

---

<sup>(1)</sup> On March 31, 2026 and December 31, 2025, the repurchase agreements had a substantial resale date for April 1, 2026 and January 2, 2026, respectively.

**5. Financial instruments**

**a. Financial assets at fair value through profit or loss**

---

| | | |
|:---|:---|:---|
|  | Fair / book value | Fair / book value |
| **Parent Company** | 03/31/2026 | 12/31/2025 |
| Investment fund quotas |  |  |
| &nbsp;&nbsp;&nbsp;- Investment fund quotas | 97251 | 89577 |
| **Total** | **97251** | **89577** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

---

| | | |
|:---|:---|:---|
|  | Fair / book value | Fair / book value |
| **Consolidated** | 03/31/2026 | 12/31/2025 |
| **Government bonds (1)** | **12988707** | **11369995** |
| - Financial treasury bills (LFTs) | 324073 | 377269 |
| - National treasury bills (LTN) | 1024160 | 1053142 |
| - National treasury notes (NTN-B) | 9156865 | 8331749 |
| - National treasury notes (NTN-F) | 2475336 | 1599085 |
| - Government bonds of foreign governments | 8273 | 8750 |
| **Private securities (2)** | **172356** | **174349** |
| - Certificates of real estate receivables | 21204 | 26516 |
| - Certificates of agribusiness receivables | 59833 | 61000 |
| - Debentures | 91319 | 86833 |
| **Investment fund quotas (3)** | **97251** | **168306** |
| - Investment fund quotas | 97251 | 168306 |
| **Total** | **13258314** | **11712650** |

---

**b. Financial assets at fair value through other comprehensive income**

---

| | | |
|:---|:---|:---|
|  | Fair value/Book value | Fair value/Book value |
| **Consolidated** | 03/31/2026 | 12/31/2025 |
| **Private securities (2)** | **1180174** | **1385470** |
| - Certificates of real estate receivables | 802695 | 903281 |
| - Certificates of agribusiness receivables | 52560 | 40772 |
| - Debentures | 179887 | 326345 |
| - Commercial notes | 145032 | 115072 |
| **Investment fund quotas (3)** | **1778922** | **1923285** |
| - Investment fund quotas | 1778922 | 1923285 |
| **Total** | **2959096** | **3308755** |

---

<sup>(1)</sup> Government bonds are under the custody of the Special Settlement and Custody System (SELIC) of the Brazilian Central Bank whose fair value was calculated by means of prices disclosed by ANBIMA – Brazilian Association of Financial Market and Capital Entities.

<sup>(2)</sup> The Certificates of Real Estate Receivables, Certificates of Agribusiness Receivables, Real Estate Credit Bills and Commercial Notes are classified at Fair Value through Profit or Loss ("FVTPL") or Fair Value through Other Comprehensive Income ("FVTOCI") and they are registered with the Clearing House of Custody and Financial Settlement of Securities ("B3 S.A."), the valuation of which is carried out by IPCA or CDI rate + fixed interest rate.

**6. Derivative financial instruments**

**a. Breakdown per index**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 | 03/31/2026 |
| **Parent Company** | Assets | Assets | Liabilities | Liabilities |
|  | Amounts<br> receivable | Nominal<br> value | Amounts<br> payable | Nominal<br> value |
| **Swap** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;IPCA x CDI |  |  | (1519) | 73311 |
| &nbsp;&nbsp;&nbsp;Fixed rate x CDI | 1584 | 72734 | (317) | 41818 |
| **Total** | **1584** | **72734** | **(1836)** | **115129** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 |
| **Parent Company** | Assets | Assets | Liabilities | Liabilities |
|  | Amounts<br> receivable | Nominal<br> value | Amounts<br> payable | Nominal<br> value |
| **Swap** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;IPCA x CDI | 57 | 5070 | (1566) | 68241 |
| &nbsp;&nbsp;&nbsp;Fixed rate x CDI | 2954 | 73076 | (100) | 30105 |
| **Total** | **3011** | **78146** | **(1666)** | **98346** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 | 03/31/2026 |
| **Consolidated** | Assets | Assets | Liabilities | Liabilities |
|  | Amounts<br> receivable | Nominal<br> value | Amounts<br> payable | Nominal<br> value |
| **Swap** | **909640** | **12321760** | **(306635)** | **6194567** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IPCA x CDI | 59005 | 155181 | (7405) | 74100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IPCA x Fixed rate | 2865 | 88950 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDI X Dollar | 8167 | 299644 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDI x IPCA | 733251 | 7359020 | (259435) | 3622423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDI x Fixed rate | 100744 | 3298385 | (9360) | 747104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDI X CDI | 1245 | 656819 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed rate x CDI | 4363 | 463761 | (23454) | 1152923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed rate x IPCA |  |  | (6684) | 568937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dollar x Fixed rate |  |  | (297) | 29080 |
| **NDF (*Non-deliverable Forward*)** | **45471** | **701475** | **(37508)** | **743817** |
| &nbsp;&nbsp;&nbsp;**Currency term** | **33878** | **501001** | **(23183)** | **469819** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dollar x Fixed rate | 116 | 11943 | (23027) | 390048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre x Dollar | 19512 | 319723 | (156) | 79771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed rate x Yen | 14250 | 169335 |  |  |
| &nbsp;&nbsp;&nbsp;**Forward commodities** | **11593** | **200474** | **(14325)** | **273998** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commodities | 11593 | 200474 | (14325) | 273998 |
| **Options** | **132566** | **420962** | **(26670)** | **350900** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase of call options | 122599 | 141410 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase of put options | 9967 | 279552 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sale of call options |  |  | (19624) | 266368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sale of put options |  |  | (7046) | 84532 |
| **Futures** | **38507** | **4698133** | **(14114)** | **2559988** |
| &nbsp;&nbsp;&nbsp;**Long position** | **33285** | **4280654** | **(6374)** | **793479** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DAP | 25717 | 3751662 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DDI | 115 | 2563 | (3920) | 428079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DI1 | 3884 | 300346 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DOL |  |  | (2454) | 365400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WDO | 27 | 23670 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Currencies - FX | 213 | 158715 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commodities - Abroad | 3329 | 43698 |  |  |
| &nbsp;&nbsp;&nbsp;**Short position** | **5222** | **417479** | **(7740)** | **1766509** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DDI | 87 | 30480 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DI1 |  |  | (5005) | 1720256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IND |  |  | (349) | 13198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WDO | 2262 | 369325 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Currencies - FX |  |  | (4) | 752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commodities - Abroad | 2873 | 17674 | (2382) | 32303 |
| **Total** | **1126184** | **18142330** | **(384927)** | **9849272** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 |
| **Consolidated** | Assets | Assets | Liabilities | Liabilities |
|  | Amounts receivable | Nominal value | Amounts payable | Nominal value |
| **Swap** | **869232** | **12509027** | **(264236)** | **5878802** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IPCA x CDI | 55722 | 179205 | (6984) | 50930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IPCA x Fixed rate | 176 | 32950 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDI X Dollar | 7157 | 201600 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDI x IPCA | 721822 | 6893412 | (219779) | 3410393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDI x Fixed rate | 71245 | 2571538 | (18275) | 1293345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CDI x CDI | 956 | 1031819 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed rate x CDI | 10655 | 1158766 | (19033) | 1019468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed rate x IPCA | 1499 | 439737 | (165) | 104666 |
| **NDF (*Non-deliverable Forward*)** | **32552** | **942256** | **(46317)** | **1082966** |
| &nbsp;&nbsp;&nbsp;**Currency term** | **15629** | **640728** | **(22390)** | **739690** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dollar x Fixed rate | 1485 | 78040 | (14356) | 281355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre x Dollar | 10460 | 451469 | (8034) | 458335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed rate x Yen | 3684 | 111219 |  |  |
| &nbsp;&nbsp;&nbsp;**Forward commodities** | **16923** | **301528** | **(23927)** | **343276** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commodities | 16923 | 301528 | (23927) | 343276 |
| **Options** | **106239** | **270889** | **(4522)** | **192425** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Call of call option | 105234 | 181927 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Call of put option | 1005 | 88962 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sale of call option |  |  | (2488) | 103789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sale of put option |  |  | (2034) | 88636 |
| **Futures** | **15326** | **3421165** | **(29376)** | **5357373** |
| &nbsp;&nbsp;&nbsp;***Long position*** | **770** | **889134** | **(29240)** | **5067269** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DAP | 10 | 184490 | (2549) | 3338065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DDI |  |  | (7257) | 442942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DI1 | 532 | 665268 |  | 16983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DOL |  |  | (15656) | 977364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WDO |  |  | (2580) | 180864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Currencies - FX |  |  | (1127) | 101776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commodities - Abroad | 228 | 39376 | (71) | 9275 |
| &nbsp;&nbsp;&nbsp;***Short position*** | **14556** | **2532031** | **(136)** | **290104** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DDI | 3275 | 226286 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DI1 | 281 | 1488800 | (42) | 270864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IND |  |  | (67) | 11475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WDO | 4247 | 780406 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Currencies - FX | 3 | 1617 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commodities - Abroad | 6750 | 34922 | (27) | 7765 |
| **Total** | **1023349** | **17143337** | **(344451)** | **12511566** |

