# EDGAR Filing Document

**Accession Number:** 0001691493
**File Stem:** 0001292814-25-003063
**Filing Date:** 2025-8
**Character Count:** 192473
**Document Hash:** ceb35abf7ae892b368cf9a29696bd266
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001292814-25-003063.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001292814-25-003063

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nu Holdings Ltd.
- **CENTRAL INDEX KEY:** 0001691493
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 981302320
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41129
- **FILM NUMBER:** 251220774

**BUSINESS ADDRESS:**
- **STREET 1:** RUA CAPOTE VALENTE, 39
- **STREET 2:** PINHEIROS
- **CITY:** SAO PAULO, SP
- **STATE:** D5
- **ZIP:** 05409-000
- **BUSINESS PHONE:** 888-888-8888

**MAIL ADDRESS:**
- **STREET 1:** RUA CAPOTE VALENTE, 39
- **STREET 2:** PINHEIROS
- **CITY:** SAO PAULO, SP
- **STATE:** D5
- **ZIP:** 05409-000

**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 August, 2025**

Commission File Number 001-41129

**Nu Holdings Ltd.**

(Exact name of registrant as specified in its charter)

**Nu Holdings Ltd.**

(Translation of Registrant's name into English)

**Campbells Corporate Services Limited, Floor 4, Willow House, Cricket Square, KY1-9010 Grand Cayman, Cayman Islands**

**+1 345 949 2648**

(Address of principal executive office)

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

Form 20-F (**X**) Form 40-F<u> </u>

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes No (**X**)

![](nufs2q256k_001.jpg)

**Contents**

---

| | |
|:---|:---|
|  | **Page** |
| [Unaudited Interim Condensed Consolidated Statements of Income](#a_001) | [5](#a_001) |
| [Unaudited Interim Condensed Consolidated Statements of Comprehensive Income](#a_002) | [6](#a_002) |
| [Unaudited Interim Condensed Consolidated Statements of Financial Position](#a_003) | [7](#a_003) |
| [Unaudited Interim Condensed Consolidated Statements of Changes in Equity](#a_004) | [9](#a_004) |
| [Unaudited Interim Condensed Consolidated Statements of Cash Flows](#a_005) | [11](#a_005) |
| [Notes to the Unaudited Interim Condensed Consolidated Financial Statements](#a_006) | [13](#a_006) |

---

KPMG Auditores Independentes Ltda.

Rua Verbo Divino – 1400 – 1º andar – Granja Julieta – São Paulo

04719-002 - São Paulo/SP - Brasil

Caixa Postal 79518 - São Paulo/SP - Brasil

Telefone +55 (11) 3940-1500

kpmg.com.br

**Independent Auditors' report on review of Interim Condensed Consolidated Financial Statements**

To Board of Directors and Shareholders of

**Nu Holdings Ltd.**

Cayman Islands

**Introduction**

We have reviewed the accompanying interim condensed consolidated statements of financial position of Nu Holdings Ltd. ("Company") as of June 30, 2025, the condensed consolidated statements of profit or loss and comprehensive income or loss for the three-month and six-month period ended, changes in equity and cash flows for the three-month and six-month period then ended, and notes to the interim condensed consolidated financial statements.

Management is responsible for the preparation and presentation of these interim condensed consolidated financial statements in accordance with IAS 34, Interim Financial Reporting' issued by the International Accounting Standards Board (IASB). Our responsibility is to draw a conclusion on these interim-condensed consolidated financial statements based on our review.

**Scope of review**

We conducted our review in accordance with Brazilian and International Standards on Review (NBC TR 2410 - *Revisão de Informações Intermediárias Executada pelo Auditor da Entidade* and ISRE 2410 - *Review of Interim Financial Information Performed by the Independent Auditor of the Entity*, respectively). A review of interim financial information consists of making inquiries, primarily of people responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;KPMG Auditores Independentes Ltda., uma sociedade simples brasileira, de responsabilidade limitada e firma-membro da organização global KPMG de firmas-membro independentes licenciadas da KPMG International Limited, uma empresa inglesa privada de responsabilidade limitada. | &nbsp;&nbsp;&nbsp;&nbsp;*KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.* |

---

**Conclusion**

Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed consolidated financial statements as of June 30, 2025, are not prepared, in all material respects, in accordance with IAS 34, 'Interim Financial Reporting'.

São Paulo, August 14, 2025.

KPMG Auditores Independentes Ltda.

CRC 2SP-027685/O-0 F SP

Rodrigo de Mattos Lia

Accountant CRC 1SP252418/O-3

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;KPMG Auditores Independentes Ltda., uma sociedade simples brasileira, de responsabilidade limitada e firma-membro da organização global KPMG de firmas-membro independentes licenciadas da KPMG International Limited, uma empresa inglesa privada de responsabilidade limitada. | &nbsp;&nbsp;&nbsp;&nbsp;*KPMG Auditores Independentes Ltda., a Brazilian limited liability company and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.* |

---

**Unaudited Interim Condensed Consolidated Statements of Income**

**For the three and six-month periods ended June 30, 2025 and 2024**

***(In thousands of U.S. Dollars, except earnings per share)***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | <br>**Note** | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| Interest income and gains net of losses on financial instruments | **6** | 3128743 | 2383307 | 5860879 | 4663555 |
| Fee and commission income | **6** | 539727 | 465384 | 1055280 | 921037 |
| **Total revenue** |  | **3668470** | **2848691** | **6916159** | **5584592** |
| Interest and other financial expenses | **6** | (1029989) | (665191) | (1926193) | (1325906) |
| Transactional expenses | **6** | (78311) | (64310) | (136799) | (127258) |
| Credit loss allowance expenses | **7** | (1012192) | (759765) | (1985736) | (1590484) |
| **Total cost of financial and transactional services provided** |  | **(2120492)** | **(1489266)** | **(4048728)** | **(3043648)** |
| **Gross profit** |  | **1547978** | **1359425** | **2867431** | **2540944** |
| **Operating (expenses) income** |  |  |  |  |  |
| Customer support and operations | **8** | (161434) | (162917) | (312909) | (313529) |
| General and administrative expenses | **8** | (341253) | (326555) | (631076) | (652607) |
| Marketing expenses | **8** | (67347) | (47751) | (111444) | (94578) |
| Other expenses | **8** | (112289) | (98647) | (220284) | (182307) |
| Other income | **8** | 14732 | 1866 | 84872 | 6035 |
| **Total operating (expenses) income** |  | **(667591)** | **(634004)** | **(1190841)** | **(1236986)** |
| **Income of share of loss in associates** | **18** | **(1025)** | **—** | **(2155)** | **—** |
| **Profit before income taxes** |  | **879362** | **725421** | **1674435** | **1303958** |
| **Income taxes** | **30** | **(242375)** | **(238149)** | **(480240)** | **(437872)** |
| **Net income for the period** |  | **636987** | **487272** | **1194195** | **866086** |
| *Net income attributable to shareholders of the parent company* |  | *636838* | *487272* | *1194041* | *866086* |
| *Net income attributable to non-controlling interests* |  | *149* | *—* | *154* | *—* |
| **Earnings per share – Basic** | **9** | **0.1320** | **0.1018** | **0.2476** | **0.1812** |
| **Earnings per share – Diluted** | **9** | **0.1300** | **0.0998** | **0.2439** | **0.1776** |
| **Weighted average number of outstanding shares – Basic<br> (in thousands of shares)** | **9** | **4825586** | **4788239** | **4821579** | **4780762** |
| **Weighted average number of outstanding shares – Diluted (in thousands of shares)** | **9** | **4899768** | **4880953** | **4897849** | **4875519** |

---

*The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.*

**Unaudited Interim Condensed Consolidated Statements of Comprehensive Income**

**For the three and six-month periods ended June 30, 2025 and 2024**

***(In thousands of U.S. Dollars)***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | <br>**Note** | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| **Net income for the period** |  | **636987** | **487272** | **1194195** | **866086** |
| **Other comprehensive income:** |  |  |  |  |  |
| Effective portion of changes in fair value |  | 6703 | 30117 | 15036 | 75625 |
| Changes in fair value reclassified to profit or loss |  | (14093) | (8871) | (49712) | (24369) |
| Deferred income taxes |  | 1443 | (9084) | 6366 | (12392) |
| **Cash flow hedge** | **20** | **(5947)** | **12162** | **(28310)** | **38864** |
| Changes in fair value |  | (6917) | (11770) | 1404 | (9550) |
| Deferred income taxes |  | 3526 | 1455 | (585) | (84) |
| **Financial assets at fair value through other comprehensive income** |  | **(3391)** | **(10315)** | **819** | **(9634)** |
| **Currency translation on foreign entities** |  | **316961** | **(420428)** | **682620** | **(492397)** |
| **Total other comprehensive income (loss) that are or may be reclassified subsequently to profit or loss** |  | **307623** | **(418581)** | **655129** | **(463167)** |
| Changes in fair value - own credit adjustment |  |  | (21) | 20 | (39) |
| **Total other comprehensive income (loss) that will not be reclassified to profit or loss subsequently** |  | **—** | **(21)** | **20** | **(39)** |
| **Total other comprehensive income (loss), net of tax** |  | **307623** | **(418602)** | **655149** | **(463206)** |
| **Total comprehensive income for the period, net of tax** |  | **944610** | **68670** | **1849344** | **402880** |
|  *Total comprehensive income attributable to shareholders*<br> *of the parent company* |  | *944461* | *68670* | *1849190* | *402880* |
|  *Total comprehensive income attributable*<br> *to non-controlling interests* |  | *149* | *—* | *154* | *—* |

---

*The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.*

**Unaudited Interim Condensed Consolidated Statements of Financial Position**

**As of June 30, 2025 and December 31, 2024**

***(In thousands of U.S. Dollars)***

---

| | | | |
|:---|:---|:---|:---|
|  | **Note** | **06/30/2025** | **12/31/2024** |
| **Assets** |  |  |  |
| Cash and cash equivalents | **11** | 13269017 | 9185742 |
| Financial assets at fair value through profit or loss |  | 541468 | 741042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Securities* | **12** | *397542* | *665242* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Derivative financial instruments* | **20** | *143583* | *75464* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Collateral for credit card operations* | **23** | *343* | *336* |
| Financial assets at fair value through other comprehensive income |  | 10830505 | 9913517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Securities* | **12** | *10830505* | *9913517* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial assets at amortized cost |  | 33707492 | 26701505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Credit card receivables* | **13** | *15129529* | *12259276* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Loans to customers* | **14** | *7870252* | *5321885* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Compulsory and other deposits at central banks* | **15** | *8210232* | *6743336* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Other receivables* | **16** | *929533* | *1413443* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Other financial assets* |  | *160328* | *78147* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Securities* | **12** | *1407618* | *885418* |
| Other assets | **17** | 1257643 | 663578 |
| Deferred tax assets | **30** | 2055502 | 1818339 |
| Investments in associates | **18** | 97210 | 99365 |
| Right-of-use assets |  | 20754 | 20344 |
| Property, plant and equipment |  | 25913 | 25879 |
| Intangible assets | **19** | 514293 | 347616 |
| Goodwill | **19** | 410347 | 414287 |
| **Total assets** |  | **62730144** | **49931214** |

---

**Unaudited Interim Condensed Consolidated Statements of Financial Position**

**As of June 30, 2025 and December 31, 2024**

***(In thousands of U.S. Dollars)***

---

| | | | |
|:---|:---|:---|:---|
|  | **Note** | **06/30/2025** | **12/31/2024** |
| **Liabilities** |  |  |  |
| Financial liabilities at fair value through profit or loss |  | 124501 | 32329 |
| &nbsp;&nbsp;*Derivative financial instruments* | **20** | *124501* | *32329* |
| Financial liabilities at amortized cost |  | 51140501 | 40227546 |
| &nbsp;&nbsp;*Deposits* | **22** | *36640156* | *28855065* |
| &nbsp;&nbsp;*Payables to network* | **23** | *11160245* | *9333541* |
| &nbsp;&nbsp;*Borrowings and financing* | **24** | *2275618* | *1730357* |
| &nbsp;&nbsp;*Repurchase agreements* | **21** | *1064482* | *308583* |
| Salaries, allowances and social security contributions |  | 235251 | 180181 |
| Tax liabilities | **30** | 718015 | 1102086 |
| Lease liabilities |  | 27514 | 26197 |
| Provision for lawsuits and administrative proceedings | **25** | 27878 | 22551 |
| Deferred income | **26** | 106299 | 71636 |
| Other liabilities | **27** | 774069 | 621612 |
| **Total liabilities** |  | **53154028** | **42284138** |
| **Equity** |  |  |  |
| Share capital | **31** | 84 | 84 |
| Share premium reserve | **31** | 5055523 | 5053776 |
| Accumulated gains | **31** | 4692246 | 3420596 |
| Other comprehensive income (loss) | **31** | (173018) | (828167) |
| **Equity attributable to shareholders of the parent company** |  | **9574835** | **7646289** |
| Equity attributable to non-controlling interests |  | 1281 | 787 |
| **Total equity** |  | **9576116** | **7647076** |
| **Total liabilities and equity** |  | **62730144** | **49931214** |

---

*The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.*

**Unaudited Interim Condensed Consolidated Statements of Changes in Equity**

**For the six-month period ended June 30, 2025 and 2024**

***(In thousands of U.S. Dollars)***

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** |  |  |
|  | | | | | **Other comprehensive income (loss)** | **Other comprehensive income (loss)** | **Other comprehensive income (loss)** | **Other comprehensive income (loss)** | | | |
|  | <br>**Note** | <br>**Share**<br> **capital** | <br>**Share**<br> **premium**<br> **reserve** | <br>**Accumulated**<br> **gains** | **Translation**<br> **reserve** | **Cash flow**<br> **hedge**<br> **reserve** | **Financial**<br> **Assets**<br> **at FVTOCI** | **Own credit**<br> **revaluation**<br> **reserve** | **Total** | **Total non-controlling**<br> **interests** | **Total**<br> **equity** |
| **Balances as of December 31, 2024** |  | **84** | **5053776** | **3420596** | **(862977)** | **22750** | **11582** | **478** | **7646289** | **787** | **7647076** |
| Net income for the period |  |  |  | 1194041 |  |  |  |  | 1194041 | 154 | 1194195 |
| Share-based compensation, net of shares withheld for employee taxes | **10** |  |  | 76293 |  |  |  |  | 76293 |  | 76293 |
| Shares issued to service providers | **31** |  |  | 1316 |  |  |  |  | 1316 |  | 1316 |
| Shares issued on business acquisition | **31** |  | 779 |  |  |  |  |  | 779 |  | 779 |
| Stock options exercised | **31** |  | 968 |  |  |  |  |  | 968 |  | 968 |
| Increase in non-controlling interests |  |  |  |  |  |  |  |  |  | 340 | 340 |
| Other comprehensive income, net of tax | **31** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;*Cash flow hedge* |  | *-* | *-* | *-* | *-* | *(28310)* | *-* | *-* | *(28310)* | *-* | *(28310)* |
| &nbsp;&nbsp; *Fair value changes –*<br> *financial assets at FVTOCI* |  | *-* | *-* | *-* | *-* | *-* | *819* | *-* | *819* | *-* | *819* |
| &nbsp;&nbsp;*Currency translation on foreign entities* |  | *-* | *-* | *-* | *682620* | *-* | *-* | *-* | *682620* | *-* | *682620* |
| &nbsp;&nbsp;*Own credit adjustment* |  | *-* | *-* | *-* | *-* | *-* | *-* | *20* | *20* | *-* | *20* |
| **Balances as of June 30, 2025** |  | **84** | **5055523** | **4692246** | **(180357)** | **(5560)** | **12401** | **498** | **9574835** | **1281** | **9576116** |

---

**Unaudited Interim Condensed Consolidated Statements of Changes in Equity**

**For the six-month period ended June 30, 2025 and 2024**

***(In thousands of U.S. Dollars)***

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** | **Attributable to shareholders of the parent company** |
|  | | | | | **Other comprehensive income (loss)** | **Other comprehensive income (loss)** | **Other comprehensive income (loss)** | **Other comprehensive income (loss)** | |
|  | <br>**Note** | <br>**Share**<br> **capital** | <br>**Share**<br> **premium**<br> **reserve** | <br>**Accumulated**<br> **gains (losses)** | **Translation**<br> **reserve** | **Cash flow**<br> **hedge**<br> **reserve** | **Financial**<br> **Assets**<br> **at FVTOCI** | **Own credit**<br> **revaluation**<br> **reserve** | **Total** <br> **equity** |
| **Balances as of December 31, 2023** |  | **84** | **4972922** | **1276949** | **135497** | **12417** | **7998** | **518** | **6406385** |
| Net income for the period |  |  |  | 866086 |  |  |  |  | 866086 |
| Share-based compensation, net of shares withheld for employee taxes | **10** |  |  | 110618 |  |  |  |  | 110618 |
| Shares issued to service providers | **31** |  |  | 1110 |  |  |  |  | 1110 |
| Stock options exercised | **31** |  | 2447 |  |  |  |  |  | 2447 |
| Other comprehensive income or loss, net of tax | **31** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;*Cash flow hedge* |  | *-* | *-* | *-* | *-* | *38864* | *-* | *-* | *38864* |
| &nbsp;&nbsp;*Fair value changes - financial assets at FVTOCI* |  | *-* | *-* | *-* | *-* | *-* | *(9634)* | *-* | *(9634)* |
| &nbsp;&nbsp;*Currency translation on foreign entities* |  | *-* | *-* | *-* | *(492397)* | *-* | *-* | *-* | *(492397)* |
| &nbsp;&nbsp;*Own credit adjustment* |  | *-* | *-* | *-* | *-* | *-* | *-* | *(39)* | *(39)* |
| **Balances as of June 30, 2024** |  | **84** | **4975369** | **2254763** | **(356900)** | **51281** | **(1636)** | **479** | **6923440** |

---

*The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.*

**Unaudited Interim Condensed Consolidated Statements of Cash Flows**

**For the six-month period ended June 30, 2025 and 2024**

***(In thousands of U.S. Dollars)***

---

| | | | |
|:---|:---|:---|:---|
|  | **Note** | **06/30/2025** | **06/30/2024** |
| **Cash flows from operating activities** |  |  |  |
| **Reconciliation of net income to net cash flows from operating activities:** |  |  |  |
| Net Income for the period |  | 1194195 | 866086 |
| **Adjustments:** |  |  |  |
| Depreciation and amortization | **8** | 44392 | 36798 |
| Credit loss allowance expenses | **7** | 2189754 | 1718490 |
| Deferred income taxes | **30** | (40329) | (401179) |
| Provision for lawsuits and administrative proceedings | **25** | 2122 | 10234 |
| Unrealized (gains) losses on financial instruments |  | 56662 | (26457) |
| Interest accrued |  | 106059 | 72938 |
| Share-based compensation |  | 134836 | 158848 |
| Income of share of loss in associates | **18** | 2155 |  |
| Others |  | 13492 | 2327 |
|  |  | **3703338** | **2438085** |
| **Changes in operating assets and liabilities:** |  |  |  |
| Securities |  | (1030858) | (165656) |
| Credit card receivables |  | (5562220) | (2444542) |
| Loans to customers |  | (5072200) | (2899339) |
| Other receivables |  | 456906 | 809346 |
| Compulsory and other deposits at central banks |  | (1384320) | 859724 |
| Other assets |  | (638178) | 426486 |
| Deposits |  | 7346845 | 1691175 |
| Payables to network |  | 1672174 | (951820) |
| Deferred income |  | 32712 | (6231) |
| Other liabilities |  | 1741209 | 716369 |
| Interest paid |  | (29312) | (56364) |
| Income tax paid |  | (1322166) | (1058283) |
| Interest received |  | 3726102 | 2738859 |
| **Cash flows generated from (used in) operating activities** |  | **3640032** | **2097809** |

---

**Unaudited Interim Condensed Consolidated Statements of Cash Flows**

**For the six-month period ended June 30, 2025 and 2024**

***(In thousands of U.S. Dollars)***

---

| | | | |
|:---|:---|:---|:---|
|  | **Note** | **06/30/2025** | **06/30/2024** |
| **Cash flows in investing activities** |  |  |  |
| Acquisition of property, plant and equipment |  | (4394) | 3401 |
| Acquisition and development of intangible assets |  | (148499) | (43611) |
| **Cash flow generated from (used in) investing activities** |  | **(152893)** | **(40210)** |
| **Cash flows in financing activities** |  |  |  |
| Proceeds from borrowings and financing | **24** | 636307 | 813014 |
| Payments of borrowings and financing | **24** | (368942) | (93964) |
| Lease payments |  | (3050) | (3567) |
| Exercise of stock options | **31** | 968 | 2447 |
| **Cash flows generated from (used in) financing activities** |  | **265283** | **717930** |
| **Change in cash and cash equivalents** |  | **3752422** | **2775529** |
| **Cash and cash equivalents** |  |  |  |
| Cash and cash equivalents - beginning of the period | **11** | 9185742 | 5923440 |
| Foreign exchange rate changes on cash and cash equivalents |  | 330853 | (168586) |
| Cash and cash equivalents - end of the period | **11** | 13269017 | 8530383 |
| **Increase (decrease) in cash and cash equivalents** |  | **3752422** | **2775529** |
| **Non-cash transactions** |  |  |  |
| Shares issued to service providers |  | 1316 | 1110 |

---

*The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.*

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**Nu Holdings Ltd.**

**Notes to the Unaudited Interim Condensed**

**Consolidated Financial Statements**

***(In thousands of U.S. Dollars, unless otherwise stated)***

**1. OPERATIONS**

Nu Holdings Ltd. ("Company" or "Nu Holdings") was incorporated as an exempted Company under the Companies Law of the Cayman Islands on February 26, 2016. The address of the Company's registered office is Willow House, 4<sup>th</sup> floor, Cricket Square, Grand Cayman - Cayman Islands. Nu Holdings has no operating activities with customers.

The Company's shares are publicly traded on the New York Stock Exchange ("NYSE") under the symbol "NU". The Company holds investments in several operating entities and, as of June 30, 2025, its significant operating subsidiaries were:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Nu Pagamentos S.A. - Instituição de Pagamento ("Nu Pagamentos")** is an indirect subsidiary
domiciled in Brazil. Nu Pagamentos is engaged in the issuance and administration of credit cards, payment transfers through a prepaid
account, and participation in other companies as a partner or shareholder. Its main products include a Mastercard international credit
card, managed via a smartphone app, and the NuAccount, a 100% digital smartphone app, maintenance-free prepaid account which also includes
features of a traditional bank account, such as PIX (electronic transfers), bill payments, and ATM withdrawals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Nu Financeira S.A. – SCFI ("Nu Financeira")** is an indirect subsidiary domiciled
in Brazil, with personal loans and retail deposits as its main products. It offers customizable loans with transparent terms and conditions
managed via a smartphone app, allowing 24/7 issuance, repayment, and prepayments through NuAccount. Additionally, Nu Financeira issues
Bank Deposit Receipts (RDB) to NuAccount holders with daily liquidity and a defined maturity date, and provides credit to Nu Pagamentos
credit card holders for overdue invoices and revolving credit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Nu Investimentos S.A. - Corretora de Títulos e Valores Mobiliários ("Nu Investimento")**,
previously known as Nu Invest Corretora de Valores S.A. ("Nu Invest"), is an indirect subsidiary acquired in June 2021, domiciled
in Brazil, and is a digital investment broker dealer in Brazil.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Nu México Financiera, S.A. de C.V., S.F.P. ("Nu Mexico Financiera")**, is an
indirect subsidiary domiciled in Mexico. Nu Mexico Financiera is engaged in the issuance and administration of credit cards and offers
deposits as its main products. Also, Nu Mexico Financeira provides customers in Mexico the opportunity to obtain loans. Customers also
have access to the NuAccount, a 100% digital prepaid account available via a smartphone app, which also includes features of a traditional
bank account. Additionally, on April 24, 2025, Nu Mexico Financiera received regulatory approval from the *Comisión Nacional Bancaria y de Valores* (CNBV), in coordination with Banxico and the Mexican Ministry of Finance (SHCP), to begin the process of converting
into a bank. By obtaining such license, the Group intends to expand its portfolio of credit and other financial products in Mexico.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Nu Colombia Compañía de Financiamiento S.A ("Nu Colombia")** is an indirect
subsidiary domiciled in Colombia. Nu Colombia is engaged in the issuance and administration of credit cards and NuAccount, which is a
100% digital pre-paid account offered via a smartphone app, which also includes features of a traditional bank account.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

The Company and its consolidated subsidiaries are referred to in these unaudited interim condensed consolidated financial statements as the "Group" or "Nu".

Nu's business plan provides for the continued growth of its Brazilian, Mexican, and Colombian operations, both through the expansion of its existing product lines, including, credit card, personal loans, investments, and insurance, as well as the introduction of new products. Accordingly, these unaudited interim condensed consolidated financial statements were prepared based on the assumption of the Group continuing as a going concern.

The Company's Board authorized the issuance of these unaudited interim condensed consolidated financial statements on August 14, 2025.

**Seasonality**

The Company's business is affected by customer behavior throughout the year and demonstrates seasonality effects. Historically, Nu benefits from higher purchase volume and related revenue in the fourth quarter of the year due to the holiday season. However, Nu's historical growth has masked this seasonality in the past, and may become more pronounced in the future. As a result of seasonality fluctuations caused by these and other factors, comparisons of the results of operations across different periods may not be accurate indicators of future performance. As the Company diversifies its business across product lines, seasonality may be reduced.

**2. STATEMENT OF COMPLIANCE**

These unaudited interim condensed consolidated financial statements do not include all the information required for a complete set of financial statements prepared in accordance with International Financial Reporting Standards – Accounting Standards as issued by International Accounting Standards Board (IFRS - Accounting Standards). However, selected condensed explanatory notes are included to explain events and transactions that are significant to understanding the changes in the Group's financial position and performance since the issuance of its last annual financial statements.

Certain repurchase agreements obligations have been reclassified for all periods presented to amortized cost which were previously presented at fair value through profit or loss. There was no measurement difference as a result of this change since fair value approximated amortized cost for these instruments.

The Group's unaudited interim condensed consolidated financial statements have been prepared in accordance with IAS 34 - Interim Financial Reporting issued by International Accounting Standards Board (IASB). Accordingly, this unaudited interim condensed consolidated financial statements should be read in conjunction with the annual consolidated financial statements for the year ended December 31, 2024 (the "Annual Financial Statements").

**a) Functional currency and foreign currency translation**

**i) Nu Holding's functional and presentation currency**

The presentation of the functional currency and foreign currency translation is described below.

The functional currency for Nu Holdings and the presentation currency of these unaudited interim condensed consolidated financial statements is the U.S. Dollar ("US$"). The functional currency of the Brazilian operating entities is the Brazilian real ("BRL"), for the Mexican entities, Mexican peso ("MXN") and for the Colombian entities, the Colombian peso ("COP").

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

The financial statements of the foreign subsidiaries held in functional currencies that are not US$ are translated into US$, and the exchange differences arising from the translation to US$ of the financial statements denominated in functional currencies other than the US$ are recognized in the consolidated statements of comprehensive income or loss (OCI) as an item that may be reclassified to profit or loss within "currency translation on foreign entities".

**b) New or revised accounting pronouncements adopted in 2025:**

The following new or revised accounting standards issued by IASB, were effective for the period covered by these unaudited interim condensed consolidated financial statements and had no significant impact.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-current Liabilities with Covenants (Amendments
to IAS 1);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Classification of Liabilities as Current
or Non-Current (Amendments to IAS 1);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Lease Liability in a Sale and Leaseback (Amendments
to IFRS 16);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Supplier Finance Arrangements (Amendments
to IAS 7 and IFRS 7)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• International Tax Reform — Pillar Two
Model Rules (Amendments to IAS 12).

Brazil adopted Pillar Two rules, specifically the Qualified Domestic Minimum Top-up Tax (QDMTT) through enactment of Law nº 15.079/2024 in December 2024, which is effective as of January 1, 2025. QDMTT determines that a minimum 15% corporate income rate tax should be paid in each jurisdiction in which multinational groups operate. The Group's operations in Brazil and the majority of Brazilian entities have a statutory corporate income tax rate of 40%, which exceeds the QDMTT standards, therefore no impact of Pillar Two is expected. There are no impacts related to Pillar Two for the other consolidated companies under Nu Holdings structure.

**c) Other new standards and interpretations issued but not yet effective:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Lack of Exchangeability (Amendments to IAS 21);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Classification and measurement of financial instruments (Amendments to IFRS 7 and IFRS 9).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annual Improvements to IFRS Accounting Standards:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ IFRS 1: Hedge accounting by a first-time adopter;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ IFRS 7: Gain or loss on derecognition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ IFRS 7: Disclosure of deferred difference between fair value and transaction price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ IFRS 7: Introduction and credit risk disclosures;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ IFRS 9: Lessee derecognition of lease liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ IFRS 9: Transaction price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ IFRS 10: Determination of a 'de facto agent';

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ IAS 7: Cost method.

Management does not expect the adoption of the amendments described above to have a significant impact, other than additional disclosures, on the Group's unaudited interim condensed consolidated financial statements.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Presentation and Disclosures in Financial
Statements (IFRS 18):

The new standard replaces IAS 1 - Presentation of Financial Statements and determines a new structure for the income statement by categorizing it into predefined sections: operating, investing, financing, discontinued operations, and income tax. It also requires the disclosure of management-defined performance measures (MPMs) in a single note within the financial statements. These amendments will take effect on January 1, 2027. The Group is reviewing the impacts of the new standard.

**3. BASIS OF CONSOLIDATION**

These unaudited interim condensed consolidated financial statements include the accounting balances of Nu Holdings and all those subsidiaries over which the Company exercises control, directly or indirectly. Control is achieved where the Company has (i) power over the investee; (ii) is exposed, or has rights, to variable returns from its involvement with the investee; and (iii) can use its power to affect its profits.

The Company re-assesses whether it maintains control of an investee if facts and circumstances indicate that there are changes to one or more of the three above mentioned elements of control.

The consolidation of a subsidiary begins when the Company obtains control over it and ceases when the Company loses control over it. Assets, liabilities, income, and expenses of a subsidiary acquired or disposed of during the reporting period are included in the consolidated statements of income from the date the Company gains control until the date the Company ceases to control the subsidiary.

The financial information of the subsidiaries was prepared for the same period as the Company and consistent accounting policies were applied. The financial statements of the subsidiaries are fully consolidated with those of the Company. Accordingly, all balances, transactions and any unrealized income and expenses arising between consolidated entities are eliminated in the consolidation, except for foreign-currency gain and losses on translation of intercompany loans. Profit or loss and each component of other comprehensive income are attributed to the shareholders of the parent and to the non-controlling interests, when applicable.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

The subsidiaries below are the most relevant entities included in these unaudited interim condensed consolidated financial statements:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | | **Interest in total** <br> **capital %** | **Interest in total** <br> **capital %** |
| <br>**Entity** | <br>**Control** | <br>**Principal activities** | <br>**Functional**<br> **currency** | <br>**Country** | **06/30/2025** | **12/31/2024** |
| Nu Pagamentos S.A. - Instituição de Pagamentos ("Nu Pagamentos") | Indirect | Credit card and prepaid account operations | BRL | Brazil | 100% | 100% |
| Nu Financeira S.A. – SCFI ("Nu Financeira") | Indirect | Loan operations | BRL | Brazil | 100% | 100% |
| Nu Investimentos S.A. - Corretora de Títulos e Valores Mobiliários ("Nu Investimentos") | Indirect | Investment platform | BRL | Brazil | 100% | 100% |
| Nu México Financiera, S.A. de C.V., S.F.P. ("Nu Mexico Financiera") | Indirect | Multiple purpose financial company | MXN | Mexico | 100% | 100% |
| Nu Colombia Compañía de Financiamiento S.A. ("Nu Colombia Financiera") | Indirect | Multiple purpose financial company | COP | Colombia | 100% | 100% |

---

Nu Pagamentos, Nu Financeira, and Nu Investimentos, Brazilian subsidiaries, are regulated by the Central Bank of Brazil ("BACEN"); Nu Mexico Financiera, a Mexican subsidiary, is regulated by both the Mexican Central Bank ("BANXICO") and Mexican National Banking and Stock Commission ("CNBV"); Nu Colombia, a Colombian subsidiary, is regulated by the Financial Superintendence of Colombia ("SFC"); and as such, there are some regulatory requirements that restrict the ability of the Group to access and transfer assets freely to or from these entities within the Group and to settle liabilities of the other entities of the Group.

In addition, the Company consolidated investment funds as of June 30, 2025 and December 31, 2024, in which the Group's companies hold a substantial interest or the entirety of the interests and are therefore exposed, or have rights, to variable returns and have the ability to affect those returns through power over the funds.

**4. MATERIAL ACCOUNTING POLICIES**

The accounting policies adopted by the Group in the preparation of these unaudited interim condensed consolidated financial statements are consistent with those adopted and disclosed in the Annual Financial Statements and therefore should be read in conjunction.

**5. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS**

***Use of estimates and judgments***

The preparation of financial statements requires judgments, estimates, and assumptions from management that affect the application of accounting policies, and reported amounts of assets, liabilities, revenues, and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on a periodic basis. Revisions to the estimates are recognized prospectively.

The significant assumptions and estimates used in the preparation of these unaudited interim condensed consolidated financial statements were the same as those adopted in the Annual Financial Statements.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

***Credit losses on financial instruments for credit card receivables and loans to customers***

The Group recognizes a loss allowance for expected credit losses on credit cards receivables and loans to customers that represents management's best estimate of allowance as of each reporting date.

Management performs an analysis of the credit card and loan amounts to determine if credit losses have occurred and to assess the adequacy of the allowance based on historical and current trends as well as other factors affecting credit losses.

***Key areas of judgment***

The critical judgments made by management in applying the expected credit losses ("ECL") allowance methodology are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) The macroeconomic information used to gauge
the determination of the probability weights to be given in the different macroeconomic scenarios and the respective weights;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Definition of default;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Definition of significant increase in credit
risk and credit card lifetime; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Look-back period, used for parameters estimation
(probability of default - PD, exposure at default - EAD and loss given default - LGD).

***Sensitivity analysis***

On June 30, 2025, the ECL allowance for credit card receivables and loans to customers totaled US$4,319,414, of which US$3,133,821 related to credit card receivables and US$1,185,593 to loans to customers. The ECL allowance is sensitive to the methodology, assumptions and estimations underlying its calculation. One key assumption is the probability weighting of the macroeconomic scenarios between upside, base and downside as the carrying amount of the credit loss allowance is determined based on the weighted average of these scenarios. Such weightings reflect management's perception around the current and future expectations of the macroeconomic environment in each of the geographies the Group operates. The table below illustrates the ECL based on the weighted average of these three macroeconomic scenarios and the ECL that would have arisen if management had applied a 100% weighting to each macroeconomic scenario.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Weighted**<br> **average** | **Upside** | **Base case** | **Downside** |
| Credit card and loan ECL | 4319414 | 4013428 | 4258568 | 4685953 |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**6. INCOME AND RELATED EXPENSES**

**a) Interest income and gains net of losses on financial instruments**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| Interest income – credit card | 1091598 | 985139 | 2043167 | 1968712 |
| Interest income – loan | 1128020 | 730002 | 2135259 | 1385963 |
| Interest income – other assets at amortized cost | 498610 | 281814 | 913455 | 542036 |
| Interest income – other receivables | 94175 | 77726 | 164990 | 181542 |
| Interest income and gains net of losses - financial instruments at fair value | 296219 | 351149 | 552948 | 640706 |
| Other income (loss) at fair value | 20121 | (42523) | 51060 | (55404) |
| **Total interest income and gains net of losses on financial instruments** | **3128743** | **2383307** | **5860879** | **4663555** |

---

The interest income presented above from credit card, loan, other assets at amortized cost and other receivables represents interest revenue calculated using the effective interest method. Financial assets at fair value comprise interest and the fair value changes on financial assets carried at fair value.

**b) Fee and commission income**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| Interchange fees | 392568 | 344400 | 764952 | 684103 |
| Late fees | 90193 | 70490 | 174807 | 132234 |
| Insurance commission | 8493 | 6427 | 16768 | 13393 |
| Rewards revenue | 5973 | 3238 | 14441 | 8914 |
| Other fee and commission income | 42500 | 40829 | 84312 | 82393 |
| **Total fee and commission income** | **539727** | **465384** | **1055280** | **921037** |

---

Fee and commission income are presented by fee types that reflect the nature of the services offered by the Group.

**c) Interest and other financial expenses**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| Interest expense on deposits | 920052 | 550281 | 1681219 | 1064352 |
| Interest expense on debt instruments and financing | 52582 | 38909 | 115309 | 69430 |
| Other interest and similar expenses | 57355 | 76001 | 129665 | 192124 |
| **Interest and other financial expenses** | **1029989** | **665191** | **1926193** | **1325906** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**d) Transactional expenses**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| Bank slip costs | 4304 | 4947 | 8528 | 10047 |
| Rewards expenses | 24092 | 19126 | 43801 | 34872 |
| Credit and prepaid card network costs | 9870 | 14251 | 22853 | 29286 |
| Financial system expenses | 3433 | 7349 | 4680 | 12816 |
| Other transactional expenses | 36612 | 18637 | 56937 | 40237 |
| **Total transactional expenses** | **78311** | **64310** | **136799** | **127258** |

---

Transactional expenses comprise costs and expenses related to data processing for transactions, payment network license fees, chargeback losses relating to credit and prepaid card transactions, costs relating to the rewards program to fulfil costs upon point redemption by customers, and other payment-related costs.

Credit and prepaid card network costs represent variable fees paid to Mastercard and other card programs. These include fees for network access, data reporting, development of new functionalities, operational fixed fees, chargeback restatements fees, and royalties.

Financial system expenses include financial infrastructure services related to clearing houses, custody, brokerage, and other related costs.