---

Financial collateral given for derivative financial instrument transactions with B3 S.A. are represented by government bonds and totaled R$296,351 on March 31, 2026 (R$375,419 on December 31, 2025).

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**b. Comparison between the cost and fair value**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 | 03/31/2026 |
| **Parent Company** | Cost | Unrealized gains/ (losses) | Credit risk adjustment | Fair value |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | (246) | 1830 |  | 1584 |
| **Total** | **(246)** | **1830** |  | **1584** |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | (1754) | (82) |  | (1836) |
| **Total** | **(1754)** | **(82)** |  | **(1836)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 |
| **Parent Company** | Cost | Unrealized gains/ (losses) | Credit risk adjustment | Fair value |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | (350) | 3361 |  | 3011 |
| **Total** | **(350)** | **3361** |  | **3011** |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | (1538) | (128) |  | (1666) |
| **Total** | **(1538)** | **(128)** |  | **(1666)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 | 03/31/2026 |
| **Consolidated** | Cost | Unrealized gains/ (losses) | Credit risk adjustment | Fair value |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | 322864 | 590457 | (3681) | 909640 |
| &nbsp;&nbsp;&nbsp;NDF | 46378 | (663) | (244) | 45471 |
| &nbsp;&nbsp;&nbsp;Options | 121735 | 11317 | (486) | 132566 |
| &nbsp;&nbsp;&nbsp;Futures | 38507 |  |  | 38507 |
| **Total** | **529484** | **601111** | **(4411)** | **1126184** |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | (454439) | 147804 |  | (306635) |
| &nbsp;&nbsp;&nbsp;NDF | (38483) | 975 |  | (37508) |
| &nbsp;&nbsp;&nbsp;Options | (26056) | (614) |  | (26670) |
| &nbsp;&nbsp;&nbsp;Futures | (14114) |  |  | (14114) |
| **Total** | **(533092)** | **148165** | **-** | **(384927)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 |
| **Consolidated** | Cost | Unrealized gains/ (losses) | Credit risk adjustment | Fair value |
| **Assets** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | 324639 | 548217 | (3624) | 869232 |
| &nbsp;&nbsp;&nbsp;NDF | 30113 | 2530 | (91) | 32552 |
| &nbsp;&nbsp;&nbsp;Options | 100008 | 6697 | (466) | 106239 |
| &nbsp;&nbsp;&nbsp;Futures | 15326 |  |  | 15326 |
| **Total** | **470086** | **557444** | **(4181)** | **1023349** |
| **Liabilities** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | (431095) | 166859 |  | (264236) |
| &nbsp;&nbsp;&nbsp;NDF | (45591) | (726) |  | (46317) |
| &nbsp;&nbsp;&nbsp;Options | (5278) | 756 |  | (4522) |
| &nbsp;&nbsp;&nbsp;Futures | (29376) |  |  | (29376) |
| **Total** | **(511340)** | **166889** | **-** | **(344451)** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**c. Breakdown per maturity**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 | 03/31/2026 | 03/31/2026 |
| **Parent Company** | ≤3 months | 4-12 months | 1–3 years | >3 years | Fair value |
| **Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap |  | 28 | 300 | 1256 | 1584 |
| **Total** | **-** | **28** | **300** | **1256** | **1584** |
| **Liabilities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | 3 | 248 | 708 | 877 | 1836 |
| **Total** | **3** | **248** | **708** | **877** | **1836** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 |
| **Parent Company** | ≤3 months | 4-12 months | 1–3 years | >3 years | Fair value |
| **Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap |  |  | 388 | 2623 | 3011 |
| **Total** |  | **-** | **388** | **2623** | **3011** |
| **Liabilities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap |  | 354 | 730 | 582 | 1666 |
| **Total** |  | **354** | **730** | **582** | **1666** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 | 03/31/2026 | 03/31/2026 |
| **Consolidated** | ≤3 months | 4-12 months | 1–3 years | >3 years | Fair value |
| **Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | 62634 | 54820 | 135694 | 656492 | 909640 |
| &nbsp;&nbsp;&nbsp;NDF | 19661 | 17749 | 8061 |  | 45471 |
| &nbsp;&nbsp;&nbsp;Options | 26885 | 37512 | 68169 |  | 132566 |
| &nbsp;&nbsp;&nbsp;Futures | 6528 | 2424 | 2303 | 27252 | 38507 |
| **Total** | **115708** | **112505** | **214227** | **683744** | **1126184** |
| **Liabilities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | (877) | (8446) | (104467) | (192845) | (306635) |
| &nbsp;&nbsp;&nbsp;NDF | (18874) | (12475) | (6159) |  | (37508) |
| &nbsp;&nbsp;&nbsp;Options | (24045) | (2625) |  |  | (26670) |
| &nbsp;&nbsp;&nbsp;Futures | (5760) | (1234) | (4825) | (2295) | (14114) |
| **Total** | **(49556)** | **(24780)** | **(115451)** | **(195140)** | **(384927)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 | 12/31/2025 |
| **Consolidated** | ≤3 months | 4-12 months | 1–3 years | >3 years | Fair value |
| **Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | 30256 | 91920 | 155534 | 591522 | 869232 |
| &nbsp;&nbsp;&nbsp;NDF | 13982 | 5674 | 12896 |  | 32552 |
| &nbsp;&nbsp;&nbsp;Options | 3840 | 35442 | 66957 |  | 106239 |
| &nbsp;&nbsp;&nbsp;Futures | 9875 | 4217 | 703 | 531 | 15326 |
| **Total** | **57953** | **137253** | **236090** | **592053** | **1023349** |
| **Liabilities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Swap | (605) | (3075) | (92378) | (168178) | (264236) |
| &nbsp;&nbsp;&nbsp;NDF | (17349) | (17237) | (11731) |  | (46317) |
| &nbsp;&nbsp;&nbsp;Options | (4344) | (178) |  |  | (4522) |
| &nbsp;&nbsp;&nbsp;Futures | (21677) | (5022) | (537) | (2140) | (29376) |
| **Total** | **(43975)** | **(25512)** | **(104646)** | **(170318)** | **(344451)** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**d. Derivatives offset amount**