**7. CREDIT LOSS ALLOWANCE EXPENSES**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| Net increase of loss allowance - Credit card receivables (note 13) | 671774 | 548342 | 1312334 | 1142668 |
| Recovery | (64085) | (48326) | (127290) | (87937) |
| **Credit loss allowance expenses - Credit card receivables** | **607689** | **500016** | **1185044** | **1054731** |
| Net increase of loss allowance - Loan to customers (note 14) | 442597 | 287179 | 876262 | 576994 |
| Recovery | (38906) | (26901) | (76728) | (40069) |
| **Credit loss allowance expenses - Loan to customers** | **403691** | **260278** | **799534** | **536925** |
| **Credit loss allowance expenses - Others** | **812** | **(529)** | **1158** | **(1172)** |
| **Total** | **1012192** | **759765** | **1985736** | **1590484** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**8. OPERATING (EXPENSES) INCOME**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three-month period ended 06/30/2025** | **Three-month period ended 06/30/2025** | **Three-month period ended 06/30/2025** | **Three-month period ended 06/30/2025** | **Three-month period ended 06/30/2025** | **Three-month period ended 06/30/2025** | **Three-month period ended 06/30/2024** | **Three-month period ended 06/30/2024** | **Three-month period ended 06/30/2024** | **Three-month period ended 06/30/2024** | **Three-month period ended 06/30/2024** | **Three-month period ended 06/30/2024** |
|  | **Customer**<br> **support and**<br> **operations** | **General and**<br> **administrative**<br> **expenses** | **Marketing**<br> **expenses** | **Other expenses** | **Other income** | **Total** | **Customer**<br> **support and**<br> **operations** | **General and**<br> **administrative**<br> **expenses** | **Marketing**<br> **expenses** | **Other expenses** | **Other income** | **Total** |
| Infrastructure and data processing costs | (63092) | (53693) |  |  |  | (116785) | (63056) | (47679) |  |  |  | (110735) |
| Credit analysis and collection costs | (40286) | (8420) |  |  |  | (48706) | (31577) | (8168) |  |  |  | (39745) |
| Customer services | (15031) | (1443) |  |  |  | (16474) | (22546) | (1744) |  |  |  | (24290) |
| Salaries and associated benefits | (18813) | (87615) | (4869) |  |  | (111297) | (19549) | (84734) | (4453) |  |  | (108736) |
| Credit and prepaid card issuance costs | (8060) | (13125) |  |  |  | (21185) | (9835) | (12231) |  |  |  | (22066) |
| Share-based compensation (note 10) | (1922) | (95459) | (3292) |  |  | (100673) | (4443) | (111458) | (3263) |  |  | (119164) |
| Specialized services expenses |  | (29118) |  |  |  | (29118) |  | (12152) |  |  |  | (12152) |
| Other personnel costs | (5736) | (15764) | (586) |  |  | (22086) | (5293) | (13394) | (546) |  |  | (19233) |
| Depreciation and amortization | (8468) | (14602) |  |  |  | (23070) | (6589) | (11744) |  |  |  | (18333) |
| Branding and advertising |  |  | (58598) |  |  | (58598) |  |  | (39489) |  |  | (39489) |
| Taxes on financial income |  |  |  | (106882) |  | (106882) |  |  |  | (86024) |  | (86024) |
| Others | (26) | (22014) | (2) | (5407) | 14732 | (12717) | (29) | (23251) | - | (12623) | 1866 | (34037) |
| **Total** | **(161434)** | **(341253)** | **(67347)** | **(112289)** | **14732** | **(667591)** | **(162917)** | **(326555)** | **(47751)** | **(98647)** | **1866** | **(634004)** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**8. OPERATING (EXPENSES) INCOME**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Six-month period ended 06/30/2025** | **Six-month period ended 06/30/2025** | **Six-month period ended 06/30/2025** | **Six-month period ended 06/30/2025** | **Six-month period ended 06/30/2025** | **Six-month period ended 06/30/2025** | **Six-month period ended 06/30/2024** | **Six-month period ended 06/30/2024** | **Six-month period ended 06/30/2024** | **Six-month period ended 06/30/2024** | **Six-month period ended 06/30/2024** | **Six-month period ended 06/30/2024** |
|  | **Customer support and operations** | **General and administrative expenses** | **Marketing expenses** | **Other expenses** | **Other income** | **Total** | **Customer**<br> **support and**<br> **operations** | **General and**<br> **administrative**<br> **expenses** | **Marketing**<br> **expenses** | **Other expenses** | **Other income** | **Total** |
| Infrastructure and data processing costs | (122233) | (101858) |  |  |  | (224091) | (121651) | (95114) |  |  |  | (216765) |
| Credit analysis and collection costs | (64397) | (16590) |  |  |  | (80987) | (51115) | (17684) |  |  |  | (68799) |
| Customer services | (41844) | (3130) |  |  |  | (44974) | (52571) | (3403) |  |  |  | (55974) |
| Salaries and associated benefits | (35186) | (170654) | (9445) |  |  | (215285) | (39078) | (177035) | (9194) |  |  | (225307) |
| Credit and prepaid card issuance costs | (18883) | (26057) |  |  |  | (44940) | (17598) | (22602) |  |  |  | (40200) |
| Share-based compensation (note 10) | (3243) | (165888) | (5637) |  |  | (174768) | (8202) | (210726) | (5761) |  |  | (224689) |
| Specialized services expenses |  | (47984) |  |  |  | (47984) |  | (28241) |  |  |  | (28241) |
| Other personnel costs | (10891) | (29395) | (1129) |  |  | (41415) | (10232) | (26339) | (1089) |  |  | (37660) |
| Depreciation and amortization | (16184) | (28208) |  |  |  | (44392) | (13020) | (23778) |  |  |  | (36798) |
| Branding and advertising |  |  | (95231) |  |  | (95231) |  |  | (78534) |  |  | (78534) |
| Taxes on financial income |  |  |  | (201607) |  | (201607) |  |  |  | (167544) |  | (167544) |
| Others | (48) | (41312) | (2) | (18677) | 84872 | 24833 | (62) | (47685) | - | (14763) | 6035 | (56475) |
| **Total** | **(312909)** | **(631076)** | **(111444)** | **(220284)** | **84872** | **(1190841)** | **(313529)** | **(652607)** | **(94578)** | **(182307)** | **6035** | **(1236986)** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**9. EARNINGS PER SHARE**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| **Earnings attributable to shareholders of the parent company** | **636838** | **487272** | **1194041** | **866086** |
|  **Weighted average outstanding shares - ordinary shares**<br> **- basic (thousands)** | **4825586** | **4788239** | **4821579** | **4780762** |
| **Adjustment for the diluted earnings per share:** |  |  |  |  |
| Share based payment | 69500 | 90526 | 70492 | 92420 |
| Business acquisition | 4682 | 2188 | 5778 | 2337 |
|  **Total weighted average of ordinary outstanding shares**<br> **for diluted EPS (in thousands of shares)** | **4899768** | **4880953** | **4897849** | **4875519** |
| **Earnings per share – basic (US$)** | **0.1320** | **0.1018** | **0.2476** | **0.1812** |
| **Earnings per share – diluted (US$)** | **0.1300** | **0.0998** | **0.2439** | **0.1776** |
|  Antidilutive instruments not considered in the weighted number<br> of shares (in thousands of shares) | 831 | 959 | 14280 | 18316 |

---

The Company has instruments that will become common shares upon exercise, acquisition, conversion (SOPs and RSUs described in note 10), or satisfaction of specific business combination conditions. The effects of the potentially dilutive instruments were calculated using the treasury stock method and are included in the total weighted average of ordinary outstanding shares for diluted earnings per share ("EPS") if the effects are considered dilutive. The antidilutive instruments not considered in the weighted number of shares correspond to the total number of shares that could be converted into ordinary shares that would be issued on conversion of those instruments. Instruments are considered antidilutive if the average market value of ordinary shares during the period is less than the average value of the assumed proceeds (fair value of services that will be recognized as a cost in future periods plus exercise price multiplied by the number of options and shares to be issued on exercise of the options).

**10. SHARE-BASED PAYMENTS**

**Share-settled awards**

The Group's employee incentives include share settled awards in the form of stock, offering them the opportunity to purchase ordinary shares by exercising options (Stock Options – "SOPs"), receiving ordinary shares (Restricted Stock Units – "RSUs") upon vesting, and receiving shares upon the achievement of market conditions and passage of time ("Awards").

The cost of the employee services received with respect to those share-based compensation payments is recognized in the statement of income over the period that the employee provides services and according to the vesting conditions. The Group also issued Awards in 2020 that grant shares upon the achievement of market conditions related to the valuation of the Company. RSUs incentive was implemented in 2020 and is the main incentive since then.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

There were no changes to the terms and conditions of the SOPs and RSUs after the grant date. The changes in the number of SOPs and RSUs are as follows. WAEP is the weighted average exercise price and WAGDFV is the weighted average fair value at the grant date.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SOPs** | **06/30/2025** | **WAEP (US$)** | **06/30/2024** | **WAEP (US$)** |
| **Outstanding on January 1** | **35937918** | **1.58** | **59942062** | **1.04** |
| Exercised during the period | (2103726) | 1.06 | (11342462) | 0.12 |
| Forfeited during the period | (7942) |  | (160114) |  |
| **Outstanding on June 30** | **33826250** | **1.65** | **48439486** | **1.24** |
| **Exercisable on June 30** | **33818516** | **1.65** | **45717916** | **1.18** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RSUs** | **06/30/2025** | **WAGDFV (US$)** | **06/30/2024** | **WAGDFV (US$)** |
| **Outstanding on January 1** | **59915454** | **7.92** | **66512061** | **5.66** |
| Granted during the period | 22148294 | 10.87 | 25246821 | 11.17 |
| Vested during the period | (16525589) | 7.28 | (15694669) | 5.89 |
| Forfeited during the period | (6369680) |  | (2883895) |  |
| **Outstanding on June 30** | **59168479** | **9.06** | **73180318** | **7.48** |

---

The following tables present the total amount of share-based compensation expense for the three and six-month periods ended on June 30, 2025 and 2024, and the provision for taxes as of June 30, 2025 and December 31, 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
|  SOP and RSU expenses and related corporate and social security<br> taxes expenses | 114818 | 121048 | 187806 | 244300 |
| RSUs and SOPs grant - business combination | 804 | 1271 | 1996 | 2878 |
| Awards expenses and related taxes |  | 1993 | 1312 | 4968 |
|  Fair value adjustment - hedge of corporate and social security taxes<br> (note 20) | (14949) | (5148) | (16346) | (27457) |
| **Total share-based compensation expenses (note 8)** | **100673** | **119164** | **174768** | **224689** |
|  **Equity share-based compensation, net of shares withheld**<br> **for employee taxes** | **20579** | **50304** | **76293** | **110618** |

---

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Liability provision for taxes presented as salaries, allowances and social security contributions | 118002 | 88139 |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**11. CASH AND CASH EQUIVALENTS**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Deposits at central banks | 5183204 | 4781039 |
| Reverse repurchase agreement | 4325293 | 2291807 |
| Bank balances | 2954288 | 1943399 |
| Short-term investments | 806232 | 169488 |
| Other cash and cash equivalents |  | 9 |
| **Total** | **13269017** | **9185742** |

---

Cash and cash equivalents are held to meet short-term cash needs and include deposits with banks and other short-term highly liquid investments with original maturities of three-months or less and with an immaterial risk of change in value.

Deposits at central banks are deposits made by the Brazilian, Colombian and Mexican subsidiaries at the local central banks. The average rate of remuneration was 100.0% of the Brazilian CDI rate (Interbank Reference Rate - Certificado de Depósito Interbancário) in both periods, and 8.3% and 8.5% of the monetary policy rate set by Central Bank of Colombia as of June 30, 2025 and December 31, 2024, respectively, with daily maturity. In Mexico, deposits held at the local central bank are not remunerated.

Reverse repurchase agreements are mainly in Mexican pesos, using government bonds as collateral. The agreements are executed overnight with an average fixed rate of 9.4% and 10.3% per year as of June 30, 2025 and December 31, 2024, respectively.

Short-term investments are mainly in U.S. dollars and remunerated by a fixed-rate index averaging 3.7% per year as of June 30, 2025 (as of December 31, 2024, the amount was mainly in Brazilian Reais and the average rate of remuneration was 100.0% of the Brazilian CDI rate).

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**12. SECURITIES**

**a) Financial instruments at fair value through profit and loss ("FVTPL")**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** |
|  | | | **Maturities** | **Maturities** | **Maturities** | |
| **Financial instruments at FVTPL** | <br>**Amortized**<br> **Cost** | <br>**Fair Value** | **No maturity** | **Up to 12**<br> **months** | **Over 12**<br> **months** | <br>**Fair Value** |
| **Government bonds** |  |  |  |  |  |  |
| Latin America | - | - | - | - | - | 492552 |
| **Total government bonds** | **-** | **-** | **-** | **-** | **-** | **492552** |
| **Corporate bonds and other instruments** |  |  |  |  |  |  |
| Bill of credit (LC) | 5 | 5 |  | 3 | 2 | 10 |
| Certificate of bank deposits (CDB) | 3882 | 3872 |  | 2650 | 1222 | 1365 |
| Real estate and agribusiness letter of credit | 1324 | 1331 |  | 823 | 508 | 1283 |
| Corporate bonds and debentures | 3024 | 3027 |  | 2 | 3025 | 5904 |
| Equity instrument (i) | 12130 | 12881 | 12881 |  |  | 12900 |
| Investment funds | 26202 | 26202 | 26202 |  |  | 100199 |
| Notes | 350299 | 350224 | - | 350224 | - | 51029 |
| **Total corporate bonds and other instruments** | **396866** | **397542** | **39083** | **353702** | **4757** | **172690** |
| **Total financial instruments at FVTPL** | **396866** | **397542** | **39083** | **353702** | **4757** | **665242** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** |
|  | **Amounts in** | **Amounts in** | **Amounts in** | **Amounts in** |
| **Financial instruments at FVTPL** | **Original Currency** | **US$** | **Original Currency** | **US$** |
| **Currency:** |  |  |  |  |
| Brazilian Reais | 187022 | 34433 | 3691084 | 597882 |
| U.S. Dollars | 350224 | 350224 | 54460 | 54460 |
| Mexican Pesos | 72 | 4 |  |  |
| Others (i) | 1104761 | 12881 | 1103724 | 12900 |
| **Total** |  | **397542** |  | **665242** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Refers to an investment in Jupiter, a neobank
for consumers in India and an investment in Din Global ("dBank"), a Pakistani fintech company. As of June 30, 2025, the total
fair value of these investments corresponded to US$12,881 (US$12,900 on December 31, 2024), classified as level 3 in the fair value hierarchy,
as described in note 29.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**b) Financial instruments at fair value through other comprehensive income ("FVTOCI")**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** |
|  | | | **Maturities** | **Maturities** | **Maturities** | |
| **Financial instruments at FVTOCI** | <br>**Amortized**<br> **Cost** | <br>**Fair Value** | **No maturity** | **Up to 12**<br> **months** | **Over 12**<br> **months** | <br>**Fair Value** |
| **Government bonds (i)** |  |  |  |  |  |  |
| Latin America | 10062059 | 10165846 |  | 1319230 | 8846616 | 8279684 |
| North America | - | - | - | - | - | 177006 |
| **Total government bonds** | **10062059** | **10165846** | **-** | **1319230** | **8846616** | **8456690** |
| **Corporate bonds and other instruments** |  |  |  |  |  |  |
| Corporate bonds and debentures | 349905 | 338324 |  |  | 338324 | 1120206 |
| Investment funds | 4546 | 4546 | 6007 |  |  | 23221 |
| Time deposit | 312927 | 312882 |  | 299841 | 13041 | 303970 |
| Real estate and agribusiness certificate of receivables | 8814 | 8907 | - | - | 8907 | 9430 |
| **Total corporate bonds and other instruments** | **676192** | **664659** | **6007** | **299841** | **360272** | **1456827** |
| **Total financial instruments at FVTOCI** | **10738251** | **10830505** | **6007** | **1619071** | **9206888** | **9913517** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** |
|  | **Amounts in** | **Amounts in** | **Amounts in** | **Amounts in** |
| **Financial instruments at FVTOCI** | **Original Currency** | **US$** | **Original**<br> **Currency** | **US$** |
| **Currency:** |  |  |  |  |
| Brazilian Reais | 51396813 | 9462556 | 56819567 | 9203636 |
| U.S. Dollars | 312881 | 312881 | 262699 | 262699 |
| Mexican Pesos | 17464532 | 931566 | 8729908 | 419159 |
| Colombian Pesos | 504830844 | 123502 | 123458969 | 28023 |
| **Total** |  | **10830505** |  | **9913517** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Includes US$92,054 (US$51,128 on December
31, 2024) held by the subsidiaries for regulatory purposes, as required by the Central Bank of Brazil .
It also includes government and time deposits securities margins pledged by the Group for transactions on the stock exchange in the amount
of US$423,534 (US$350,193 on December 31, 2024). Government bonds are classified as Level 1 in the fair value hierarchy, as described
in note 29.

The Group has corporate bonds and debentures classified as FVTOCI, for which it has recorded on ECL in the amount of US$634 for the six-month period ended June 30, 2025 (US$184 on December 31, 2024) and the exposure was classified as Stage 1. There was no transfer between stages during the six-month period ended on June 30, 2025.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**c) Financial instruments at amortized cost**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** |
|  | | **Maturities** | **Maturities** | **Maturities** | |
| **Financial instruments at amortized cost** | <br>**Amortized**<br> **Cost** | **No maturity** | **Up to 12 months** | **Over 12**<br> **months** | <br>**Amortized**<br> **Cost** |
| **Government bonds (i)** |  |  |  |  |  |
| Latin America | 287433 |  | 85635 | 201798 | 544896 |
| Europe | 789709 |  | 789709 |  | 197645 |
| Asia-Pacific | 325344 | - | 325344 | - | 138897 |
| **Total government bonds** | **1402486** | **-** | **1200688** | **201798** | **881438** |
| **Corporate bonds and other instruments** |  |  |  |  |  |
| Corporate bonds and debentures | 5132 | - | 5103 | 29 | 3980 |
| **Total sovereign bonds and other instruments** | **5132** | **-** | **5103** | **29** | **3980** |
| **Total financial instruments at amortized cost** | **1407618** | **-** | **1205791** | **201827** | **885418** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** |
|  | **Amounts in** | **Amounts in** | **Amounts in** | **Amounts in** |
| **Financial instruments at amortized cost** | **Original Currency** | **US$** | **Original Currency** | **US$** |
| **Currency:** |  |  |  |  |
| Mexican Pesos |  |  | 7003292 | 336257 |
| Brazilian Reais | 6084399 | 1120185 | 1244752 | 201625 |
| Colombian Pesos | 1174916967 | 287433 | 919186238 | 208639 |
| U.S. Dollars |  | - | 138897 | 138897 |
| **Total** |  | **1407618** |  | **885418** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) As of June 30, 2025, includes US$545,944 (US$
201,494 on December 31, 2024) held by the subsidiaries as guarantee pledged to the Margin loan, see details in note 24.

The Group has recorded an ECL in the amount of US$775 for the period ended June 30, 2025 and the exposure was classified as Stage 1. There was no transfer between stages during the six-month period ended on June 30, 2025 and 2024.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**13. CREDIT CARD RECEIVABLES** 

**Composition of receivables**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Receivables - current (i) | 7484705 | 6100636 |
| Receivables - installments (i) | 9793729 | 7690429 |
| Receivables - revolving (ii) | 946243 | 828247 |
| **Total receivables** | **18224677** | **14619312** |
| **Credit card ECL allowance** |  |  |
| Presented as deduction of receivables | (3095148) | (2360036) |
| Presented as "Other liabilities" (note 27) | (38673) | (29490) |
| **Total credit card ECL allowance** | **(3133821)** | **(2389526)** |
| **Receivables, net** | **15090856** | **12229786** |
| **Total receivables presented as assets** | **15129529** | **12259276** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) "Receivables - current" is related
to purchases, withdrawals, payment slips ("boleto") and PIX (BACEN instant payments) financing made by customers due on the
next credit card billing date. "Receivables - installments" is related to purchases in installments. Credit card receivables
can be paid by Nu's customers in up to 36 monthly installments. The cardholder's credit limit is initially reduced by the total
amount and the installments become due and payable on the cardholder's subsequent monthly credit card statement. In Brazilian financial
subsidiaries the corresponding payments to the credit card network (see note 23) follows a similar schedule. As receipts and payments
are aligned, the Group does not incur significant financing costs with this product, however it is exposed to the credit risk of the cardholder
as it is obliged to make the payments to the credit card network even if the cardholder does not pay. "Receivables - installments"
also includes the amounts of credit card bills not fully paid by the customers and that have been converted into payments in installments
with a fixed interest rate ("fatura parcelada"), in addition to bill financing, which comprise bills paid in installments through
the credit card, banking payment slips ("boleto") and PIX financing in more than one installment.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) "Receivables - revolving" is related
to the amounts due from customers that have not paid or fully paid their credit card bill. Customers may request to convert these receivables
into loans to be paid in installments. In accordance with Brazilian regulation, revolving balances in Brazil that have not been fully
paid and that are outstanding for more than 2 months are mandatorily converted into "fatura parcelada" - a type of installment
loan which is settled through the customer's monthly credit card bills .

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**a) Breakdown by maturity**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** |
|  | **Amount** | **%** | **Amount** | **%** |
| **Receivables due in:** |  |  |  |  |
| Up to 30 days | 7415383 | 40.6% | 5988227 | 41.0% |
| 30 to 60 days | 3025609 | 16.6% | 2497783 | 17.1% |
| 60 to 90 days | 1779890 | 9.8% | 1405428 | 9.6% |
| Over 90 days | 3919356 | 21.5% | 3085206 | 21.1% |
| **Total receivables not overdue** | **16140238** | **88.5%** | **12976644** | **88.8%** |
| **Receivables overdue by:** |  |  |  |  |
| Up to 30 days | 539025 | 3.0% | 411881 | 2.8% |
| 30 to 60 days | 231661 | 1.3% | 176988 | 1.3% |
| 60 to 90 days | 204992 | 1.1% | 147486 | 1.0% |
| Over 90 days | 1108761 | 6.1% | 906313 | 6.1% |
| **Total receivables overdue** | **2084439** | **11.5%** | **1642668** | **11.2%** |
| **Total** | **18224677** | **100.0%** | **14619312** | **100.0%** |

---

Receivables not yet due consist mainly of current receivables and future bill installments ("*parcelado*") and receivables overdue consist mainly of late balances.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**b) Credit loss allowance - by stages**

As of June 30, 2025, the credit card ECL allowance totaled US$3,133,821 (US$2,389,526 as of December 31, 2024). The provision is estimated using modeling techniques, consistently applied, and is sensitive to the methods, assumptions, and risk parameters underlying its calculation.

The amount that the credit loss allowance represents in comparison to the Group's gross receivables (the coverage ratio) is also monitored to anticipate trends that could indicate credit risk increases. This metric is considered a key risk indicator and it is monitored across multiple committees, supporting the decision-making process and is discussed in the Group's credit forums.

The explanation of each stage is set out in the Company's accounting policies, as disclosed in the Annual Financial Statements.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Gross**<br> **Exposures** | **%** | **Credit Loss**<br> **Allowance** | **%** | **Coverage Ratio**<br> **(%)** | **Gross**<br> **Exposures** | **%** | **Credit Loss**<br> **Allowance** | **%** | **Coverage Ratio**<br> **(%)** |
| **Stage 1** | **14574717** | **79.9%** | **835992** | **26.6%** | **5.7%** | **11849086** | **81.1%** | **670984** | **28.0%** | **5.7%** |
| **Stage 2** | **1916270** | **10.6%** | **712524** | **22.8%** | **37.2%** | **1377896** | **9.4%** | **445996** | **18.7%** | **32.4%** |
| Absolute Trigger (Days late) | 478358 | 25.0% | 353664 | 49.6% | 73.9% | 349725 | 25.4% | 254294 | 57.0% | 72.7% |
| Relative Trigger (PD deterioration) | 1437912 | 75.1% | 358860 | 50.4% | 25.0% | 1028171 | 74.6% | 191702 | 43.0% | 18.6% |
| **Stage 3** | **1733690** | **9.5%** | **1585305** | **50.6%** | **91.4%** | **1392330** | **9.5%** | **1272546** | **53.3%** | **91.4%** |
| **Total** | **18224677** | **100.0%** | **3133821** | **100.0%** | **17.2%** | **14619312** | **100.0%** | **2389526** | **100.0%** | **16.3%** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**c) Credit loss allowance - by credit quality vs. stages**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Gross**<br> **Exposures** | **%** | **Credit Loss**<br> **Allowance** | **%** | **Coverage Ratio**<br> **(%)** | **Gross**<br> **Exposures** | **%** | **Credit Loss**<br> **Allowance** | **%** | **Coverage Ratio**<br> **(%)** |
| **Strong (PD < 5%)** | **7724988** | **42.4%** | **164144** | **5.2%** | **2.1%** | **6644920** | **45.5%** | **126401** | **5.3%** | **1.9%** |
| Stage 1 | 7724961 | 100.0% | 164144 | 100.0% | 2.1% | 6628863 | 99.8% | 126147 | 99.8% | 1.9% |
| Stage 2 | 27 |  |  |  |  | 16057 | 0.2% | 254 | 0.2% | 1.6% |
| **Satisfactory (5% <= PD <= 20%)** | **5823128** | **32.0%** | **466315** | **14.9%** | **8.4%** | **4304062** | **29.4%** | **324830** | **13.6%** | **7.5%** |
| Stage 1 | 5560217 | 95.5% | 447916 | 96.0% | 8.1% | 4170990 | 96.9% | 315603 | 97.2% | 7.6% |
| Stage 2 | 262911 | 4.5% | 18399 | 4.0% | 7.0% | 133072 | 3.1% | 9227 | 2.8% | 6.9% |
| **Higher Risk (PD > 20%)** | **4676561** | **25.6%** | **2503362** | **79.9%** | **53.5%** | **3670330** | **25.1%** | **1938295** | **81.1%** | **52.8%** |
| Stage 1 | 1289539 | 27.6% | 223932 | 9.0% | 17.4% | 1049233 | 28.6% | 229234 | 11.8% | 21.8% |
| Stage 2 | 1653332 | 35.4% | 694125 | 27.7% | 42.0% | 1228767 | 33.5% | 436515 | 22.5% | 35.5% |
| Stage 3 | 1733690 | 37.0% | 1585305 | 63.3% | 91.4% | 1392330 | 37.9% | 1272546 | 65.7% | 91.4% |
| **Total** | **18224677** | **100.0%** | **3133821** | **100.0%** | **17.2%** | **14619312** | **100.0%** | **2389526** | **100.0%** | **16.3%** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**d) Credit loss allowance - changes**

The following tables show the reconciliations from the opening to the closing balance of the credit loss allowance by stages of the financial instruments.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2024** | **06/30/2024** | **06/30/2024** | **06/30/2024** |
|  | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Credit loss allowance at beginning of period** | **670984** | **445996** | **1272546** | **2389526** | **693151** | **477714** | **925404** | **2096269** |
| Transfers from Stage 1 to Stage 2 | (107008) | 107008 |  |  | (75658) | 75658 |  |  |
| Transfers from Stage 2 to Stage 1 | 112168 | (112168) |  |  | 64697 | (64697) |  |  |
| Transfers to Stage 3 | (70445) | (302067) | 372512 |  | (72305) | (284910) | 357215 |  |
| Transfers from Stage 3 | 53277 | 13160 | (66437) |  | 19034 | 8541 | (27575) |  |
| Write-offs |  |  | (907422) | (907422) |  |  | (618810) | (618810) |
| Net increase of loss allowance (note 7) | 86635 | 490331 | 735368 | 1312334 | 195529 | 356730 | 590409 | 1142668 |
| &nbsp;&nbsp;*New originations (a)* | *53861* | *6152* | *1584* | *61597* | *75980* | *4704* | *2072* | *82756* |
| &nbsp;&nbsp;*Changes in exposure of preexisting accounts (b)* | *367309* | *5344* | *(3423)* | *369229* | *204869* | *2389* | *(2524)* | *204734* |
| &nbsp;&nbsp;*Other movements, primarily net drawdowns/repayments and net remeasurement from movements between stages and between risk bands within each stage* | *(269593)* | *417081* | *730993* | *878480* | *(85320)* | *349637* | *590861* | *855178* |
| &nbsp;&nbsp;*Changes to models used in calculation (c)* | *(64942)* | *61754* | *6214* | *3026* | *-* | *-* | *-* | *-* |
| Effect of changes in exchange rates (OCI) | 90381 | 70264 | 178738 | 339383 | (92101) | (68159) | (146824) | (307084) |
| **Credit loss allowance at end of the period** | **835992** | **712524** | **1585305** | **3133821** | **732347** | **500877** | **1079819** | **2313043** |

---

The "Net increase of loss allowance" is distributed considering the stages at the end of the period, except in (c), which is calculated considering the stages at the beginning of the period.

(a) Considers all accounts originated from the beginning to the end of the period. ECL effects presented in the table were calculated as if risk parameters at the beginning of the period were applied.

(b) Reflects the movements in exposure (both drawdown and undrawn limits) of accounts that already existed in the beginning of the period. ECL effects were calculated as if risk parameters of the exposures at the beginning of the period were applied.

(c) Changes to models that occurred during the period include, primarily, the calibration of ECL parameters to reflect more recent risk and recovery data, the changes in the Company's underwriting policies and in the collections strategies.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

The following tables present changes in the gross carrying amount of the credit card portfolio to demonstrate the effects of the changes in the loss allowance for the same portfolio as presented above. "Net change of gross carrying amount" includes drawdown, payments, and interest accruals.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2024** | **06/30/2024** | **06/30/2024** | **06/30/2024** |
|  | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Gross carrying amount at beginning of period** | **11849086** | **1377896** | **1392330** | **14619312** | **11891823** | **1490067** | **1103907** | **14485797** |
| Transfers from Stage 1 to Stage 2 | (1132846) | 1132846 |  |  | (800975) | 800975 |  |  |
| Transfers from Stage 2 to Stage 1 | 662215 | (662215) |  |  | 369182 | (369182) |  |  |
| Transfers to Stage 3 | (421524) | (539179) | 960703 |  | (394048) | (483743) | 877791 |  |
| Transfers from Stage 3 | 62293 | 15182 | (77475) |  | 43210 | 19258 | (62468) |  |
| Write-offs |  |  | (907422) | (907422) |  |  | (618810) | (618810) |
| Net change of gross carrying amount | 1914742 | 386326 | 168869 | 2469937 | 1991241 | 278163 | 180153 | 2449557 |
| Effect of changes in exchange rates (OCI) | 1640751 | 205414 | 196685 | 2042850 | (1610750) | (214425) | (176210) | (2001385) |
| **Gross carrying amount at end of the period** | **14574717** | **1916270** | **1733690** | **18224677** | **11489683** | **1521113** | **1304363** | **14315159** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**14. LOANS TO CUSTOMERS**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Loans to individuals (i) | 8576887 | 5864270 |
| Loans to companies | 478958 | 252185 |
| **Total loans** | **9055845** | **6116455** |
| Loan ECL allowance | (1185593) | (794570) |
| **Total** | **7870252** | **5321885** |

---

(i) As of June 30, 2025, the balance includes US$2,292,866 of secured loans (US$1,387,697 as of December 31, 2024).

**a) Breakdown by maturity**

The following table shows loans to customers by maturity on June 30, 2025, and December 31, 2024, considering each installment individually.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** |
|  | **Amount** | **%** | **Amount** | **%** |
| **Loans to customers due in:** |  |  |  |  |
| Up to 30 days | 1096639 | 12.2% | 758514 | 12.4% |
| 30 to 60 days | 924278 | 10.2% | 714740 | 11.7% |
| 60 to 90 days | 770567 | 8.5% | 579491 | 9.5% |
| 90 to 360 days | 3493486 | 38.6% | 2361344 | 38.6% |
| Over 360 | 2412699 | 26.6% | 1460397 | 23.9% |
| **Total loans to customers not overdue** | **8697669** | **96.1%** | **5874486** | **96.1%** |
| **Loans to customers overdue by:** |  |  |  |  |
| Up to 30 days | 112332 | 1.2% | 89590 | 1.5% |
| 30 to 60 days | 74117 | 0.8% | 44183 | 0.7% |
| 60 to 90 days | 57233 | 0.6% | 33167 | 0.5% |
| Over 90 days | 114494 | 1.3% | 75029 | 1.2% |
| **Total loans to customers overdue** | **358176** | **3.9%** | **241969** | **3.9%** |
| **Total** | **9055845** | **100.0%** | **6116455** | **100.0%** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**b) Credit loss allowance - by stages**

As of June 30, 2025, the loans to customers ECL allowance totaled US$1,185,593 (US$794,570 as of December 31, 2024). The provision is estimated using modeling techniques, consistently applied, which is sensitive to the methods, assumptions, and risk parameters underlying its calculation.

The amount that the credit loss allowance represents in comparison to the Group's gross receivables (the coverage ratio) is also monitored to anticipate trends that could indicate credit risk increases. This metric is considered a key risk indicator and it is monitored across multiple committees, supporting the decision-making process and is discussed in the Group's credit forums.

The explanation of each stage is set out in the Company's accounting policies, as disclosed in the Annual Financial Statements.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Gross**<br> **Exposures** | **%** | **Credit Loss**<br> **Allowance** | **%** | **Coverage**<br> **Ratio**<br> **(%)** | **Gross**<br> **Exposures** | **%** | **Credit Loss**<br> **Allowance** | **%** | **Coverage**<br> **Ratio**<br> **(%)** |
| **Stage 1** | **7118635** | **78.6%** | **324987** | **27.4%** | **4.6%** | **4728358** | **77.3%** | **239306** | **30.1%** | **5.1%** |
| **Stage 2** | **1381187** | **15.3%** | **487944** | **41.2%** | **35.3%** | **1054416** | **17.2%** | **325020** | **40.9%** | **30.8%** |
| Absolute Trigger (Days late) | 263299 | 19.1% | 208359 | 42.7% | 79.1% | 180780 | 17.1% | 150723 | 46.4% | 83.4% |
| Relative Trigger (PD deterioration) | 1117888 | 80.9% | 279585 | 57.3% | 25.0% | 873636 | 82.9% | 174297 | 53.6% | 20.0% |
| **Stage 3** | **556023** | **6.1%** | **372662** | **31.4%** | **67.0%** | **333681** | **5.5%** | **230244** | **29.0%** | **69.0%** |
| **Total** | **9055845** | **100.0%** | **1185593** | **100.0%** | **13.1%** | **6116455** | **100.0%** | **794570** | **100.0%** | **13.0%** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**c) Credit loss allowance - by credit quality vs stages**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Gross**<br> **Exposures** | **%** | **Credit Loss**<br> **Allowance** | **%** | **Coverage**<br> **Ratio**<br> **(%)** | **Gross**<br> **Exposures** | **%** | **Credit Loss**<br> **Allowance** | **%** | **Coverage**<br> **Ratio**<br> **(%)** |
| **Strong (PD < 5%)** | **3044155** | **33.6%** | **38368** | **3.3%** | **1.3%** | **1954790** | **31.9%** | **19761** | **2.4%** | **1.0%** |
| Stage 1 | 2996943 | 98.4% | 38193 | 99.5% | 1.3% | 1883302 | 96.3% | 18678 | 94.5% | 1.0% |
| Stage 2 | 47212 | 1.6% | 175 | 0.5% | 0.4% | 71488 | 3.7% | 1083 | 5.5% | 1.5% |
| **Satisfactory (5% <= PD <= 20%)** | **3015173** | **33.3%** | **159452** | **13.4%** | **5.3%** | **2101425** | **34.4%** | **113253** | **14.3%** | **5.4%** |
| Stage 1 | 2945926 | 97.7% | 156040 | 97.9% | 5.3% | 1855922 | 88.3% | 97439 | 86.0% | 5.3% |
| Stage 2 | 69247 | 2.3% | 3412 | 2.1% | 4.9% | 245503 | 11.7% | 15814 | 14.0% | 6.4% |
| **Higher Risk (PD > 20%)** | **2996517** | **33.1%** | **987773** | **83.3%** | **33.0%** | **2060240** | **33.7%** | **661556** | **83.3%** | **32.1%** |
| Stage 1 | 1175766 | 39.2% | 130754 | 13.3% | 11.1% | 989134 | 48.0% | 123189 | 18.6% | 12.5% |
| Stage 2 | 1264728 | 42.2% | 484357 | 49.0% | 38.3% | 737425 | 35.8% | 308123 | 46.6% | 41.8% |
| Stage 3 | 556023 | 18.6% | 372662 | 37.7% | 67.0% | 333681 | 16.2% | 230244 | 34.8% | 69.0% |
| **Total** | **9055845** | **100.0%** | **1185593** | **100.0%** | **13.1%** | **6116455** | **100.0%** | **794570** | **100.0%** | **13.0%** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**d) Credit loss allowance - changes**

The following tables show reconciliations from the opening to the closing balance of the credit loss allowance by the stages of the financial instruments.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2024** | **06/30/2024** | **06/30/2024** | **06/30/2024** |
|  | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Credit loss allowance at beginning of period** | **239306** | **325020** | **230244** | **794570** | **145341** | **223982** | **142811** | **512134** |
| Transfers from Stage 1 to Stage 2 | (35116) | 35116 |  |  | (30488) | 30488 |  |  |
| Transfers from Stage 2 to Stage 1 | 68217 | (68217) |  |  | 23536 | (23536) |  |  |
| Transfers to Stage 3 | (49532) | (229488) | 279020 |  | (26537) | (139204) | 165741 |  |
| Transfers from Stage 3 | 19986 | 20177 | (40163) |  | 7676 | 11425 | (19101) |  |
| Write-offs |  |  | (606999) | (606999) |  |  | (380973) | (380973) |
| Net increase of loss allowance (note 7) | 47228 | 355326 | 473708 | 876262 | 74679 | 216526 | 285789 | 576994 |
| &nbsp;&nbsp;*New originations (a)* | *551062* | *74023* | *8033* | *633118* | *415627* | *68663* | *13166* | *497456* |
| &nbsp;&nbsp;*Other movements, primarily net drawdowns/repayments and net remeasurement from movements between stages and between risk bands within each stage* | *(534585)* | *276736* | *499515* | *241666* | *(340948)* | *147863* | *272626* | *79541* |
| &nbsp;&nbsp;*Changes to models used in calculation (b)* | *30751* | *4567* | *(33840)* | *1478* | *—* | *—* | *—* | *—* |
| Effect of changes in exchange rates (OCI) | 34898 | 50010 | 36852 | 121760 | (23379) | (37972) | (23355) | (84706) |
| **Credit loss allowance at end of the period** | **324987** | **487944** | **372662** | **1185593** | **170828** | **281709** | **170912** | **623449** |

---

The "Net increase of loss allowance" is distributed considering the stages at the end of the period, except in (b), which is calculated considering the stages at the beginning of the period.