The BR Partners Group does not have contracts in which the Company or its counterparty has the right to offset the amounts receivable and payable from the separate contracts in the event of default.

**e. Derivatives designated as hedge accounting**

---

| | | | |
|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2026 |
| **Strategy** | Hedging instrument – fair value (1) | Hedged item – fair value | Fair value adjustment on hedged item recorded in profit or loss (2) |
| Interest rate risk |  |  |  |
| *Floating rate funding* | (187471) | 221226 | 936 |
| **Total** | **(187471)** | **221226** | **936** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | 12/31/2025 | 12/31/2025 | 12/31/2025 |
| **Strategy** | Hedging instrument - fair value (1) | Hedged item – fair value | Fair value adjustment on hedged item recorded in profit or loss (2) |
| Interest rate risk |  |  |  |
| *Floating rate funding* | (188825) | 213886 | 2358 |
| **Total** | **(188825)** | **213886** | **2358** |

---

<sup>(1)</sup> The Group uses DI and DAP futures contracts, traded on B3 S.A., as a hedging instrument related to the interest rate risk of fixed and floating-rate funding selected for hedging. Daily adjustments related to futures contracts are recorded under "Interest revenues and gains on financial instruments" or "Interest expenses and losses on financial instruments".

<sup>(2)</sup> Balances presented on an accumulated basis for purposes of comparing the changes in the fair value of the instruments versus the hedged item.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**7. Financial asset at amortized cost**

**Valued at amortized cost**

There was no balance in the parent company for the period ended March 31, 2026 and year ended December 31, 2025, respectively.

---

| | | |
|:---|:---|:---|
| **Consolidated** | 03/31/2026 | 12/31/2025 |
| **Loans (1)** | **158926** | **184958** |
| **Other financial assets at amortized cost** | **295353** | **939232** |
| - Foreign exchange (2) | 157043 | 778918 |
| - Services receivable (3) | 123392 | 130532 |
| - Deposits (4) | 5644 | 5492 |
| - Other amounts | 9274 | 24290 |
| **Total** | **454279** | **1124190** |

---

<sup>(1)</sup> Refers to operations with clients of BR Partners Banco de Investimento S.A., represented by Bank Credit Notes and Real Estate Credit Notes.

<sup>(2)</sup> It refers to a purchased foreign exchange contract whose settlement was carried out on April 1, 2026 and January 2, 2026, respectively.

<sup>(3)</sup> Refer to services provided to clients and reimbursements receivable on expenditures defined in the service agreement.

<sup>(4)</sup> Refers to a security deposit in the amount of R$5,366 (R$5,262 as of December 31, 2025) and a labor court deposit in the amount of R$278 (R$230 as of December 31, 2025).

**8. Related party transactions**

The transactions between related parties were carried out in terms equivalent to those prevailing in transactions between independent parties.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Direct controlling<br> shareholder(1)** | **Direct controlling<br> shareholder(1)** | **Associated<br> companies/subsidiaries(2)** | **Associated<br> companies/subsidiaries(2)** | **Total** | **Total** |
| **Parent Company** | 03/31/2026 | 12/31/2025 | 03/31/2026 | 12/31/2025 | 03/31/2026 | 12/31/2025 |
| **Assets/(Liabilities)** |  |  |  |  |  |  |
| Amounts receivable |  |  | 55496 | 55496 | 55496 | 55496 |
| Derivative financial instruments |  |  | (253) | 1345 | (253) | 1345 |
| Fund quotas |  |  | 97251 | 89557 | 97251 | 89557 |
| Amounts payable | (7072) | (1708) | (4387) | (7713) | (11459) | (9421) |
| **Result/(Expenses)** |  |  |  |  |  |  |
| Result from derivatives |  |  | (1598) | 1345 | (1598) | 1345 |
| Revenue from investment in investment fund |  |  | 7694 | 4892 | 7694 | 4892 |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Direct controlling<br> shareholder(1)** | **Direct controlling<br> shareholder(1)** | **Associated companies(2)** | **Associated companies(2)** | **Key management <br> personnel(3)** | **Key management <br> personnel(3)** | **Total** | **Total** |
| **Consolidated** | 03/31/2026 | 12/31/2025 | 03/31/2026 | 12/31/2025 | 03/31/2026 | 12/31/2025 | 03/31/2026 | 12/31/2025 |
| **Assets/(Liabilities)** |  |  |  |  |  |  |  |  |
| Fund quotas |  |  | 97251 | 89557 |  |  | 97251 | 89557 |
| Time deposit certificate – Client deposit (4) | (1063) | (1497) | (15597) | (10345) | (3066) | (2096) | (19726) | (13938) |
| Amounts payable | (6009) | (385) | (4387) |  |  |  | (10396) | (385) |
| **Result/(Expenses)** |  |  |  |  |  |  |  |  |
| Revenue from investment in investment fund |  |  | 7694 | 4892 |  |  | 7694 | 4892 |
| Interest expense | (44) | (54) | (1004) | (1678) | (103) | (496) | (1151) | (2228) |

---

<sup>(1)</sup> BR Partners Holdco Participações S.A.