(a) Considers all accounts originated from the beginning to the end of the period. ECL effects presented in the table were calculated as if risk parameters at the beginning of the period were applied.

(b) Changes to models that occurred during the period include, primarily, the calibration of ECL parameters to reflect more recent risk and recovery data, the changes in the Company's underwriting policies and in the collections strategies.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

The following tables present changes in the gross carrying amount of the loan portfolio to demonstrate the effects of the changes in the loss allowance for the same portfolio as discussed above. "Net change of gross carrying amount" includes drawdowns, payments, and interest accruals.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2024** | **06/30/2024** | **06/30/2024** | **06/30/2024** |
|  | **Stage 1** | **Stage 2** | **Stage 3** | **Total** | **Stage 1** | **Stage 2** | **Stage 3** | **Total** |
| **Gross carrying amount at beginning of the period** | **4728358** | **1054416** | **333681** | **6116455** | **2831131** | **648296** | **234343** | **3713770** |
| Transfers from Stage 1 to Stage 2 | (463534) | 463534 |  |  | (323402) | 323402 |  |  |
| Transfers from Stage 2 to Stage 1 | 455094 | (455094) |  |  | 154015 | (154015) |  |  |
| Transfers to Stage 3 | (287501) | (389603) | 677104 |  | (146894) | (224611) | 371505 |  |
| Transfers from Stage 3 | 24203 | 31209 | (55412) |  | 8722 | 12839 | (21561) |  |
| Write-offs |  |  | (606999) | (606999) |  |  | (380973) | (380973) |
| Net increase of gross carrying amount | 1919633 | 522518 | 152234 | 2594385 | 1482185 | 308289 | 136952 | 1927426 |
| Effect of changes in exchange rates (OCI) | 742382 | 154207 | 55415 | 952004 | (478588) | (109512) | (40473) | (628573) |
| **Gross carrying amount at end of the period** | **7118635** | **1381187** | **556023** | **9055845** | **3527169** | **804688** | **299793** | **4631650** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**15. COMPULSORY AND OTHER DEPOSITS AT CENTRAL BANKS**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Compulsory deposits (i) | 4678054 | 3833670 |
| Reserve at central bank - Instant payments (ii) | 3532178 | 2909666 |
| **Total** | **8210232** | **6743336** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Compulsory deposits are required by local
central banks based on the amount of RDB and CDB held by Nu Financeira and deposits in electronic money held by Nu Colombia. These resources
are remunerated mainly in Brazilian SELIC rate (special settlement and custody system of the BACEN) and for Colombia the compulsory deposits
are not remunerated.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Reserve at central bank - Instant payments
relates to cash maintained in the Instant Payments Account, which is required by BACEN to support instant payment operations, and it is
based on the average of PIX transactions per day based on the last month, including additional funds as a safety margin. These resources
are remunerated in Brazilian SELIC rate.

**16. OTHER RECEIVABLES**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Other receivables | 931343 | 1415263 |
| Other receivables - ECL Allowance | (1810) | (1820) |
| **Total** | **929533** | **1413443** |

---

Other receivables are mostly related to credit card receivables acquired from merchant acquirers which are due from credit card issuers (mainly banks and other financial institutions), and measured initially at fair value, additionally, are used as underlying collateral in repurchase agreement operations, as mentioned in note 21. As of December 31, 2024, the balance also included receivables related to the agreement with Mastercard, including incentive mechanisms linked to debit and credit transaction volume performance and other performance obligations. The ECL expenses for the six-month period ended June 30, 2025 decreased US$251 (US$794 for the six-month period ended June 30, 2024). As of June 30, 2025 and December 31, 2024, the total amount of the Group's exposure was classified as Stage 1 Strong (PD<5%), with no transfers between stages for the six-month period ended June 30, 2025 and 2024.

All receivables are classified in stages. The explanation of each stage is set out in the Company's accounting policies, as disclosed in the Annual Financial Statements.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**17. OTHER ASSETS**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Deferred expenses (i) | 312001 | 254791 |
| Taxes recoverable (ii) | 701153 | 218790 |
| Advances to suppliers and employees | 90224 | 72950 |
| Prepaid expenses (iii) | 96916 | 80193 |
| Judicial deposits (note 25) | 5464 | 5711 |
| Other assets (iv) | 51885 | 31143 |
| **Total** | **1257643** | **663578** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Refers to credit card issuance costs, including
printing, packing, and shipping costs, among others. The expenses are amortized based on the card's estimated useful life methodology,
adjusted for any cancellations.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Taxes recoverable refer to overpaid taxes
and contributions as well as tax credits on costs and expenses eligible for future offsets or refunds.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) Prepaid expenses refer to invoices related
to the cloud savings plan, in accordance with the supplier contract.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**18. INVESTMENTS IN ASSOCIATES**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| |  |  |  |  |  |  |  | **Six-month period ended** | **Six-month period ended** |
| | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
| <br>**Company** | **Equity interest** | **Shareholding**<br> **interest with**<br> **voting rights**<br> **(ii)** | **Investment**<br> **(iii)** | **Current**<br> **assets** | **Non-current**<br> **assets** | **Current**<br> **liabilities** | **Non-current**<br> **liabilities** | **Share of profit (loss)**<br> **of associates** | **Associates**<br> **net income (loss)**<br> **for the period** |
| Tyme (i) | 18.0% |  | 97210 | 125773 | 263506 | 633 |  | (2155) | (11973) |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| |  |  |  |  |  |  |  | **Six-month period ended** | **Six-month period ended** |
| | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **06/30/2024** | **06/30/2024** |
| <br>**Company** | **Equity interest** | **Shareholding**<br> **interest with**<br> **voting rights**<br> **(ii)** | **Investment**<br> **(iii)** | **Current**<br> **assets** | **Non-current**<br> **assets** | **Current**<br> **liabilities** | **Non-current**<br> **liabilities** | **Share of profit (loss)**<br> **of associates** | **Associates**<br> **net income (loss)**<br> **for the period** |
| Tyme (i) | 18.0% |  | 99365 | 1201 | 218846 | 14447 |  |  |  |

---

(i) Tyme is the holding company which has investments in Tyme Bank Holdings (South Africa operation) and Tyme Investments (Southeast Asia operation)

(ii) Nu has no voting rights but all Series D preferred shares acquired by the Group may be converted into shares with voting rights at any time at Nu's election.

(iii) The total investment in Tyme Group was US$150,000, of which US$99,365 referred to investments in associates and the remaining is related to derivatives, such as call options and warrants recorded at fair value, enabling Nu to acquire additional equity interest in the future. The derivatives are presented in note 20. During the six-month period ended June 30, 2025 Nu recognized a loss in associates of US$2,155.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**19. INTANGIBLES ASSETS AND GOODWILL**

**a) Composition of intangible assets and goodwill**

**(i) Intangible assets**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Cost** | **Accumulated**<br> **amortization** | **Net value** | **Cost** | **Accumulated**<br> **amortization** | **Net value** |
| Intangibles related to acquisitions | 137318 | (69735) | 67583 | 137318 | (58705) | 78613 |
| Internally developed intangibles | 471052 | (88824) | 382228 | 313983 | (54136) | 259847 |
| Other intangibles | 89626 | (25144) | 64482 | 29737 | (20581) | 9156 |
| **Total** | **697996** | **(183703)** | **514293** | **481038** | **(133422)** | **347616** |

---

**(ii) Goodwill**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
|  | **Goodwill** | **Goodwill** |
| Nu Investimento's acquisition | 348276 | 353405 |
| Other acquisitions | 62071 | 60882 |
| **Total** | **410347** | **414287** |

---

**b) Changes on intangibles assets and goodwill**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
|  | **Goodwill** | **Intangible assets** | **Intangible assets** | **Intangible assets** | **Intangible assets** |
|  | | **Intangibles**<br> **related to**<br> **acquisitions** | **Internally**<br> **developed**<br> **intangible** | **Other**<br> **Intangibles** | **Total Intangibles** |
| **Balance at beginning of the period** | **414287** | **78613** | **259847** | **9156** | **347616** |
| Additions | 1189 |  | 112746 | 56872 | 169618 |
| Disposals |  |  | (1249) |  | (1249) |
| Amortization |  | (9754) | (27965) | (2073) | (39792) |
| Effect of changes in exchange rates (OCI) | (5129) | (1276) | 38850 | 527 | 38101 |
| **Balance at end of the period** | **410347** | **67583** | **382228** | **64482** | **514293** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **06/30/2024** | **06/30/2024** | **06/30/2024** | **06/30/2024** | **06/30/2024** |
|  | **Goodwill** | **Intangible assets** | **Intangible assets** | **Intangible assets** | **Intangible assets** |
|  | | **Intangibles**<br> **related to**<br> **acquisitions** | **Internally**<br> **developed**<br> **intangible** | **Other**<br> **Intangibles** | **Total Intangibles** |
| **Balance at beginning of the period** | **397538** | **61634** | **224698** | **9549** | **295881** |
| Additions |  |  | 73716 | 2454 | 76170 |
| Disposals |  |  | (4840) |  | (4840) |
| Amortization |  | (6916) | (23137) | (2721) | (32774) |
| Effect of changes in exchange rates (OCI) | 64 | 2276 | (30236) | (487) | (28447) |
| **Balance at end of the period** | **397602** | **56994** | **240201** | **8795** | **305990** |

---

**20. DERIVATIVE FINANCIAL INSTRUMENTS**

The Group executes transactions with derivative financial instruments, which are intended, in their majority, to meet its own needs to reduce its exposure to market, currency and interest-rate risks. The derivatives are classified at fair value through profit or loss, except those in cash flow hedge accounting strategies, for which the effective portion of gains or losses on derivatives is recognized directly in other comprehensive income. Management of these risks is conducted through determining limits, and the establishment of operating strategies. The derivative contracts are considered level 1, 2 or 3 in the fair value hierarchy and are used to hedge exposures, but hedge accounting is adopted only for forecasted transactions related to the cloud infrastructure, intercompany transactions and certain software licenses used by Nu (hedge of foreign currency risk), to hedge interest of the fixed rate credit portfolio (hedge of interest rate risk of portfolio) and to hedge the future cash disbursement related to highly probable future transactions and accrued liabilities for corporate and social security taxes at RSU vesting or SOP exercise, as shown below.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | | **Fair values** | **Fair values** | | **Fair values** | **Fair values** |
|  | <br>**Notional**<br> **amount** | **Assets** | **Liabilities** | <br>**Notional**<br> **amount** | **Assets** | **Liabilities** |
| **Derivatives classified at fair value through profit or loss** |  |  |  |  |  |  |
| Interest rate contracts – Futures | 13032 |  | 116 | 347110 | 158 |  |
| Foreign currency exchange rate contracts – Futures | 1072894 | 245 | 11952 | 701367 | 61 | 1990 |
| Interest rate contracts – Swaps | 113966 | 2533 |  | 308176 | 19808 | 78 |
| Foreign currency exchange rate contracts - Non-deliverable forwards (NDF) | 926568 | 1103 | 18191 | 483493 | 4772 | 16169 |
| Warrants | 23678 | 19968 |  | 23645 | 23665 |  |
| Call Options | 27000 | 20447 |  | 27000 | 27000 |  |
| Forward Contract | 92427 | 92427 | 92427 |  |  |  |
| **Derivatives held for hedging** |  |  |  |  |  |  |
| **Designated as cash flow hedge** |  |  |  |  |  |  |
| Foreign currency exchange rate contracts – Futures | 145326 |  | 1692 | 164752 |  | 510 |
| Equity - Total Return Swap (TRS) | 62723 | 6855 |  | 111479 |  | 13582 |
| **Designated as fair value hedge** |  |  |  |  |  |  |
| Interest rate contracts – Swaps | 321860 | 5 | 123 | - | - |  |
| **Total** | **2799474** | **143583** | **124501** | **2167022** | **75464** | **32329** |

---

Futures contracts are traded on the B3 (*Brasil, Bolsa e Balcão*), a stock exchange in Brazil, as the counterparty and are settled on a daily basis. The total value of margins pledged by the Group in transactions on the stock exchange is presented in note 12.

Interest rate swaps contracts are settled at the maturity date and are traded over the counter with financial institutions as counterparties.

Nu Financeira has hedged foreign currency exposure and has forward contracts for acquisition of financial assets.

Total Return Swap (TRS) contracts are settled only at maturity and are traded over the counter with financial institutions as counterparties.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**Breakdown by maturity**

The table below shows the breakdown by maturity of the notional amounts:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Up to 3**<br> **months** | **3 to 12**<br> **months** | **Over 12**<br> **months** | **Total** | **Up to 3**<br> **months** | **3 to 12**<br> **months** | **Over 12**<br> **months** | **Total** |
| **Assets** |  |  |  |  |  |  |  |  |
| Interest rate contracts – Futures |  |  |  |  | 305566 | 14521 | 27023 | 347110 |
| Foreign currency exchange rate contracts – Futures | 1198083 |  |  | 1198083 | 866119 |  |  | 866119 |
| Interest rate contracts – Swaps |  | 12391 | 123054 | 135445 |  |  | 105576 | 105576 |
| Foreign currency exchange rate contracts - Non-deliverable forwards (NDF) | 414833 |  |  | 414833 | 381493 | 37000 |  | 418493 |
| Equity - Total Return Swap (TRS) | 44207 | 5887 | 12629 | 62723 | 9945 | 85043 | 16491 | 111479 |
| Warrants |  |  | 23678 | 23678 |  |  | 23645 | 23645 |
| Call Options | - | - | 27000 | 27000 | - | - | 27000 | 27000 |
| **Total assets** | **1657123** | **18278** | **186361** | **1861762** | **1563123** | **136564** | **199735** | **1899422** |
| **Liabilities** |  |  |  |  |  |  |  |  |
| Interest rate contracts – Swaps | 46152 | 62443 | 191786 | 300381 | 65000 |  |  | 65000 |
| Foreign currency exchange rate contracts - Non-deliverable forwards (NDF) | 511735 |  |  | 511735 |  |  |  |  |
| Foreign currency exchange rate contracts – Futures | 20137 |  |  | 20137 |  |  |  |  |
| Interest rate contracts – Futures | 13032 |  |  | 13032 |  |  |  |  |
| Forward Contract | 92427 | - | - | 92427 | 202600 | - | - | 202600 |
| **Total liabilities** | **683483** | **62443** | **191786** | **937712** | **267600** | **-** | **-** | **267600** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

The table below shows the breakdown by maturity of the fair value amounts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Up to 12**<br> **months** | **Over 12**<br> **months** | **Total** | **Up to 12**<br> **months** | **Over 12**<br> **months** | **Total** |
| **Assets** |  |  |  |  |  |  |
| Interest rate contracts – Swaps | 5 | 2533 | 2538 | 17010 | 2798 | 19808 |
| Interest rate contracts – Futures |  |  |  | 158 |  | 158 |
| Foreign currency exchange rate contracts – Futures | 245 |  | 245 | 61 |  | 61 |
| Foreign currency exchange rate contracts - Non-deliverable forwards (NDF) | 1103 |  | 1103 | 4772 |  | 4772 |
| Equity - Total Return Swap (TRS) | 6560 | 295 | 6855 |  |  |  |
| Warrants |  | 19968 | 19968 |  | 23665 | 23665 |
| Call Options |  | 20447 | 20447 |  | 27000 | 27000 |
| Forward Contract | 92427 | - | 92427 | - | - | - |
| **Total assets** | **100340** | **43243** | **143583** | **22001** | **53463** | **75464** |
| **Liabilities** |  |  |  |  |  |  |
| Equity - Total Return Swap (TRS) |  |  |  | 13020 | 562 | 13582 |
| Interest rate contracts – Swaps | 42 | 81 | 123 | 78 |  | 78 |
| Interest rate contracts – Futures | 116 |  | 116 |  |  |  |
| Foreign currency exchange rate contracts – Futures | 13643 |  | 13643 | 2500 |  | 2500 |
| Foreign currency exchange rate contracts - Non-deliverable forwards (NDF) | 18192 |  | 18192 | 16169 |  | 16169 |
| Forward Contract | 92427 | - | 92427 | - | - | - |
| **Total liabilities** | **124420** | **81** | **124501** | **31767** | **562** | **32329** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**a) Hedge of foreign currency risk**

The Group is exposed to foreign currency risk on forecast transaction expenses, related to the cloud infrastructure, certain software licenses and intercompany expenses. The Group manages its exposures to the variability in cash flows of foreign currency forecasted transactions to movements in foreign exchange rates by entering into foreign currency exchange rate contracts (exchange futures). These instruments are entered into to match the cash flow profile of the estimated forecast transactions and are exchange-traded with fair value movements settled on a daily basis.

The Group applies hedge accounting to the forecasted transactions related to its main cloud infrastructure contract and other expenses in foreign currency including intercompany expenses. The effectiveness is assessed monthly by analyzing the critical terms. The critical terms of the hedging instrument and the amount of the forecasted hedged transactions are significantly the same. Derivatives are generally rolled over monthly. They are expected to occur in the same fiscal month as the maturity date of the hedged item. Therefore, the hedge is expected to be effective. Subsequent assessments of effectiveness are performed by verifying and documenting whether the critical terms of the hedging instrument and forecasted hedged transaction have changed during the period in review and whether it remains probable. If there are no such changes in critical terms, the Group will continue to conclude that the hedging relationship is effective. Sources of ineffectiveness are differences in the amount and timing of forecast and actual payment of expenses.

The table below shows the change in the hedge of foreign currency risk:

---

| | | |
|:---|:---|:---|
|  | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** |
| **Balance at beginning of the period** | **11721** | **(8254)** |
| Fair value change recognized in OCI during the period | 2188 | 27665 |
|  **Total amount reclassified from cash flow hedge reserve to the statement**<br> **of profit or loss during the period** | **(33366)** | **3088** |
| &nbsp;&nbsp;*to "Customer support and operation"* | *9944* | *(4042)* |
| &nbsp;&nbsp;*to "General and administrative expenses"* | *(11673)* | *(1725)* |
| &nbsp;&nbsp;*to "Other income"* | *(3689)* | *—* |
| &nbsp;&nbsp;*Effect of changes in exchange rates (OCI)* | *(27948)* | *8855* |
| Deferred income taxes | 6366 | (12392) |
| **Balance at end of the period** | **(13091)** | **10107** |

---

The expected future transactions that are the hedged items are:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** |
|  | **Up to 3 months** | **3 to 12 months** | **Total** | **Total** |
| Expected foreign currency transactions | 50878 | 119810 | 170688 | 187456 |
| **Total** | **50878** | **119810** | **170688** | **187456** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**b) Hedge of corporate and social security taxes over share-based compensation**

The Group's hedge strategy is to cover the future cash disbursement related to highly probable future transactions and accrued liabilities for corporate and social security taxes at RSU vesting from the variation of the Company's share price volatility. The derivative financial instruments used to cover the exposure are total return swaps ("TRS") in which one leg is indexed to the Company's stock price and the other leg is indexed to Secured Overnight Financing Rate ("SOFR") plus spread. The stock fixed at the TRS is a weighted average price. The hedge was entered into by Nu Holdings and therefore there is no income tax effect.

The Group applies the cash flow hedge for the hedge structure thus the market risk is replaced by an interest rate risk. The effectiveness assessment is performed monthly by (i) assessing the economic relationship between the hedged item and the hedging instrument; (ii) monitoring the credit risk impact in the hedge effectiveness; and (iii) maintaining and updating the hedging ratio. Given the possibility of forfeiture impacting the future cash forecast of the employee benefit plan, the Group manages exposures to keep the hedging level within an acceptable coverage. The derivative fair value is measured substantially based on the stock price which is also used in the measurement of the provision or payment for corporate and social security taxes. There is no expectation for a mismatch between the hedged item and hedging instrument at maturity other than the SOFR.

The table below shows the change in the hedge of corporate and social security taxes over share-based compensation:

---

| | | |
|:---|:---|:---|
|  | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** |
| **Balance at beginning of the period** | **11029** | **20671** |
| Fair value change recognized in OCI during the period | 12848 | 47960 |
|  **Total amount reclassified from cash flow hedge reserve to the statement**<br> **of profit or loss during the period (note 10)** | **(16346)** | **(27457)** |
| &nbsp;&nbsp;*to "Customer support and operations"* | *866* | *(1108)* |
| &nbsp;&nbsp;*to "General and administrative expenses"* | *(16803)* | *(25628)* |
| &nbsp;&nbsp;*to "Marketing expenses"* | *(409)* | *(721)* |
| **Balance at end of the period** | **7531** | **41174** |

---

***Expected cash disbursement***

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** |
|  | **Up to 1 year** | **1 to 3 years** | **Above 3**<br> **years** | **Total** | **Total** |
| **Considering the reporting date fair value of the<br> hedged item:** |  |  |  |  |  |
| Expected cash disbursement for corporate<br> and social contributions | 29095 | 43473 | - | 72568 | 278662 |
| **Total** | **29095** | **43473** | **-** | **72568** | **278662** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**21. REPURCHASE AGREEMENTS**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| **Repurchase agreements** |  |  |
| Government bonds (i) | 1064482 | 308583 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) On June 30, 2025 the Group has US$1,064,482 (US$308,583 as of December 31, 2024) in repurchase agreements
using government bonds as collateral. These agreements are mainly executed with overnight maturities, although some instruments have short-term
maturities (up to 3 months). The average fixed rate is 13.7% per year as of June 30, 2025 (as of December 31, 2024 the average fixed rate
was 12.1% per year) and the government bonds that are pledged as collateral are classified as fair value through other comprehensive income
on note 12. As of June 30, 2025 the fair value of the securities pledged to repurchase agreement is US$885,980 (US$309,225 as of December
31, 2024). Additionally, the Group also uses other receivables as underlying collateral in repurchase agreement operations. As of June
30, 2025, the balance of receivables pledged as collateral amounted to US$94,325. These other receivables are presented in note 16.

Changes to repurchase agreement are as follows:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| **Balance at beginning of the period** | **308583** | **210454** |
| New obligations | 84130723 | 181750640 |
| Payments - principal | (83458669) | (181586958) |
| Payments - interest | (42632) | (74096) |
| Interest accrued | 44142 | 74096 |
| Effect of changes in exchange rates (OCI) | 82335 | (65553) |
| **Balance at the end of the period** | **1064482** | **308583** |

---

**22. FINANCIAL LIABILITIES AT AMORTIZED COST – DEPOSITS**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Bank receipt of deposits (RDB) | 26083136 | 21511844 |
| Deposits in electronic money | 10060587 | 6796826 |
| Bank certificate of deposit (CDB) | 496433 | 546395 |
| **Total** | **36640156** | **28855065** |

---

Currently, deposits in electronic money in Brazil, México and Colombia include NuAccount balances. In Brazil, NuAccount is a prepaid account in which the amounts deposited by customers are classified as electronic money and must be allocated to government securities (see note 12b) or in a specific account maintained at the Central Bank of Brazil (see note 15), in accordance with Brazilian regulatory requirements.

In Mexico, NuAccount balances are not required to be invested in specific assets; and therefore, they can be used as a financing source for the credit card operations in Mexico.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

In Colombia, NuAccount balances are required to have a percentage of the deposits from the public in an account with the Colombian Central Bank, also a percentage of the deposits as required to be invested in a class of compulsory deposits.

RDBs are investment products available within NuAccount offering either daily liquidity or fixed future maturity options. Deposits in RDB are guaranteed under limits from the Brazilian Deposit Guarantee Fund ("FGC"). Unlike the deposits in electronic money, Nu is required to follow the compulsory deposits requirements for RDB deposits (see note 15). However, there is no obligation to invest the remaining balance in government securities or to hold it in a specific account at the Central Bank of Brazil. As such, these amounts can be used as a financing source for loan and credit card operations.

The interest paid on both NuAccount and RDB deposits (except fixed term RDBs) is 100% of the Brazilian CDI rate as of the initial date if the balances are kept for more than 30 days. There are also RDBs with a defined future maturity date, which have a maturity of up to 27 months and a weighted average interest rate of 104% of the Brazilian CDI rate as of June 30, 2025 (as of December 31, 2024, the weighted average interest rate was 105% of the Brazilian CDI rate).

For NuAccount in Mexico, the balances deposited in "Cajitas" yield from 9.0% to 15.0% per year as of June 30, 2025 (as of December 31, 2024, the balances yield from 12.0% to 14.0% per year). "Cajitas" has daily yield accrual and can have daily liquidity or defined future maturity.

The interest paid on NuAccount in Colombia was from 9.3% to 9.8% per year as of June 30, 2025 (as of December 31, 2024, the interest paid was from 11.0% to 11.5% per year).

The Bank certificate of deposit (CDB) is issued by Nu Financeira and primarily distributed by Nu Investimentos.

**Breakdown by maturity**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Up to 12 months** | **Over 12**<br> **months** | **Total** | **Up to 12 months** | **Over 12**<br> **months** | **Total** |
| Bank receipt of deposits (RDB) | 25957949 | 125187 | 26083136 | 21402435 | 109409 | 21511844 |
| Deposits in electronic money | 10060587 |  | 10060587 | 6796826 |  | 6796826 |
| Bank certificate of deposit (CDB) | 390486 | 105947 | 496433 | 462407 | 83988 | 546395 |
| **Total** | **36409022** | **231134** | **36640156** | **28661668** | **193397** | **28855065** |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**23. FINANCIAL LIABILITIES AT AMORTIZED COST – PAYABLES TO NETWORK**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Payables to credit card network | 11052378 | 9333541 |
| Payables to clearing houses | 107867 | - |
| **Total** | **11160245** | **9333541** |

---

Payables to credit card network corresponds mainly to the amount payable to the acquirers related to credit and prepaid card transactions. Brazilian credit card payables are settled according to the transaction installments, substantially in up to 27 days for transactions with no installments; 1 business day for international transactions; and sales in installments ("parcelado") have monthly settlements, mostly, over a period of up to 12 months. For Mexican and Colombian credit card transactions, the amounts are settled in 1 business day.

In December 2024, Nu renewed and extended its long-term partnership with Mastercard, including incentive mechanisms linked to debit and credit transaction volume performance and other performance obligations to be satisfied throughout the duration of the agreement.

The segregation by maturity is shown in the table below:

---

| | | |
|:---|:---|:---|
| **Payables to credit card network** | **06/30/2025** | **12/31/2024** |
| Up to 30 days | 4361201 | 4326268 |
| 30 to 90 days | 3409675 | 2450743 |
| More than 90 days | 3281502 | 2556530 |
| **Total** | **11052378** | **9333541** |

---

**Collateral for credit card operations**

As of June 30, 2025, the Group had US$343 (US$336 on December 31, 2024) of security deposits granted in favor of Mastercard. These security deposits are measured at fair value through profit (loss) and are held as collateral for the amounts payable to the network and can be replaced by other security deposits with similar characteristics. The average remuneration rate of those security deposits was 0.33% per month in the six-month period ended June 30, 2025 (0.34% per month in the year ended December 31, 2024).

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**24. FINANCIAL LIABILITIES AT AMORTIZED COST – BORROWINGS AND FINANCING**

**a) Borrowings and financings**

Borrowings and financings maturities are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
|  | **Up to 3 months** | **3 to 12 months** | **Over 12**<br> **months** | **Total** |
| **Borrowings and financings** |  |  |  |  |
| Financial bills (ii) | 206004 | 495417 | 1028254 | 1729675 |
| Margin loan credit facility (iii) | - | 545944 | - | 545944 |
| **Total borrowings and financings** | **206004** | **1041361** | **1028254** | **2275618** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Up to 3 months** | **3 to 12 months** | **Over 12**<br> **months** | **Total** |
| **Borrowings and financings** |  |  |  |  |
| Syndicated loan (i) | 109 | 21279 | 328873 | 350261 |
| Financial bills (ii) | 6577 | 184833 | 987193 | 1178603 |
| Margin loan credit facility (iii) | - | 201493 | - | 201493 |
| **Total borrowings and financings** | **6686** | **407605** | **1316066** | **1730357** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Correspond to three syndicated credit facilities.
The first, in which Nu's subsidiaries in Mexico and Colombia are the borrowers and the Company is acting as guarantor, the total
amount of the credit facility was US$650,000, of which US$625,000 was allocated to Nu Mexico and fully paid as of September 30, 2024.
The remaining US$25,000 was allocated to Nu Colombia, fully paid on February 17, 2025. The second, in which Nu Colombia has been granted
a 3-year facility from IFC (International Finance Corporation), the total amount corresponds to US$265,100, guaranteed by the Company,
and was fully paid on February 4, 2025. The third, in which Nu Colombia executed a 3-year credit facility with DFC - U.S. International
Development Finance Corporation for the amount of US$150,000, guaranteed by the Company. As of December 31, 2024, Nu Colombia Financiera
had drawn-down US$50,000 of this credit facility, amount which was fully paid on January 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) As of June 30, 2025, Nu Financeira had issued
financial bills in Brazilian reais, indexed to CDI, or CDI plus a fixed spread. The principal amount was equivalent to US$1,580,488 (US$1,280,144
as of December 31, 2024). The maturity for these financial bills is from July 2025 up to June 2028.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) Correspond to margin loan credit facility,
backed by government securities and sovereign bonds as collateral for the operation which Nu entered into through Nu Financeira. As of
June 30, 2025 the principal amount was US$544,000 (US$200,000 as of December 31, 2024). The loans are indexed to CME Term SOFR Rate (CME
Group's forward-looking SOFR rate) plus a fixed spread. The maturity for these loans is from November 2025 to June 2026 **.** 

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

Changes to borrowings and financings are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
|  | **Margin loan credit facility** | **Syndicated loan** | **Financial Bills** | **Total** |
| **Balance at beginning of the period** | **201493** | **350261** | **1178603** | **1730357** |
| New borrowings | 344000 |  | 292307 | 636307 |
| Payments – principal |  | (355041) | (13901) | (368942) |
| Payments – interest | (7421) | (17298) | (4173) | (28891) |
| Interest accrued | 7623 | 2704 | 93905 | 104233 |
| Transaction costs |  | 4146 | (378) | 3768 |
| Effect of changes in exchange rates (OCI) | 249 | 15227 | 183310 | 198786 |
| **Balance at end of the period** | **545944** | **-** | **1729674** | **2275618** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2024** | **06/30/2024** | **06/30/2024** | **06/30/2024** |
|  | **Term loan credit facility** | **Syndicated loan** | **Financial Bills** | **Total** |
| **Balance at beginning of the period** | **98775** | **821501** | **216068** | **1136344** |
| New borrowings |  |  | 813014 | 813014 |
| Payments – principal | (93964) |  |  | (93964) |
| Payments – interest | (7483) | (48443) |  | (55926) |
| Interest accrued | 3486 | 33385 | 30314 | 67185 |
| Transaction costs |  | 17061 | (492) | 16569 |
| Amortization of transaction costs |  | 57 |  | 57 |
| Effect of changes in exchange rates (OCI) | (814) | (41471) | (105075) | (147360) |
| **Balance at end of the period** | **-** | **782090** | **953829** | **1735919** |

---

**Covenants**

The above-mentioned credit facility from DFC includes restrictive clauses (covenants) which establish the maintenance of minimum financial indicators related to capital adequacy, funding and liquidity (cash) position, as well as profitability metrics and leverage ratios including, but not limited to, net debt to gross profit, in addition to non-financial indicators as specified in the contract. Failure to comply with these financial covenants constitutes an event of default and if funds have been drawn may lead to the acceleration of the debt and termination of the credit facility. Additionally, the agreement contains cross-default clauses triggered in the event Nu Holdings and/or some subsidiaries fail to pay any material indebtedness. The covenants are monitored on a regular basis.

**Guarantees**

Nu Holdings guarantees the above-mentioned credit facility with DFC for Nu Colombia.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**25. PROVISION FOR LAWSUITS AND ADMINISTRATIVE PROCEEDINGS**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Tax risks | 2683 | 883 |
| Civil risks | 20623 | 18650 |
| Labor risks | 4572 | 3018 |
| **Total** | **27878** | **22551** |

---

The Company and its subsidiaries are parties to lawsuits and administrative proceedings arising from time to time in the ordinary course of operations, involving civil, tax and labor matters. Such matters are being addressed at both the administrative and judicial levels, and when applicable, are supported by judicial deposits. Provisions for probable losses arising from these matters are estimated and periodically adjusted by management, with support from external legal counsel. There is significant uncertainty relating to the timing of any cash outflows, if any, for civil and labor risk.

**a) Provision**

Civil lawsuits are mainly related to credit card operations. Based on management's assessment, and inputs from Nu's external legal counsel, the Group has provisioned US$20,623 (US$18,650 on December 31, 2024) considered sufficient to cover estimated losses from civil suits deemed probable.

**b) Changes**

Changes to provision for lawsuits and administrative proceedings are as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2024** |
|  | **Tax** | **Civil** | **Labor** | **Total** | **Total** |
| **Balance at beginning of the period** | **883** | **18650** | **3018** | **22551** | **8082** |
| Additions | 1586 | 10010 | 2878 | 14474 | 25067 |
| Monetary adjustment |  | 42 | 287 | 329 |  |
| Reversals |  | (600) | (1476) | (2076) | (6609) |
| Payments |  | (9994) | (611) | (10605) | (8224) |
| Effect of changes in exchange rates (OCI) | 214 | 2515 | 476 | 3205 | (1994) |
| **Balance at end of the period** | **2683** | **20623** | **4572** | **27878** | **16322** |

---

**c) Contingencies**

The Group is a party to civil and labor lawsuits, involving risks classified by management and supported by its advisors as possible losses, totaling approximately US$3,914 and US$9,347, respectively (US$2,613 and US$17,738 on December 31, 2024).

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**d) Judicial deposits**

As of June 30, 2025, the total amount of judicial deposits shown as "Other assets" (note 17) is US$5,464 (US$5,711 on December 31, 2024) and is substantially attributed to the judicial deposit carried on behalf of the shareholders of Nu Investimentos, prior to the acquisition, due to a tax proceeding related to withholding taxes calculated on amounts paid to employees.

**26. DEFERRED INCOME**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Deferred revenue from rewards program | 104697 | 69387 |
| Other deferred income | 1602 | 2249 |
| **Total** | **106299** | **71636** |

---

Deferred revenue from rewards programs relates to the Group's rewards programs for its credit card customers, specifically the "Nubank+" and "Ultravioleta". Under these programs, members earn points according to the use of the credit card in the ratio of R$1.00 (one Brazilian real, equivalent to US$0.18 as of June 30, 2025 and US$0.21 as of December 31, 2024), equal to 0.5 and 1 point in cashback for Nubank+ and Ultravioleta, respectively. The points do not expire and there is no cap on the number of points an eligible card holder can earn. Points can be redeemed for cashback or converted into air miles.

Nu uses financial models to estimate the redemption rates of rewards earned to date by current card members, and, therefore, the estimated financial value of the points, based on historical redemption trends and current enrollee redemption behavior, among others. The estimated financial value is recorded in the statement of income when the performance obligation is satisfied, specifically at the time the reward points are redeemed.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**27. OTHER LIABILITIES**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Payment transactions - other (i) | 231110 | 204426 |
| Sundry creditors (ii) | 351245 | 244635 |
| Credit card ECL allowance (note 13) (iii) | 38673 | 29490 |
| Payables to insurers | 10531 | 16634 |
| Intermediation of securities | 2921 | 20896 |
| Third parties funds in transit (iv) | 38466 | 35179 |
| Other liabilities (v) | 101123 | 70352 |
| **Total** | **774069** | **621612** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Correspond to prepayments from customers which
exceed the credit card bill amounts.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Includes payable to suppliers.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) Includes the amount by which the expected
credit card loss allowance exceeds the gross carrying amount of the related financial assets, due to provisions for unused limits.

&nbsp;&nbsp;&nbsp;&nbsp;(iv) Primarily related to pending settlement balances
with B3 and amounts payable to a partner institution related to utility bill payments made by customers.

&nbsp;&nbsp;&nbsp;&nbsp;(v) Primarily related to provisions for Nucoin
redemptions and customer funds deposited with Nu Investimento.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**28. RELATED PARTIES**

In the ordinary course of business, the Group issues credit cards or loans to Nu's executive directors, board members, key employees and close family members. Those transactions, along with deposits and other products, such as investments, are conducted on similar terms as those offered to unrelated third parties under similar circumstances and do not involve more than the normal risk of collectability.

As described in note 3, Basis of Consolidation, all entities within the Group are consolidated in these unaudited interim condensed consolidated financial statements. Therefore, related party balances and transactions, as well as unrealized gains or losses arising from intercompany transactions, are eliminated in the unaudited interim condensed consolidated financial statements.

**Transactions with other related parties**

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
|  | **Assets (Liabilities)** | **Assets (Liabilities)** |
| Other liabilities (i) | (1541) | (1795) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) In the second quarter of 2024, Nu entered
into a commercial relationship with a company where one of its Directors serves as CEO. As part of this agreement, Nu received a cash
incentive, which will be recognized as a reduction in intangible costs upon the Company's satisfaction of certain conditions.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**29. FAIR VALUE MEASUREMENT**

The main valuation techniques employed in internal models to measure the fair value of the financial instruments as of June 30, 2025 and December 31, 2024 are set out below. The principal inputs into these models are derived from observable market data. The Group did not make any material changes to its valuation techniques and internal models in those periods.

**a) Fair value of financial instruments carried at amortized cost**

The following tables show the fair value of the financial instruments carried at amortized cost as of June 30, 2025 and December 31, 2024. The Group has not disclosed the fair values of financial instruments such as compulsory and other deposits at central banks, other receivables, other financial assets at amortized cost, repurchase agreements, deposits in electronic money and RDB as the carrying amounts are a reasonable approximation of fair value.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Carrying**<br> **amount** | **Fair value** | **Fair value** | **Fair value** | **Carrying**<br> **amount** | **Fair value** | **Fair value** | **Fair value** |
|  | **Carrying**<br> **amount** | **Level 1** | **Level 2** | **Level 3** | **Carrying**<br> **amount** | **Level 1** | **Level 2** | **Level 3** |
| **Assets** |  |  |  |  |  |  |  |  |
| Credit card receivables | 15129529 |  |  | 16257953 | 12259276 |  |  | 13188240 |
| Loans to customers | 7870252 |  |  | 8300699 | 5321885 |  |  | 5639873 |
|  Compulsory and other deposits<br> at central banks | 8210232 |  |  |  | 6743336 |  |  |  |
| Other receivables | 929533 |  |  |  | 1413443 |  |  |  |
| Other financial assets | 160328 |  |  |  | 78147 |  |  |  |
| Securities | 1407618 | 285994 | 1111942 | - | 885418 | 544845 | 330745 | - |
| **Total** | **33707492** | **285994** | **1111942** | **24558652** | **26701505** | **544845** | **330745** | **18828113** |
| **Liabilities** |  |  |  |  |  |  |  |  |
| Deposits in electronic money | 10060587 |  |  |  | 6796826 |  |  |  |
| Bank receipt of deposits (RDB) | 26083136 |  |  |  | 21511844 |  |  |  |
| Bank certificate of deposit (CDB) | 496433 |  | 495977 |  | 546395 |  | 545474 |  |
| Payables to network | 11052378 |  | 10339729 |  | 9333541 |  | 8693972 |  |
| Borrowings and financing (i) | 2275618 |  | 2286355 |  | 1730357 |  | 1737303 |  |
| Repurchase agreements | 1064482 |  |  |  | 308583 |  |  |  |
| **Total** | **51032634** | **-** | **13122061** | **-** | **40227546** | **-** | **10976749** | **-** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Borrowings and financing include the fair
value calculated by the discounted cash flow method. Prepayment clauses at the amortized cost are considered in the fair value methodology.
The fair value of floating rate demand deposits is assumed to be equal to carrying amounts.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

The valuation approach to specific categories of financial instruments is described below.