<sup>(2)</sup> Other companies of BR Partners Group, BR Partners Outlet Premium Fundo de Investimento em Participações Multiestratégia Responsabilidade Limitada and BR Partners Fundo de Investimento Financeiro.

<sup>(3)</sup> Members of Board of Directors and Executive Board.

<sup>(4)</sup> &nbsp;&nbsp;&nbsp;&nbsp;Represented by fundraising by BR Partners Banco de Investimento S.A., maturing up to March 1, 2029 at an average rate of 101% of CDI.

Remuneration rates presented above refer to the operations existing on March 31, 2026.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**a. Remuneration of key personnel**

---

| | | |
|:---|:---|:---|
|  | Three-month period ended | Three-month period ended |
| **Parent Company** | 03/31/2026 | 03/31/2025 |
| Directors' fee | 918 | 491 |
| Social charges | 184 | 98 |
| **Total** | **1102** | **589** |

---

---

| | | |
|:---|:---|:---|
|  | Three-month period ended | Three-month period ended |
| **Consolidated** | 03/31/2026 | 03/31/2025 |
| Directors' fee | 14655 | 11628 |
| Social charges | 2931 | 2326 |
| **Total** | **17586** | **13954** |

---

Key management personnel is represented by the Company's statutory executive board and Board of Directors who, in addition to dividends arising from their interests in BR Partners Holdco Participações S.A., receive remuneration for services rendered at the Company which is recorded under "Personnel expenses".

**9. Investments in subsidiaries**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Parent Company** | 12/31/2025 | Equity in net<br> income of<br> subsidiaries | Other<br> comprehensive<br> income(1) | 03/31/2026 |
| BR Partners Assessoria Financeira Ltda. | 1778 | (1984) | (270) | (476) |
| BR Partners Assessoria Financeira Rio de Janeiro Ltda. | 946 | (58) |  | 888 |
| BR Partners Mercados de Capitais Ltda. | 1000 | 27324 |  | 28324 |
| BR Partners Participações Financeiras Ltda. | 621172 | (1731) | (8408) | 611033 |
| BR Partners Gestão de Recursos Ltda. | 2003 | 11959 |  | 13962 |
| BR Partners Assessoria em Soluções de Capital Ltda. | 500 | 1067 | **-** | 1567 |
| **Total** | **627399** | **36577** | **(8678)** | **655298** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Parent Company** | 12/31/2024 | Equity in net<br> income of<br> subsidiaries | Dividends<br> received | Payment of<br> capital | Other<br> comprehensive<br> income(1) | 12/31/2025 |
| BR Partners Assessoria Financeira Ltda. | 1326 | 41193 | (41193) |  | 452 | 1778 |
| BR Partners Assessoria Financeira Rio de Janeiro Ltda. |  | (53) | (105) | 1104 |  | 946 |
| BR Partners Mercados de Capitais Ltda. | 1000 | 26296 | (26296) |  |  | 1000 |
| BR Partners Participações Financeiras Ltda. | 691344 | 39039 | (107687) |  | (1524) | 621172 |
| BR Partners Gestão de Recursos Ltda. | 2000 | 47517 | (47514) |  |  | 2003 |
| BR Partners Assessoria em Soluções de Capital Ltda. | 500 | 24092 | (24092) |  | **-** | 500 |
| **Total** | **696170** | **178084** | **(246887)** | **1104** | **(1072)** | **627399** |

---

<sup>(1)</sup> Represented by reflective equity valuation adjustments recorded at BR Partners Banco de Investimento S.A. and BR Partners Assessoria Financeira Ltda.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**10. Other amounts payable**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Parent Company** | **Parent Company** | **Consolidated** | **Consolidated** |
|  | 03/31/2026 | 12/31/2025 | 03/31/2026 | 12/31/2025 |
| Dividends payable | 19284 | 385 | 19284 | 385 |
| Amounts payable to related companies | 84 | 9036 |  |  |
| Lease liabilities(1) |  |  | 36066 | 32568 |
| Provision payable for expenses on personnel | 43 | 23 | 4928 | 3859 |
| Provision for contingency (Note 19.b) |  |  | 570 | 556 |
| Provision for surety bonds provided(2) |  |  | 192 | 197 |
| Future year earnings |  |  | 2249 | 2419 |
| Other |  |  | 10422 | 2707 |
| **Total** | **19411** | **9444** | **73711** | **42691** |

---

<sup>(1)</sup> The Group leases floors of a commercial building for a period of 10 years. As of April 31, 2026 and December 31, 2025, the non-cancelable minimum lease amounts are presented between 1 and 10 years.

<sup>(2)</sup> Refers to commissions on endorsements and sureties currently found in the credit portfolio of BR Partners Banco de Investimento S.A. (Note 19.a.)

**11. Financial liabilities**

**a. Financial assets at fair value through profit or loss**

---

| | | |
|:---|:---|:---|
|  | Fair value/Book value | Fair value/Book value |
| **Consolidated** | 03/31/2026 | 12/31/2025 |
| Obligations for loans of financial instruments | 1268 | 33222 |
| **Total** | **1268** | **33222** |

---

**b. Amortized cost**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated** | ≤3<br> months | 4–12<br> months | 1–3<br> years | >3<br> years | 03/31/2026 | 12/31/2025 |
| **Client deposits** | **99021** | **710974** | **440846** | **1163** | **1252004** | **1637964** |
| - Time deposit(1) | 99021 | 710974 | 429578 | 1163 | 1240736 | 1626884 |
| - Interbank deposits |  |  | 11268 |  | 11268 | 11080 |
| **Repurchase agreements** | **11332812** | **-** | **-** | **-** | **11332812** | **9938917** |
| - Government bonds(2) | 10640598 |  |  |  | 10640598 | 9066958 |
| - Private securities(2) | 692214 |  |  |  | 692214 | 871959 |
| **Debt issued and others** | **484471** | **1176121** | **1536420** | **722973** | **3919985** | **3703658** |
| - Financial bills(3) | 484471 | 1176121 | 1536420 |  | 3197012 | 2993031 |
| - Subordinated financial bills eligible for capital– Tier II(4) |  |  |  | 285147 | 285147 | 274452 |
| - Financial bills – supplementary capital(5) |  |  |  | 437826 | 437826 | 436175 |
| **Other financial liabilities** | **158615** | **-** | **-** | **-** | **158615** | **781663** |
| - Obligations with foreign exchange purchase(6) | 158615 |  |  |  | 158615 | 781663 |
| **Total** | **12074919** | **1887095** | **1977266** | **724136** | **16663416** | **16062202** |

---

 

<sup>(1)</sup> For fixed-rate Bank Deposit Certificates ("CDB"), the remuneration rate is between 9.92% and 16.49% p.a. and for floating-rate CDBs, the remuneration rate is between 96.1% and 113.8% of the DI, 100% of DI + 0.05% to 2.50% p.a. and IPCA + 4.87% and 9.18% p.a.