**i) Fair value models and inputs**

**Credit card:** The fair values of credit card receivables and payables to the network are calculated using the discounted cash flow method. Fair values are determined by discounting the contractual cash flows by the interest rate curve and credit spread. For payables, cash flows are also discounted by the Group's own credit spread.

**Loans to customers:** Fair value is estimated based on groups of customers with similar risk profiles, using valuation models. The fair value of a loan is determined by discounting the contractual cash flows by the interest rate curve and a credit spread.

**b) Fair value of financial instruments measured at fair value**

The following table shows a summary of the fair values, as of June 30, 2025 and December 31, 2024, of the financial assets and liabilities indicated below, classified on the basis of the various measurement methods used by the Group to determine their fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
|  | **Fair value**<br> **Level 1** | **Fair value**<br> **Level 2** | **Fair value**<br> **Level 3** | **Total** |
| **Assets** |  |  |  |  |
| **Cash and cash equivalents** |  |  |  |  |
| Short-term investments (i) | 654447 | 13 |  | 654460 |
| **Government bonds** |  |  |  |  |
| Latin America | 10165846 |  |  | 10165846 |
| **Corporate bonds and other instruments** |  |  |  |  |
| Certificate of bank deposits (CDB) |  | 3872 |  | 3872 |
| Investment funds | 10983 | 19765 |  | 30748 |
| Time deposit |  | 312882 |  | 312882 |
| Notes |  | 350224 |  | 350224 |
| Bill of credit (LC) |  | 5 |  | 5 |
| Real estate and agribusiness certificate of receivables |  | 8907 |  | 8907 |
| Real estate and agribusiness letter of credit |  | 1331 |  | 1331 |
| Corporate bonds and debentures | 309967 | 31384 |  | 341351 |
| Equity instrument |  |  | 12881 | 12881 |
| Derivative financial instruments | 92672 | 10496 | 40415 | 143583 |
| Collateral for credit card operations |  | 343 |  | 343 |
| **Liabilities** |  |  |  |  |
| Derivative financial instruments | 106187 | 18314 |  | 124501 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Includes time deposits, investment funds and
CDB balances.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
|  | **Fair value**<br> **Level 1** | **Fair value**<br> **Level 2** | **Fair value**<br> **Level 3** | **Total** |
| **Assets** |  |  |  |  |
| **Cash and cash equivalents** |  |  |  |  |
| Short-term investments (i) | 161094 | 8671 |  | 169765 |
| **Government bonds** |  |  |  |  |
| Latin America | 8772236 |  |  | 8772236 |
| North America | 177006 |  |  | 177006 |
| **Corporate bonds and other instruments** |  |  |  |  |
| Certificate of bank deposits (CDB) |  | 1365 |  | 1365 |
| Investment funds | 86802 | 36615 |  | 123417 |
| Time deposit |  | 303970 |  | 303970 |
| Notes |  | 51029 |  | 51029 |
| Bill of credit (LC) |  | 10 |  | 10 |
| Real estate and agribusiness certificate of receivables |  | 9430 |  | 9430 |
| Real estate and agribusiness letter of credit |  | 1283 |  | 1283 |
| Corporate bonds and debentures | 1039320 | 86790 |  | 1126110 |
| Equity instrument |  |  | 12900 | 12900 |
| Derivative financial instruments | 219 | 24580 | 50665 | 75464 |
| Collateral for credit card operations |  | 336 |  | 336 |
| **Liabilities** |  |  |  |  |
| Derivative financial instruments | 2500 | 29829 |  | 32329 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Includes time deposits, investment funds and
CDB balances.

**i) Fair value models and inputs**

**Securities:** Securities with high liquidity and quoted prices in the active markets are classified as Level 1. All government bonds and certain corporate bonds are included in Level 1 as they are traded in active markets. For Brazilian securities, fair values are based on prices published by the "*Associação Brasileira das Entidades dos Mercados Financeiro e de Capitais*" ("Anbima"). For US, Mexico and Colombia bonds, fair values are based on prices published by Bloomberg, Valmer and Precia, respectively. Other corporate bonds and investment fund shares, for which fair values are calculated based on observable data, such as interest rates and interest rate curves are classified as Level 2.

**Derivatives:** Exchange-traded derivatives are classified as Level 1 with valuations based on market quotes. Derivatives traded on the Brazilian stock exchange are fairly valued using B3 quotations. Swaps are valued by discounting future expected cash flows to present values using interest rate curves and are classified as Level 2. Total Return Swaps are also valued by discounting expected cash flows, with the particularity that the equity leg expected cash flow is based on the last observed price, following non-arbitrage principles. Call options and Warrants are valued using internal models with unobservable inputs and premises, and classified as Level 3.

**Equity instrument:** The fair value of the equity instrument is determined using contractual conditions as inputs that are not directly observable in the market, and therefore classified as Level 3.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**c) Reconciliation of fair value measurements in Level 3**

The table below shows a reconciliation from the opening to the closing balances for recurring fair value measurements categorized within Level 3 of the fair value hierarchy.

---

| | | | |
|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** |
|  | **Equity instrument** | **Derivative**<br> **financial**<br> **instruments** | **Total** |
| **Financial assets at beginning of period** | **12900** | **50665** | **63565** |
| Acquisitions |  |  |  |
| Total gains or losses | (19) | (10250) | (10269) |
| &nbsp;&nbsp;*In profit or loss* | *(19)* | *(10250)* | *(10269)* |
| **Financial assets at end of period** | **12881** | **40415** | **53296** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **06/30/2024** | **06/30/2024** | **06/30/2024** | **06/30/2024** |
|  | **Equity instrument** | **Derivative financial**<br> **instruments** | **Investment funds** | **Total** |
| **Financial assets at beginning of period** | **13199** | **20** | **—** | **13219** |
| Acquisitions |  |  | 70609 | 70609 |
| Total gains or losses | (23) | 7 | 1174 | 1158 |
| &nbsp;&nbsp;*In profit or loss* | *(23)* | *7* | *2623* | *2607* |
| &nbsp;&nbsp;*In OCI* | *—* | *—* | *(1449)* | *(1449)* |
| Effect of changes in exchange rates (OCI) |  |  | (8385) | (8385) |
| **Financial assets at end of period** | **13176** | **27** | **63398** | **76601** |

---

**d) Transfers between levels of the fair value hierarchy**

For the six-month period ended June 30, 2025 and 2024, there were no material transfers of financial instruments between levels.

**30. INCOME TAX**

Current and deferred taxes are determined for all transactions that have been recognized in the consolidated financial statements using the provisions of the current tax laws. The current income tax expense or benefit represents the estimated taxes to be paid or refunded, respectively, for the current period. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities. They are measured using the tax rates and laws that will be in effect when the temporary tax differences and tax loss carryforward are expected to reverse.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**a) Income tax reconciliation**

The tax on the Group's pre-tax profit differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits of the consolidated entities. Thus, the following is a reconciliation of income tax expense to profit for the period, calculated by applying the combined Brazilian income tax rate of 40% for the three and six-month periods ended June 30, 2025 and 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** |
|  | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** |
| **Profit before income tax** | **879362** | **725421** | **1674435** | **1303958** |
| Tax rate (i) | 40% | 40% | 40% | 40% |
| **Income tax** | **(351745)** | **(290168)** | **(669774)** | **(521583)** |
| **Permanent additions/exclusions** |  |  |  |  |
| Share-based payments | (6492) | (1080) | (5142) | (5646) |
| Operational losses and others | 126 | (4530) |  | (7952) |
| Effect of different tax rates - subsidiaries and parent company | 32371 | 45225 | 56867 | 53557 |
| Interest on capital | 18460 | 10987 | 38846 | 23832 |
| Other amounts (ii) | 64905 | 1417 | 98963 | 19920 |
| **Income tax** | **(242375)** | **(238149)** | **(480240)** | **(437872)** |
| Current tax expense | (358797) | (424009) | (439911) | (839051) |
| Deferred tax benefit (expense) | 116422 | 185860 | (40329) | 401179 |
| **Income tax in the statement of income** | **(242375)** | **(238149)** | **(480240)** | **(437872)** |
| Deferred tax recognized in OCI | 4969 | (7629) | 5781 | (12476) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) The tax rate used was the one applicable to
the Brazilian financial subsidiaries, which represents the most significant portion of the operations of the Group. The tax rate used
is not materially different from the average effective tax rate considering all jurisdictions where the Group has operations. The effect
of other tax rates is shown in the table above as "effect of different tax rates – subsidiaries and parent company".

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Primarily related to the incentives and non-taxable
interests on tax recoverable and to the amount of deferred tax asset recognized on tax losses due to an updated expectation of future
taxable income.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**b) Deferred income taxes**

The following tables present significant components of the Group's deferred tax assets and liabilities as of June 30, 2025 and 2024, and the changes for both periods. The accounting records of deferred tax assets on income tax losses and/or social contribution loss carryforwards, as well as those arising from timing differences, are based on technical feasibility studies which consider the expected generation of future taxable income, considering the history of profitability for each subsidiary individually. The use of the deferred tax asset related to tax loss and negative basis of social contribution is limited to 30% of taxable profit per year for the Brazilian entities and there is no time limit to use it.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Reflected in the statement of income** | **Reflected in the statement of income** | **Reflected in the statement of income** | | |
|  | <br>**12/31/2024** | **Constitution** | **Realization** | **Foreign**<br> **exchange** | <br>**Reflected in OCI** | <br>**06/30/2025** |
| Provisions for credit losses | 1506086 | 845583 | (891473) | 197498 |  | 1657694 |
| Other temporary differences (i) | 260314 | 59936 | (111704) | 61956 | 762 | 271264 |
| **Total deferred tax assets on temporary differences** | **1766400** | **905519** | **(1003177)** | **259454** | **762** | **1928958** |
| Tax loss and negative basis of social contribution | 145603 | 49505 | (14825) | 18023 | - | 198306 |
| **Deferred tax assets** | **1912003** | **955024** | **(1018002)** | **277477** | **762** | **2127264** |
| Fair value changes - financial instruments | (71237) | (9102) | 1497 | 2059 | (3405) | (80188) |
| Others | (22427) | - | 36945 | (6384) | - | 8426 |
| **Deferred tax liabilities** | **(93664)** | **(9102)** | **38442** | **(4325)** | **(3405)** | **(71762)** |
| **Deferred tax, offset** | **1818339** | **945922** | **(979560)** | **273152** | **(2643)** | **2055502** |
| Fair value changes - cash flow hedge | (2969) | - | (6692) | 868 | 8424 | (369) |
| **Deferred tax recognized during the period** |  | **945922** | **(986252)** |  | **5781** |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Other temporary differences are composed mainly
of other provisions and fair value changes of financial instruments as of June 30, 2025. As of December 31, 2024, other temporary differences
were composed mainly of other provisions and supplier provisions.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Reflected in the statement of income** | **Reflected in the statement of income** | **Reflected in the statement of income** | | |
|  | <br>**12/31/2023** | **Constitution** | **Realization** | **Foreign**<br> **exchange** | <br>**Reflected in OCI** | <br>**06/30/2024** |
| Provisions for credit losses | 1330733 | 654923 | (351803) | (193158) |  | 1440695 |
| Provision PIS/COFINS - Financial Revenue | (2108) |  | 2108 |  |  |  |
| Other temporary differences (i) | 192070 | 87412 | (25149) | (28344) | (84) | 225905 |
| **Total deferred tax assets on temporary differences** | **1520695** | **742335** | **(374844)** | **(221502)** | **(84)** | **1666600** |
| Tax loss and negative basis of social contribution | 92918 | 8247 | (11935) | (10409) | - | 78821 |
| **Deferred tax assets** | **1613613** | **750582** | **(386779)** | **(231911)** | **(84)** | **1745421** |
| Futures settlement market | (11509) | (438) | 2990 | 140 |  | (8817) |
| Fair value changes - financial instruments | (9332) | (10132) | 231 | 1823 |  | (17410) |
| Others | (54937) | (6483) | 39232 | 3797 | - | (18391) |
| **Deferred tax liabilities** | **(75778)** | **(17053)** | **42453** | **5760** | **-** | **(44618)** |
| **Deferred tax, offset** | **1537835** | **733529** | **(344326)** | **(226151)** | **(84)** | **1700803** |
| Fair value changes - cash flow hedge | (5375) | 11976 | - | 416 | (12392) | 7017 |
| **Deferred tax recognized during the period** |  | **745505** | **(344326)** |  | **(12476)** |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Other temporary differences are composed mainly
of other provisions and financial instruments taxes as of June 30, 2025. As of December 31, 2024, other temporary differences were composed
mainly of other provisions and supplier provisions.

**c) Tax liabilities** 

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Taxes and contributions on income (i) | 637409 | 1033501 |
| Other taxes | 80606 | 68586 |
| **Total Tax liabilities** | **718015** | **1102086** |

---

(i) Taxes and contributions on income are current obligations related to taxes on profit.

**d) Provisional Measure (MP) No. 1,303/25**

The Provisional Measure (MP) No. 1,303/25, which amended Law No. 7,689/88, addresses the increase of the Social Contribution on Net Profit (CSLL) rate from 15% to 20% starting October 1, 2025, for credit, financing, and investment companies and capitalization entities. Management does not expect the adoption of the MP to have a significant impact the Group's unaudited interim condensed consolidated financial statements for the period ended June 30, 2025, as it is still pending review by the National Congress.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**31. EQUITY**

The table below presents the changes in shares issued and fully paid and shares authorized, by class, as of June 30, 2025 and 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
| <br>**Shares authorized and fully issued** | **Note** | **Class A**<br> **Ordinary shares** | **Class B**<br> **Ordinary shares** | **Total** |
| **Total as of December 31, 2024** |  | **3768057942** | **1050600698** | **4818658640** |
| SOPs exercised and RSUs vested | **10** | 18629315 |  | 18629315 |
| Shares withheld for employees' taxes |  | (5328323) |  | (5328323) |
| Share-based payments to service providers |  | 81389 |  | 81389 |
| Issuance of class A shares - Olivia acquisition |  | 313456 | - | 313456 |
| **Total as of June 30, 2025** |  | **3781753779** | **1050600698** | **4832354477** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **06/30/2024** | **06/30/2024** | **06/30/2024** | **06/30/2024** |
| <br>**Shares authorized and fully issued** | **Note** | **Class A**<br> **Ordinary shares** | **Class B**<br> **Ordinary shares** | **Total** |
| **Total as of December 31, 2023** |  | **3682625012** | **1083312142** | **4765937154** |
| Conversion of class B shares in class A shares |  | 845000 | (845000) |  |
| SOPs exercised and RSUs vested | **10** | 27037131 |  | 27037131 |
| Shares withheld for employees' taxes |  | (4689499) |  | (4689499) |
| Shares issued to service providers |  | 97594 |  | 97594 |
| Issuance of class A shares - Olivia acquisition |  | 626175 | - | 626175 |
| **Total as of June 30, 2024** |  | **3706541413** | **1082467142** | **4789008555** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Shares authorized and unissued** | **Class A**<br> **Ordinary shares** | **Class B**<br> **Ordinary shares** | **Total** |
| Business combination - contingent share consideration |  |  | 645000 |
| Reserved for the share-based payments |  |  | 257173456 |
| Shares authorized which may be issued class A or class B | - | - | 43513268277 |
| **Shares authorized and unissued as of June 30, 2025** | **-** | **-** | **43771086733** |
| **Shares authorized issued** | **3781753779** | **1050600698** | **4832354477** |
| **Total as of June 30, 2025** | **3781753779** | **1050600698** | **48603441210** |

---

**a) Other share events**

As of June 30, 2025, the Company had authorized and unissued ordinary shares, which were reserved for commitments related to business acquisitions, share-based payment plans (note 10) and future issuances for unspecified purposes. These shares may be issued either as class A or class B ordinary shares.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**b) Share capital and share premium reserve**

All share classes of the Company had a nominal par value of US$0.0000067 on June 30, 2025 and December 31, 2024, and the total amount of share capital was US$84 on June 30, 2025, (US$84 as of December 31, 2024).

Share premium reserve relates to amounts contributed by shareholders over the par value at the issuance of shares.

The total of exercised Stock Options (SOP) was US$968 for the six-month period ended on June 30, 2025 (US$1 for the six-month period ended on June 30, 2024).

**c) Accumulated gains (losses)**

The accumulated gains (losses) include the accumulated profit (losses) of the Group and the share-based payment reserve amount, as shown in the table below.

As described in note 10, the Group's share-based payments include incentives in the form of SOPs, RSUs and Awards. Further, the Company can use the reserve to absorb accumulated losses.

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Accumulated gains (losses) | 3476586 | 2280302 |
| Share-based payments reserve | 1215660 | 1140294 |
| **Total attributable to shareholders of the parent company** | **4692246** | **3420596** |

---

**d) Shares repurchased and withheld**

Shares may be repurchased from certain former employees when they leave the Group, as a result of contractual terms of deferred payments on business combinations, or withheld because of RSUs plans to settle the employee's tax obligation. These shares repurchased or withheld are canceled and cannot be reissued or subscribed. During the six-month period ended June 30, 2025 and 2024, the following shares were withheld:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **06/30/2024** |
| Number of shares withheld - RSU | 5328323 | 4689499 |
| Total value of shares withheld - RSU | 56448 | 47120 |

---

**e) Accumulated other comprehensive income (loss)**

Other comprehensive income (loss) includes the amounts, net of the related tax effect, of the adjustments to assets and liabilities recognized in equity through the consolidated statement of comprehensive income.

Other comprehensive income that may be subsequently reclassified to profit or loss is related to cash flow hedges that qualify as effective hedges and currency translation that represents the cumulative gains and losses on the retranslation of the Group's investment in foreign operations. These amounts will remain under this heading until they are recognized in the consolidated statement of income in the periods in which the hedged items affect it, for example, in the case of the cash flow hedge.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

The own credit reserve reflects the cumulative own credit gains and losses on financial liabilities designated at fair value. Amounts in the own credit reserve are not reclassified to profit or loss in future periods.