<sup>(2)</sup> For repurchase agreements linked to government bonds ("NTN-B", "NTN-F" and "LTN"), the yield rate is 14.65% p.a. and, for private securities (Debentures, CRI and CRA), the average yield rate is 93.6% of DI.

<sup>(3)</sup> For fixed-rate Financial Bills ("LF"), the remuneration rate is 11.38% p.a., and for floating-rate LFs the remuneration rate is between 100% and 109.57% of the DI + 0.49–2.94% p.a. and 100% of the IPCA + 6.39– 6.58% p.a.

<sup>(4)</sup> For fixed Subordinated Financial Bills Eligible to Capital ("LFSN"), the remuneration rate is 11.38%, and for floating-rate LFSN the remuneration rate is between 100% and 109.6% of the DI, 100% of DI + 1–2.94% and 100% of the IPCA + 6.39%.

<sup>(5)</sup> The Perpetual Subordinated Financial Bills, eligible for the composition of the complementary capital, are remunerated at floating rates of 100% of the DI + 1.80–2.50% p.a.

<sup>(6)</sup> Refers to the obligation linked to a purchased foreign exchange contract, whose settlement occurred on April 1, 2026.

Remuneration rates presented above refer to the operations existing on March 31, 2026.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**12. Shareholders' equity**

**a. Capital**

The Company's share capital, fully subscribed and paid in totaling R$674,940 at March 31, 2026 (R$674,940 at December 31, 2025), is represented by 314,987 shares: 200,546 registered, book-entry common shares with no par value and 114,441 registered preferred, book-entry shares with no par value as of March 31, 2026 and December 31, 2025.

**b. Profit reserve**

The legal reserve is increased annually by an allocation of 5% of net income for the year, and may not exceed 20% of the Company's share capital. The purpose of the legal reserve is to guarantee that the share capital is paid up and it is used solely to offset losses and increase capital. Other profit reserves refer to the retention of the remaining balance of retained earnings, pursuant to article 196 of Brazil's Corporation Act.

**c. Net earnings per share**

Basic earnings per share are calculated by dividing profit attributable to the Company's shareholders by the weighted average number of common shares for the period.

For the periods ended March 31, 2026 and 2025, there are no potential common and preferred shares in the Group for dilution purposes. Therefore, the basic and diluted earnings per share are the same.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 03/31/2026 | 03/31/2026 | 03/31/2025 | 03/31/2025 |
| Profit attributable to the Group's shareholders |  | 37714 |  | 43123 |
| Weighted average of shares issued |  | 314987 |  | 314987 |
| **Basic earnings and diluted per share (in Reais)** |  | **0.12** |  | **0.14** |

---

**d. Dividends**

Shareholders will be entitled to a non-cumulative mandatory minimum dividend, corresponding to 25% of the adjusted net income, as set forth in the Article 191 of Brazil's Corporation Act, reduced or increased by the amounts provided for in item I of Article 202 of the Brazil's Corporation Act and subject to the provisions of item II and III of the same article, as applicable.

**13. Revenue**

The following summary discloses the service revenues (revenue from contracts with customers) and the other accounting items that composes the consolidated total revenue disaggregated by line of business:

---

| | | | |
|:---|:---|:---|:---|
|  | Three-month period ended 03/31/2026 | Three-month period ended 03/31/2026 | Three-month period ended 03/31/2026 |
| Business line | Revenues <br> from <br> rendering of<br> services | Net interest<br> revenue<br> (expense)<br> and gains<br> (losses) on<br> financial<br> instruments | Total |
| Investment Banking and Capital Market | 84062 |  | 84062 |
| Treasury Sales & Structuring | 24 | 18548 | 18572 |
| Investments and Wealth Management | 4110 |  | 4110 |
| Capital Remuneration |  | 28063 | 28063 |
| **Total** | **88196** | **46611** | **134807** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | Three-month period ended 03/31/2025 | Three-month period ended 03/31/2025 | Three-month period ended 03/31/2025 |
| Business line | Revenues <br> from <br> rendering of<br> services | Net interest<br> revenue<br> (expense)<br> and gains<br> (losses) on<br> financial<br> instruments | Total |
| Investment Banking and Capital Market | 78486 |  | 78486 |
| Treasury Sales & Structuring |  | 17205 | 17205 |
| Investments and Wealth Management | 3380 |  | 3380 |
| Capital Remuneration |  | 28415 | 28415 |
| **Total** | **81866** | **45620** | **127486** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**14. Net interest revenue (expense) and gains (losses) on financial instruments**

---

| | | |
|:---|:---|:---|
|  | Three-month period ended | Three-month period ended |
| **Parent Company** | 03/31/2026 | 03/31/2025 |
| - Income from financial assets at fair value through profit or loss | 9809 | 6487 |
| - Expenses with financial assets at fair value through profit or loss | (3045) | (1615) |
| **Net interest revenue (expense) and gains (losses) on financial instruments** | **6764** | **4872** |

---

---

| | | |
|:---|:---|:---|
|  | Three-month period ended | Three-month period ended |
| **Consolidated** | 03/31/2026 | 03/31/2025 |
| **Interest revenues** |  |  |
| - Income from loans | 7963 | 19030 |
| - Income from guarantees granted | 619 | 508 |
| *Financial assets* |  |  |
| - At amortized cost |  | 3542 |
| - At fair value through profit or loss | 867833 | 529455 |
| **Total interest revenues** | **876415** | **552535** |
| **Interest expenses** |  |  |
| - Funding expenses | (232491) | (381971) |
| - Positive (negative) fair value - funding (Hedged Item) | (1422) | 1205 |
| *Financial assets* |  |  |
| - At fair value through profit or loss | (665425) | (103688) |
| **Total interest expenses** | **(899338)** | **(484454)** |
| **Net gains (losses) from operations in foreign currency** |  |  |
| Foreign exchange income | 16602 | 19566 |
| Foreign exchange expenses | (15154) | (18446) |
| **Total** | **1448** | **1120** |
| **Gains (losses), net of financial assets and liabilities at fair value through profit or loss** |  |  |
| Income from derivative operations | 1882154 | 1292230 |
| Expenses on derivative operations | (1814068) | (1315811) |
| **Total** | **68086** | **(23581)** |
| **Net interest revenue (expense) and gains (losses) on financial instruments** | **46611** | **45620** |

---

**15. Administrative expenses**

---

| | | |
|:---|:---|:---|
|  | Three-month period ended | Three-month period ended |
| **Parent Company** | 03/31/2026 | 03/31/2025 |
| Outsourced service expenses | 502 | 3473 |
| Financial system service expenses | 96 | 121 |
| Data processing expenses | 30 | 29 |
| Tax expenses | 169 | 9 |
| Other expenses | 355 | 224 |
| **Total** | **1152** | **3856** |

---

---

| | | |
|:---|:---|:---|
|  | Three-month period ended | Three-month period ended |
| **Consolidated** | 03/31/2026 | 03/31/2025 |
| Outsourced service expenses | 26167 | 13854 |
| Financial system service expenses | 1149 | 1769 |
| Data processing expenses | 3341 | 2737 |
| Amortization and depreciation expenses | 2537 | 2485 |
| Rent expenses | 1261 | 1530 |
| Tax expenses | 1669 | 1145 |
| Other expenses | 4986 | 4100 |
| **Total** | **41110** | **27620** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**16. Tax expenses**

---

| | | |
|:---|:---|:---|
|  | Three-month period ended | Three-month period ended |
| **Consolidated** | 03/31/2026 | 12/31/2025 |
| **Revenues from rendering of services** |  |  |
| - PIS | 638 | 699 |
| - COFINS | 2995 | 3407 |
| - ISS | 4361 | 4017 |
| **Income (loss) from financial instruments net of interest** |  |  |
| - PIS | 6 | 364 |
| - COFINS | 43 | 2254 |
| **Total** | **8043** | **10741** |

---

**17. Income taxes**

**a. Current and deferred taxes**

---

| | | |
|:---|:---|:---|
|  | Three-month period ended | Three-month period ended |
| **Parent Company** | 03/31/2026 | 03/31/2025 |
| **Profit before income tax** | 40330 | 43303 |
| Rate (25% Income Tax (IR) and 9% Social Contribution (CSLL)) | (13712) | (14723) |
| *Effect of additions and deductions on the calculation of taxes* |  |  |
| - Additions/permanent exclusions | (1035) | (634) |
| - Temporary differences without recording deferred tax assets | (38) | 2249 |
| - Additions/exclusions – Undistributed earnings in equity method investees | 12436 | 14865 |
| Deferred - formation/(reversal) for the period |  | (180) |
| Tax losses and negative basis | (267) | (1757) |
| **Deferred income tax and social contribution in the periods** | **2616** | **(180)** |

---

---

| | | |
|:---|:---|:---|
|  | Three-month period ended | Three-month period ended |
| **Consolidated** | 03/31/2026 | 03/31/2025 |
| **Profit before income tax and social contribution** | 43756 | 54243 |
| Total income tax and social contribution charge at current rates | (14877) | (18443) |
| *Effect of additions and deductions on the calculation of taxes:* |  |  |
| - Permanent additions/(exclusions) | (704) | 807 |
| - Temporary differences without recording deferred tax assets | (38) | 164 |
| - Other(1) | 9577 | 6352 |
| **Income tax and social contribution in the periods** | **(6042)** | **(11120)** |
| Effective rate | 13.8% | 20.5% |
| Deferred income tax and social contribution | 458 | (7312) |
| Current income tax and social contribution | (6500) | (3808) |
| **Income tax and social contribution in the periods** | **(6042)** | **(11120)** |

---

<sup>(1)</sup> Basically includes: (i) adjustment for the different rates of non-financial companies taxed based on the presumed profit (BR Partners Gestão de Recursos Ltda., BR Partners Mercados de Capitais Ltda., BR Partners Assessoria em Soluções de Capital Ltda., BR Partners Corretora de Seguros Ltda. and BR Partners Assessoria Financeira Rio de Janeiro Ltda.); and (ii) difference in the financial institution's tax rate.

**b. Deferred tax assets and liabilities**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Parent Company** | 12/31/2025 | Constitution | Realization<br> /(Write-off) | 03/31/2026 |
| Tax loss and negative basis of social contribution | 5607 |  |  | 5607 |
| **Total deferred tax assets** | **5607** | **-** | **-** | **5607** |
| Deferred tax obligations on fair value of financial assets | 15656 | 2714 | (98) | 18272 |
| **Total deferred tax liabilities** | **15656** | **2714** | **(98)** | **18272** |
| **Total net deferred tax assets (liabilities)** | **(10049)** | **2714** | **(98)** | **(12665)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Parent Company** | 12/31/2024 | Constitution | Realization<br> /(Write-off) | 03/31/2025 |
| Tax loss and negative basis of social contribution | 3060 | 2201 | (297) | 4964 |
| **Total deferred tax assets** | **3060** | **2201** | **(297)** | **4964** |
| Deferred tax obligations on fair value of financial assets | 20840 | 2176 | (91) | 22925 |
| **Total deferred tax liabilities** | **20840** | **2176** | **(91)** | **22925** |
| **Total net deferred tax assets (liabilities)** | **(17780)** | **25** | **(206)** | **(17961)** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated** | 12/31/2025 | Constitution | Realization<br> /(Write-off) | 03/31/2026 |
| Temporary differences | 13504 | 895 | (177) | 14222 |
| Adjustment to fair value of financial assets recorded in other comprehensive income | 8874 | 9124 | (2245) | 15753 |
| Tax loss and negative basis of social contribution | 70047 | 55231 | (964) | 124314 |
| **Total deferred tax assets** | **92425** | **65250** | **(3386)** | **154289** |
| Deferred tax obligations on fair value of financial assets | 169272 | 72755 | (19435) | 222592 |
| Deferred IRPJ and CSLL on revenue on the cash basis | 6824 | 3912 | (2704) | 8032 |
| **Total deferred tax liabilities** | **176096** | **76667** | **(22139)** | **230624** |
| **Total net deferred tax assets and (liabilities)** | **(83671)** | **(11417)** | **18753** | **(76335)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated** | 12/31/2024 | Constitution | Realization<br> /(Write-off) | 03/31/2025 |
| Temporary differences | 33178 | 1459 | (8674) | 25963 |
| Adjustment to fair value of financial assets recorded in other comprehensive income | 7626 | 5786 | (4893) | 8519 |
| Tax loss and negative basis of social contribution | 54835 | 31021 | (21408) | 64448 |
| **Total deferred tax assets** | **95639** | **38266** | **(34975)** | **98930** |
| Deferred tax obligations on fair value of financial assets | 141816 | 40228 | (31908) | 150136 |
| Deferred IRPJ and CSLL on revenue on the cash basis | 6283 | 3714 | (2324) | 7673 |
| **Total deferred tax liabilities** | **148099** | **43942** | **(34232)** | **157809** |
| **Total net deferred tax assets and (liabilities)** | **(52460)** | **(5676)** | **(743)** | **(58879)** |

---

**18. Operating segments**

The Group has a single reportable segment as of March 31, 2026 and December 31, 2025. This segment offers investment banking services, which are administered and managed according to the products offered. Thus, there are no differences from the last consolidated annual financial statements in terms of the segmentation basis.