The accumulated balances are as follows:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| Cash flow hedge effects, net of deferred taxes | (5560) | 22750 |
| Currency translation on foreign entities | (180357) | (862977) |
| Changes in fair value - financial instruments at FVTOCI, net of deferred taxes | 12401 | 11582 |
| Own credit adjustment effects | 498 | 478 |
| **Total** | **(173018)** | **(828167)** |

---

**32. MANAGEMENT OF FINANCIAL RISKS, FINANCIAL INSTRUMENTS, AND OTHER RISKS**

**a) Overview**

The Group monitors all the risks that could have a material impact on its strategic objectives, including those that must comply with applicable regulatory requirements. To efficiently manage and mitigate these risks, the risk management structure conducts risk identification and assessment to prioritize the risks that are key when pursuing potential opportunities and/or that may prevent value from being created or that may compromise existing value, or may of impact financial results, capital, liquidity, customer relationships and reputation.

**b) Risk management structure**

Nu considers Risk Management an important pillar of the Group's strategic management. The risk management framework is integrated throughout the entire Group, with the objective of ensuring that risks are properly identified, measured, mitigated, monitored, and reported, to support the development of its activities. Risk Management is related to the principles, culture, structures, and processes to improve the decision-making process and the achievement of strategic objectives. It is a continuous and evolving process that is embedded in Nu's entire strategy, to support Management in minimizing its losses, as well as maximizing its profits and underscoring the Group's values.

The Group's risk management structure considers the size and complexity of its business, which allows tracking, monitoring, and control of the risks to which it is exposed. The risk management process is aligned with management guidelines, which, through committees and other internal meetings, define strategic objectives, including risk appetite. Conversely, the capital control and capital management units provide support through risk and capital monitoring and analysis processes.

The Group considers a risk appetite statement ("RAS") to be an essential instrument to support risk management and decision making. The Board of Directors reviews and approves the RAS, as guidelines and limits for the business plan and capital deployment. Nu has defined a RAS (aligned to local regulatory requirements) that prioritizes the main risks and, for each of these, qualitative statements and quantitative metrics expressed in relation to earnings, capital, risk measures, liquidity and other relevant measures were implemented, as appropriate.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**c) Risks actively monitored**

Risks that are actively monitored by the Group include Credit Risk, Liquidity Risk, Market Risk, Interest Rate Risk in the Banking Book (IRRBB), Foreign exchange (FX), Operational, IT and Cyber, Regulatory, Compliance and AML (Anti-money laundering), Reputational Risk and Risk from Cryptocurrency business. The management of these risks is carried out according to the three-line model, considering policies and procedures in place, as well as the limits established in the RAS. Also, there is a Stress Testing program in place.

Each of the risks described below has its own methodologies, systems and processes for its identification, measurement, evaluation, monitoring, reporting, control, and mitigation.

In the case of financial risks, such as credit, liquidity, IRRBB and market risk, the measurement is carried out based on quantitative models and, in certain cases, prospective scenarios in relation to the main variables involved, respecting the applicable regulatory requirements and best market practices. Non-financial risks, such as operational risk and technological/cyber risks, are measured using impact criteria (inherent risk), considering potential financial losses, reputational damage, customer perception and legal/regulatory obligations, as well as evaluated in relation to the effectiveness of the respective structure of internal controls.

There were no significant changes to the risk management structure that was reported in Annual Financial Statements.

**Credit risk** 

The Group's outstanding balance of financial assets and other exposures to credit risk is shown in the table below:

---

| | | |
|:---|:---|:---|
|  | **06/30/2025** | **12/31/2024** |
| **Financial assets** |  |  |
| **Cash and cash equivalents** | **13269017** | **9185742** |
| Securities | 397542 | 665242 |
| Derivative financial instruments | 143583 | 75464 |
| Collateral for credit card operations | 343 | 336 |
| **Financial assets at fair value through profit or loss** | **541468** | **741042** |
| Securities | 10830505 | 9913517 |
| **Financial assets at fair value through other comprehensive income** | **10830505** | **9913517** |
| Credit card receivables | 15129529 | 12259276 |
| Loans to customers | 7870252 | 5321885 |
| Compulsory and other deposits at central banks | 8210232 | 6743336 |
| Other receivables | 929533 | 1413443 |
| Other financial assets | 160328 | 78147 |
| Securities | 1407618 | 885418 |
| **Financial assets at amortized cost** | **33707492** | **26701505** |
| **Other exposures** |  |  |
| Unused limits (i) | 24519601 | 17663606 |
| **Credit Commitments** | **24519601** | **17663606** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Unused limits are
not recorded in the statement of financial position but are considered in the measurement of the ECL because it represents credit risk
exposure.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**Liquidity risk**

Liquidity risk is defined as:

> the ability of an entity to fund increases in assets and meet obligations as they come due, without incurring unacceptable losses; and

> the possibility of not being able to easily exit a financial position due to its size compared to the traded volume in the market.

The liquidity risk management structure uses future cash flow data, applying what Nu believes to be a severe stress scenario to these cash flows, to measure whether the volume of high-quality liquid assets that the Group holds is sufficient to ensure its financial resilience. The liquidity indicators are monitored daily, using procedures approved by Management, and compared with the approved limit structure, in accordance with the Group's declared risk appetite.

Among the main liquidity indicators, Nu uses:

---

| | |
|:---|:---|
| > | **Short-Term Liquidity Ratio**: the Group uses an internal methodology which measures whether it holds sufficient high quality liquid assets to cover short term (unexpected) outflows in a severe stress scenario. |

---

---

| | |
|:---|:---|
| > | **Funding Ratios and Gaps**: to ensure long term Balance Sheet stability, the Group establishes conservative limits for the ratios and cumulative gaps (the value difference) between assets and liabilities in all future maturity buckets, using expected behavioral maturities, calculated with historical internal data. |

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The Group has a detailed Contingency Funding Plan for each entity, outlining management actions that must be taken in response to a deterioration of the liquidity indicators.

**Primary sources of funding - by maturity** 

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **12/31/2024** | **12/31/2024** | **12/31/2024** | **12/31/2024** |
| <br>**Funding Sources** | **Up to 12**<br> **months** | **Over 12**<br> **months** | **Total** | **%** | **Up to 12**<br> **months** | **Over 12**<br> **months** | **Total** | **%** |
| Bank receipt of deposits (RDB) (i) | 25957949 | 125187 | 26083136 | 90% | 21402435 | 109409 | 21511844 | 91% |
| Borrowings and financing | 1247364 | 1028254 | 2275618 | 8% | 414291 | 1316066 | 1730357 | 7% |
| Bank certificate of deposit (CDB) | 390486 | 105947 | 496433 | 2% | 462407 | 83988 | 546395 | 2% |
| **Total** | **27595800** | **1259388** | **28855188** | **100%** | **22279133** | **1509463** | **23788596** | **100%** |

---

&nbsp;&nbsp;&nbsp;&nbsp;(i) Considering the earliest
date the customer can redeem, which is the worst-case scenario from the perspective of the Group. For liquidity risk management, Nu considers
a run-off scenario, according to historical customer behavior.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

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**Maturities of financial assets and liabilities**

The table below summarizes the Group's financial assets contractual undiscounted cash flows and their contractual maturities:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
|  | **Carrying**<br> **amount** | **Total** | **Up to 1**<br> **month** | **1 to 3**<br> **months** | **3 to 12**<br> **months** | **Over 12**<br> **months** |
| **Financial assets** |  |  |  |  |  |  |
| Credit card receivables (i) | 15129529 | 16587369 | 6895207 | 5394167 | 4089944 | 208050 |
| Securities | 12635664 | 14175477 | 1508100 | 975340 | 2042582 | 9649455 |
|  Compulsory and other deposits<br> at central banks | 8210232 | 8428919 | 8428919 |  |  |  |
| Cash and cash equivalents | 13269017 | 13050326 | 13050326 |  |  |  |
| Loans to customers (i) | 7870252 | 11922247 | 1051470 | 1727614 | 4416232 | 4726931 |
| Other receivables | 929533 | 957434 | 433534 | 240583 | 283318 |  |
| Other assets | 1257643 | 1257643 | 1257643 | - | - | - |
| **Total Financial Assets** | **59301869** | **66379414** | **32625199** | **8337703** | **10832075** | **14584436** |

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&nbsp;&nbsp;&nbsp;&nbsp;(i) The cash flows for
Credit card receivables and Loans to customers consider only operations that are not overdue.

The tables below summarize the Group's financial liabilities and their contractual maturities:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** | **06/30/2025** |
|  | **Carrying**<br> **amount** | **Total (iii)** | **Up to 1**<br> **month** | **1 to 3**<br> **months** | **3 to 12**<br> **months** | **Over 12**<br> **months** |
| **Financial liabilities** |  |  |  |  |  |  |
| Derivative financial instruments | 124501 | 122703 | 116106 | 6597 |  |  |
| Repurchase agreements | 1064482 | 1623885 | 1434494 | 189391 |  |  |
| Deposits in electronic money (i) | 10060587 | 10060925 | 7953213 | 1910026 | 197686 |  |
| Bank receipt of deposits (RDB) (ii) | 26083136 | 27110303 | 25302696 | 512567 | 1021166 | 273874 |
| Bank certificate of deposit (CDB) | 496433 | 544067 | 29031 | 60300 | 325868 | 128868 |
| Payables to credit card network | 11052378 | 11053785 | 4364543 | 3406199 | 2971969 | 311074 |
| Borrowings and financing | 2275618 | 2629416 | 90599 | 125761 | 1110182 | 1302874 |
| **Total Financial Liabilities** | **51157136** | **53145084** | **39290682** | **6210841** | **5626871** | **2016690** |

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&nbsp;&nbsp;&nbsp;&nbsp;(i) In accordance with regulatory requirements
and in guarantee of these deposits, the Group holds the total amount of US$92,054 in eligible securities composed of Brazilian government
bonds as described in note 12b, under a dedicated account within the Central Bank of Brazil as of June 30, 2025 (US$51,128 as of December
31, 2024).

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Considering the earliest date in which the
customer can withdraw the deposit. The expected redemption rate for Nu's deposits, used within the previously described liquidity risk
management framework is estimated based on observed historic customer behavior.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) The total was projected considering the exchange
rate of Brazilian Reais, Mexican and Colombian Pesos to US$ as of June 30, 2025.

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

The unused limit of credit cards is the pre-approved limit that has not yet been used by the customer and represents the current maximum potential credit exposure. Therefore, it does not represent the real need for liquidity arising from commitments. When customers uses their limits, the expected duration of the credit card receivables is shorter than the duration of the payables to network.

In view of the asset allocation profile presented above, the Group establishes a funding plan with the aim of maintaining a healthy financial position in the short and long term. The main source of funding is the deposit franchise (Deposits in electronic money and Bank receipt of deposits), which the Group aims to match with a liquidity cushion on the asset side. Securities are mainly composed of Government Bonds, which may have longer maturities (as demonstrated in the table above), but are traded in a market that has historically had high liquidity.

Additionally, despite being contractually redeemable in the short term, the Group considers deposits balance to be a growing financing instrument, used alongside with other debt issuances to guarantee a proper mix of funding sources.

The Group monitors and utilizes this information as part of its mechanism for managing liquidity risk.

**Market risk and interest rate risk in the banking book (IRRBB)**

The table below presents the Value at Risk (VaR) calculated using a confidence level of 99% and a holding period of 10 days. The calculation is performed using a filtered historical simulation approach, based on a 5-year historical window. For Brazil VaR is calculated only for the Trading Book, while in Mexico it is presented for the whole Available for Sale portfolio, in line with regulation and portfolio management strategies.

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| | | |
|:---|:---|:---|
| **VaR** | **06/30/2025** | **12/31/2024** |
| Nu Brazil (i) | 11 | 433 |
| Nu Holdings (ii) | 1919 | 14528 |
| Nu México | 533 | 651 |

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&nbsp;&nbsp;&nbsp;&nbsp;(i) Nu Prudential Conglomerate
in Brazil.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Considers only financial
assets held directly by Nu Holdings as other subsidiaries do not have significant market risk exposures.

The following analysis presents the Group's whole Financial Position sensitivity of the fair value to an increase of 1 basis point ("bp") (DV01) in the Brazilian risk-free curve, Brazilian IPCA coupon curve, US risk-free curve and Mexican risk-free curve, assuming a parallel shift and a constant financial position:

---

| | | |
|:---|:---|:---|
| **DV01** | **06/30/2025** | **12/31/2024** |
| Brazilian risk-free curve | (659) | (363) |
| US risk-free curve | (23) | (155) |
| Mexican risk-free curve |  | (14) |
| Colombia risk-free curve | (64) | (53) |

---

---

| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

---

**Foreign exchange (FX) risk**

The financial information may exhibit volatility due to the Group's operations in foreign currencies, such as the Brazilian Real and the Mexican and Colombian Pesos. At the Nu Holdings level, there is no net investment hedge for investments in other countries.

As of June 30, 2025 and December 31, 2024, none of the entities of the Group had significant unhedged FX exposures in currencies other than their respective functional currencies.

Expenses in other currencies (USD and EUR) are hedged within a hedge accounting framework, but other economic hedge relationships exist and are governed by an FX residual exposure framework within the market risk management structure. A non-exhaustive list comprises loans, bonds, cash accounts and time deposits in other currencies than the functional currency of each entity, and the total exposure is always kept within the appetite defined by the Group on this instance.

**33. CAPITAL MANAGEMENT**

The purpose of capital management is to maintain the capital adequacy for Nu's operation through control and monitoring of the capital position, to evaluate the capital necessity according to the risk appetite and strategic aim of the organization, and to establish a capital planning process. A future requirements of regulatory capital, based on the Group's growth projections, risk exposure, market movements, and other relevant information. Also, the capital management structure is responsible for identifying sources of capital, writing and submitting the capital plan and the capital contingency plan for approval by the Executive Directors.

**Regulatory Capital Composition**

The Company is not subject to specific regulatory capital requirements, however, the regulated subsidiaries in each country must comply with local rules. The capital adequacy of the regulated subsidiaries are detailed below.

**a) Nu Prudential Conglomerate in Brazil**

Brazil's Central bank defines a prudential conglomerate as a group of companies in which one regulated entity controls other regulated companies or investment funds. The conglomerate is classified as Type 3 when the regulated company that leads the conglomerate is a Payment Institution, which is the case of Nu Pagamentos.

The regulatory capital of the prudential conglomerate, defined by Brazil's Central Bank, consists of three key components:

> Common Equity Tier 1 (CET1) Capital: Consisting of paid-in capital, reserves, and retained earnings, after accounting for deductions and prudential adjustments.

> Additional Tier 1 (AT1) Capital: This includes debt instruments that have no specific maturity and can absorb losses, meeting the eligibility criteria set out by the Central Bank. The sum of CET1 and AT1 forms the overall Tier 1 Capital.

> Tier II Capital: This involves subordinated debt instruments with set maturity dates that meet eligibility requirements.

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| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

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Type 3 institutions are required to implement capital rules as a prudential conglomerate. This implementation involved a phase-in period for minimum capital requirements and prudential adjustments, extending until December 2024. As of January 2025, Nu is operating under the full requirements.

The following table presents the calculated capital ratios for the CET1, Tier 1, and the Capital Adequacy Ratio (CAR) and outlines their minimum requirements for the prudential conglomerate under Brazil's current regulations:

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| | | |
|:---|:---|:---|
| **Prudential conglomerate** | **06/30/2025** | **12/31/2024** |
| **Regulatory Capital** | **4169052** | **3629737** |
| **Tier I** | **3721855** | **3250052** |
| &nbsp;&nbsp;*Common equity capital* | *3374973* | *2940941* |
| &nbsp;&nbsp;*Additional* | *346882* | *309111* |
| **Tier II** | **447197** | **379685** |
| **Risk weighted assets (RWA)** | **26219270** | **20071878** |
| Credit risk (RWA CPAD) | 18792819 | 14771860 |
| Market risk (RWA MPAD) | 103221 | 46080 |
| Operational risk (RWA OPAD) | 5822937 | 4506187 |
| Payment services risk (RWA SP) | 1500293 | 747751 |
| **Minimum capital required** | **2753023** | **1756289** |
| **Excess margin** | **1416028** | **1873448** |
| **CET1 ratio** | **12.9%** | **14.7%** |
| **Tier 1 ratio** | **14.2%** | **16.2%** |
| **CAR** | **15.9%** | **18.1%** |

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**b) Nu Mexico Financiera**

As of June 30, 2025, regulatory capital reported to the local regulator was equivalent to US$$335,301 (US$288,654 as of December 31, 2024). This translated into a Capital ratio of 15.4% (19.2% as of December 31, 2024), above the 10.5% minimum required for Category 4 *Sociedades Financieras Populares* ("SOFIPO").

**c) Nu Colombia**

As of June 30, 2025, regulatory capital reported to the local regulator was equivalent to US$153,411 (US$184,793 as of December 31, 2024). This translated into a Capital ratio of 25.4% (22.6% as of December 31, 2024), above the 10.5% minimum required for credit institutions in Colombia.

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| | |
|:---|:---|
| ![](nufs2q256k_002.jpg) | &nbsp;&nbsp;&nbsp;**Nu Holdings Ltd.**<br>Unaudited Interim Condensed Consolidated Financial Statements<br>for the three and six-month period ended June 30, 2025 |

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**34. SEGMENT INFORMATION**

In reviewing the operational performance of the Group and allocating resources, the Chief Operating Decision Maker of the Group ("CODM"), who is the Group's Chief Executive Officer ("CEO"), reviews the consolidated statement of income and comprehensive income.

The CODM considers the whole Group as a single operating and reportable segment, monitoring operations, making decisions on fund allocation, and evaluating performance. The CODM reviews relevant financial data on a combined basis for all subsidiaries.

The Group's income, results, and assets for this one reportable segment can be determined by reference to the consolidated statement of income and other comprehensive income as well as the consolidated statements of financial position.

**a) Information about products and services**

The information about products and services is disclosed in note 6.

**b) Information about geographical area**

The table below shows the revenue and non-current assets per geographical area:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Revenue (i)** | **Revenue (i)** | **Revenue (i)** | **Revenue (i)** | **Non-current assets (ii)** | **Non-current assets (ii)** |
|  | **Three-month period ended** | **Three-month period ended** | **Six-month period ended** | **Six-month period ended** | | |
|  | **06/30/2025** | **06/30/2024** | **06/30/2025** | **06/30/2024** | **06/30/2025** | **12/31/2024** |
| Brazil | 2621626 | 2105074 | 4961314 | 4179489 | 768011 | 583713 |
| Mexico | 175693 | 125270 | 322806 | 224621 | 48858 | 42915 |
| Other countries | 56201 | 27907 | 114576 | 53144 | 154438 | 98469 |
| **Total** | **2853520** | **2258251** | **5398696** | **4457254** | **971307** | **725097** |

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&nbsp;&nbsp;&nbsp;&nbsp;(i) Includes interest income (credit card, loan
and other receivables), interchange fees, recharge fees, rewards revenue, late fees, insurance commission and other fees and commission
income.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) Non-current assets are right-of-use assets,
property, plant and equipment, intangible assets, and goodwill.

The Group had no single customer that represented 10% or more of the Group's revenues in the three and six-month periods ended- June 30, 2025 and 2024.

**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.

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| | |
|:---|:---|
| **Nu Holdings Ltd.** | **Nu Holdings Ltd.** |
| By: | /s/ Guilherme Souto |
|  | Guilherme Souto<br>Investor Relations Officer |

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Date: August 14, 2025