**19. Other information**

**a. Guarantees, endorsements, and sureties**

---

| | | |
|:---|:---|:---|
|  | 03/31/2026 | 12/31/2025 |
| Bank guarantees provided | 170042 | 158899 |
| Provision for financial guarantees provided | (192) | (197) |
| **Total** | **169850** | **158702** |

---

**b. Contingencies**

**Tax provision**

In the tax level, there are no lawsuits whose risk of loss is probable or possible in the period March 31, 2026 and year ended December 31, 2025, respectively.

**Civil provision**

In the civil level, there are no lawsuits whose risk of loss is probable or possible in the period March 31, 2026 and year ended December 31, 2025, respectively.

**Labor provision**

As of March 31, 2026, the labor lawsuits classified by Management and our legal advisors as probable losses are recorded in the amount of R$568 (R$556 as of December 31, 2025). There are no labor lawsuits classified as possible loss in the period ended March 31, 2026 and the year ended December 31, 2025, respectively.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**c. Third party fund management (unaudited)**

The assets under management and the assets under advisory services managed by the Company are shown below:

---

| | | |
|:---|:---|:---|
|  | Amount under management | Amount under management |
| Type | 03/31/2026 | 12/31/2025 |
| FIM – Multimarket Investment Fund | 2354999 | 2107961 |
| Fundo de Investimento em Participações | 657492 | 630725 |
| International Investment Fund | 693306 | 699269 |
| Domestic Managed Portfolios | 400460 | 308589 |
| International Managed Portfolios | 1996840 | 2194309 |

---

**d. New and revised CPCs / IFRSs and laws issued and not yet applicable**

The following amendments to standards were issued by the IASB but are not effective for the quarter ended March 31, 2026. The early adoption of pronouncements, although encouraged by the IASB, is not allowed in Brazil by the Accounting Pronouncement Committee (CPC). At the date of authorization of these financial statements, the Group has not adopted the new and revised IFRSs/CPCs below.

● **CPC 51 / IFRS 18 "Presentation and disclosure in financial statements":** IFRS 18 replaces IAS 1 – Presentation of Financial Statements, carrying over several unchanged requirements from IAS 1 (equivalent to CPC 26) and supplementing them with the new requirements. In addition, some paragraphs of IAS 1 have been moved to IAS 8 – Accounting Policies, Changes in Estimates and Errors and IFRS 7 – Financial Instruments: Disclosures. The IASB has also implemented minor changes to IAS 7 – Statement of Cash Flows and IAS 33 – Earnings per Share.

The new requirements of CPC 51/IFRS 18 are:

Present specific categories and subtotals defined in the statement of profit or loss;

- Present disclosures on the performance measures defined by Management (MPMs - Management-defined Performance Measures) in the notes to the financial statements;

- Improvements linked to information aggregation and disaggregation requirements.

The Group must adopt CPC 51 / IFRS 18 for annual reporting periods beginning on or after January 1, 2027. The amendments to IAS 7 and IAS 33, as well as the revised IAS 8 and IFRS 7, become effective when the Group applies CPC 51 / IFRS 18.

This pronouncement requires retrospective application with specific transition provisions. The Accounting Pronouncement Committee in Brazil approved on October 10, 2025, the mandatory adoption of the technical pronouncement through CPC 51 – Presentation and Disclosure in Financial Statements, which corresponds to the international Pronouncement IFRS 18 – Presentation and Disclosure in Financial Statements.

The Company's Management is in the process of assessing the potential effects and impacts of the pronouncement on the primary financial statements and respective disclosures.

● **CPC 45 / IFRS 19 "Subsidiaries without public accountability":** this pronouncement allows an eligible subsidiary to provide reduced disclosures when applying IFRS Accounting Standards in its financial statements. The new pronouncement must not have a significant impact on BR Partners' parent company and consolidated financial statements.

These new changes should not impact the Group's parent company and consolidated financial statements.

● **The Constitutional Amendment 132/2023 and the Complementary Law 214/2025** established the Tax Reform in Brazil, with a transition period starting in 2026 and concluding by 2033. The new model replaces the taxes PIS, Cofins, ICMS, ISS, and part of IPI with three new taxes, namely CBS, IBS and IS.

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**20. Financial instruments – Fair value**

**i. Accounting classification and fair values**

Fair value is classified for by the Company in accordance with the evaluation method of financial instruments. The different levels were defined as follow:

● Level 1: prices quoted (not adjusted) in active markets for assets and liabilities defined;

● Level 2: the evaluation uses information, in addition to quoted prices included in Level 1, information included in level 1 that are observable in the market for the asset or liability, either directly (prices) or indirectly (derived from prices);

● Level 3: the evaluation uses significant information which is not based on observable market data, i.e., non-observable inputs built by the Company's Management.

A summary of the fair value hierarchy of assets and liabilities at fair value, classified according to the Company's pricing methodology is presented below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Parent Company** | Level 1 | Level 2 | Level 3 | 03/31/2026 |
| *Financial assets at fair value through profit or loss* |  |  |  |  |
| - Investment fund quotas |  |  | 97251 | 97251 |
| - Derivative financial instruments |  | 1584 |  | 1584 |
| **Total** |  | **1584** | **97251** | **98835** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Parent Company** | Level 1 | Level 2 | Level 3 | 12/31/2025 |
| *Financial assets at fair value through profit or loss* |  |  |  |  |
| - Investment fund quotas |  |  | 89557 | 89557 |
| - Derivative financial instruments |  | 3011 |  | 3011 |
| **Total** |  | **3011** | **89557** | **92568** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated** | Level 1 | Level 2 | Level 3 | 03/31/2026 |
| *Financial assets at fair value through profit or loss* |  |  |  |  |
| - Government bonds | 12988707 |  |  | 12988707 |
| - Private securities |  | 172356 |  | 172356 |
| - Investment fund quotas |  |  | 97251 | 97251 |
| - Derivative financial instruments | 38507 | 917682 | 169995 | 1126184 |
| *Financial assets at fair value through other comprehensive income* |  |  |  |  |
| - Private securities |  | 1180174 |  | 1180174 |
| - Investment fund quotas |  | 1778922 |  | 1778922 |
| **Total assets at fair value** | **13027214** | **4049134** | **267246** | **17343594** |
| *Financial liabilities at fair value through profit or loss* |  |  |  |  |
| - Liability for the sale of financial instruments | 1268 |  |  | 1268 |
| - Derivative financial instruments | 14114 | 324428 | 46385 | 384927 |
| **Total liabilities at fair value** | **15382** | **324428** | **46385** | **386195** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Consolidated** | Level 1 | Level 2 | Level 3 | 12/31/2025 |
| *Financial assets at fair value through profit or loss* |  |  |  |  |
| - Government bonds | 11369995 |  |  | 11369995 |
| - Private securities |  | 174349 |  | 174349 |
| - Investment fund quotas | 78749 |  | 89557 | 168306 |
| - Derivative financial instruments | 15326 | 868828 | 139195 | 1023349 |
| *Financial assets at fair value through other comprehensive income* |  |  |  |  |
| - Private securities |  | 1385470 |  | 1385470 |
| - Investment fund quotas | 259072 | 1664213 |  | 1923285 |
| **Total assets at fair value** | **11723142** | **4092860** | **228752** | **16044754** |
| *Financial liabilities at fair value through profit or loss* |  |  |  |  |
| - Liability for the sale of financial instruments | 33222 |  |  | 33222 |
| - Derivative financial instruments | 29376 | 294129 | 20946 | 344451 |
| **Total liabilities at fair value** | **62598** | **294129** | **20946** | **377673** |

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**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

**ii. Valuation techniques and unobservable assumptions**

**-** **Financial assets measured at fair value - Level 2**

● **Financial assets at fair value through profit or loss and other comprehensive income:** 

The fair value of government bonds is determined through mark-to-market (MtM) using the current sector rates and curves. For private securities, the fair value is calculated by projecting the future value — based on the contractual indexes (Prefixed, CDI, IPCA, IGPM) — discounted to present value using the respective market curves until maturity.

● **Derivative financial instruments (Swap and NDF):** 

The fair value of Swaps is determined by the present value of estimated future cash flows, using interbank interest rates and market future prices. The calculation includes credit risk adjustments for the counterparty and the Group itself (CDS spreads or traded bonds). In the case of cash flow Swaps, the MtM consolidates the present value of each parent company installment individually. For NDFs, the fair value is obtained by projecting the future price of the underlying asset until maturity, discounted to present value using the current market reference rates.

**-** **Financial asset measured at fair value - Level 3**

● **Equity investment fund quotas:** The fair value is measured by the present value of the expected future payments, using discount rates adjusted for risk. For investments in real estate and commercial equity, the model is based on unobservable assumptions (Level 3), such as projections of results, growth, and inflation. The evaluation is sensitive to variations: higher cash flows or lower discount rates increase the estimated fair value, and vice versa.

● **Derivative financial instruments (options and swap):** The fair value of options is composed of the intrinsic value (difference between the asset price and the strike price) and the time value (potential for appreciation until expiration). The measurement uses unobservable data (Level 3), such as expected volatility, interest rates, dividends, and internal funding rates. The award is sensitive to variations in these inputs: higher volatility, time to expiration, or dividends generally increase the fair value, while the time value converges to zero at expiration. The adjustments to fair value arising from the financing costs of certain swap contracts reflect changes in the fair value of said contracts given their cash flow profile over time and/or the guarantees provided. The unobservable data used for the swaps is related to the internal funding rate.

**iii. Reconciliation of Level 3 fair values**

The following table presents a reconciliation of the opening and closing balances of financial instruments classified as Level 3 at fair value:

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| | | | |
|:---|:---|:---|:---|
| **a. Investment fund quotas** | FVTPL <br> Outlet | FVTPL<br> BR FIM | Total |
| **December 31, 2024** | **87955** | **29940** | **117895** |
| Principal amortization | (13089) |  | (13089) |
| Receipt of interest | (20140) |  | (20140) |
| Fair value increase | 948 | 3943 | 4891 |
| **December 31, 2025** | **55674** | **33883** | **89557** |
| Fair value increase | 5354 | 2340 | 7694 |
| **March 31, 2026** | **61028** | **36223** | **97251** |

---

**BRBI BR Partners S.A.**

Notes to the financial statements

*(In thousands of reais)*

 **b. Derivative financial instruments**

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| | | |
|:---|:---|:---|
|  | FVTPL - Options | FVTPL - Options |
| **Options** | Assets | Liabilities |
| **December 31, 2024** | **18817** | **(17837)** |
| Premiums paid (received) | 106238 | (4522) |
| Fair value increase (decrease) | (18816) | 17837 |
| **December 31, 2025** | **106239** | **(4522)** |
| Premiums paid (received) | 241065 | (177321) |
| Fair value increase (decrease) | (214738) | 155173 |
| **March 31, 2026** | **132566** | **(26670)** |

---

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| | | |
|:---|:---|:---|
| **Swap** | Assets | Liabilities |
| Cost value | (37795) | (19702) |
| Fair value adjustment | 39353 | (8250) |
| Fair value adjustment (level 3) | 31443 | 11528 |
| Credit Valuation Adjustment | (45) |  |
| **Balance at December 31, 2025** | **32956** | **(16424)** |
| Cost value | (50404) | (24772) |
| Fair value adjustment | 48610 | (5303) |
| Fair value adjustment (level 3) | 39249 | 10360 |
| Credit Valuation Adjustment | (26) |  |
| **Balance at March 31, 2026** | **37429** | **(19715)** |
| Change in funding valuation adjustment | 7806 | (1168) |
| **Total of level 3 derivative financial instruments at December 31, 2025** | **139195** | **(20946)** |
| **Total of level 3 derivative financial instruments at March 31, 2026** | **169995** | **(46385)** |

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**iv. Sensitivity analysis of financial assets classified as Level 3**

Sensitivity analysis for financial instruments classified as Level 3 is essential to understand the uncertainty associated with fair value estimates. These instruments are measured based on unobservable market data, which significantly implies a high level of judgment and estimation by management.

For the performance of the analysis, we consider the main assumptions that influence fair value, such as discount rates, volatility, average internal funding rates and other factors specific to financial instruments. For example, a change in the discount rate can have a substantial impact on fair value, reflecting changes in market conditions or economic expectations.

Furthermore, the volatility of the prices of the underlying assets can directly affect the valuation of financial instruments classified as Level 3. Greater volatility can increase uncertainty and, consequently, the range of possible changes in fair value.

Other factors, such as changes in economic conditions or the regulatory environment, can also influence fair value estimates. Management monitors these matters and adjusts the valuation as necessary to make sure that the values have been adequately reported reflecting market conditions and associated risks, as well as the interrelationships that exist between these variables and the fair value of the financial instruments.

During the period ended March 31, 2026 and 2025, there were no changes in the measurement method of financial assets and liabilities that would imply the reclassification of assets and liabilities between different levels of the fair value hierarchy.